Bucks County property records show New Jersey-based Greek Real Estate Partners has purchased a more than 141,000-square-foot warehouse on a 10-acre lot along the Delaware River in Croydon. The site at 120 Phyllis Drive has about 3,000 square feet of office space, 20 tailgate doors, one drive-in door, 36-foot clear height, and 260 parking spaces and 31 trailer parking spots. It was sold by Pennwood Investment Management, the same company that developed the site in 2023. The vacancy rate in Greater Philadelphia’s industrial market has been inching up after hitting record low vacancy of around 3% in 2022. According to Colliers’ most recent quarterly market report, the industrial vacancy rate in the area is 7.7%.
Source: Philadelphia Business Journal; 5/12/2025