C
row Holdings Development has secured a major tenant for its 147,000-square-foot warehouse project in Northeast Philadelphia. Martin Brower, the largest supply chain partner worldwide for McDonald's, will lease the entire facility at 14515 McNulty Road. The terms of the lease were not disclosed.

    The warehouse, set to be completed next fall, features 57,000 square feet of cold storage and an 8,500-square-foot office space. Strategically located near major highways like I-95, the property was purchased by Dallas-based Crow Holdings for $8 million earlier this year. The buildout for Martin Brower is estimated to cost between $35 million and $40 million.

    A CBRE team represented the tenant in negotiations, while a Colliers team represented Crow Holdings. The site includes a 10-year agreement for payments in lieu of taxes. This deal marks another significant industrial transaction in Philadelphia's growing sector, which recently surpassed multifamily property values for the first time according to CoStar.