Automated warehouse company Exol has signed a 973,200-square-foot lease to fully occupy the South Penn Logistics Center at 2300 S. Pennsylvania Ave. in Morrisville. It marks one of the largest industrial leases in the Philadelphia region in recent years and the biggest so far in 2026. The facility, completed last year by Chicago-based developer Logistics Property Co., sits along the Delaware River across from Trenton and will serve as Exol's sixth location and first in the Philadelphia region. Founded in 2023 and formerly known as GreenBox, the California-based company specializes in AI-driven automated fulfillment. The deal ranks as the fourth-largest single-building industrial lease in the Philadelphia market since the start of 2024, behind only DrinkPak's 1.4-million-square-foot, build-to-suit in South Philadelphia, Performance Team's 1.2-million-square-foot lease in Cinnaminson, and Cirro's 1-million-square-foot expansion at the nearby Keystone Trade Center.
Source: Philadelphia Business Journal; 3/5/2026