PhilaPort announced the acquisition of a 29-acre parcel of land, locally known as the former Philadelphia Produce & Seafood Terminal, located at Third Street and Pattison Avenue. With this purchase PhilaPort now owns 1,016 acres of land.
This purchase from Philadelphia’s public-private economic development corporation, PIDC, will allow PhilaPort to develop warehousing to support the growth in container operations at Packer Avenue Marine Terminal.
“As we densify and increase container capacity at PAMT, we needed more land to grow,” Jeff Theobald, chief executive officer of PhilaPort, said in a press release. “This land, located less than a half mile from [Packer Avenue Marine Terminal], allows us to enact a major component in our plan. It enables us to relocate warehousing adjacent to our main container operations.”
PhilaPort has enacted an aggressive timetable to grow Port cargo volumes. This new land will play a critical role and directly augment the $300 million port development plan set by Pennsylvania Gov. Tom Wolf, the board and the CEO of PhilaPort.
“We are excited to support the continued expansion of PhilaPort with the sale of this strategic parcel,” John Grady, president of PIDC, added in the press release. “For more than 60 years, this site has played an important role in the movement of goods and services throughout the region, supporting business growth and thousands of family-sustaining jobs. With its strategic location, growing port, deep pool of skilled labor, and direct access to a large customer base in the northeast United States, Philadelphia is poised for even greater investment, development and job growth as a center for logistics, transportation, and distribution.”
The port is an economic engine in southeastern Pennsylvania; this purchase exemplifies the important role public and private warehousing plays in the Port achieving its full potential.
“The cooperation between the port, the city of Philadelphia and PIDC has been outstanding,” Deputy Mayor Richard Lazer said in the press release. “Mayor Kenney has placed a high priority on moving the port forward. In the weeks and months ahead, the city of Philadelphia will continue to move in lockstep with Governor Wolf’s goal of generating family sustaining jobs.”