A former Amazon warehouse in Northeast Philly has sold for the third time in six years

May 14, 2025

A former Amazon warehouse in Northeast Philadelphia was sold last month for $10.2 million, according to property records.

The 7.3-acre property on Townsend Road has been sold three times in the past six years. According to property records, this time it was purchased by Ares Industrial Real Estate Income Trust, the industrial-real-estate arm of Ares Management, an Los Angeles-based investment manager.

A company spokesperson declined to comment on its plans for the nearly 66,000-square-foot building.

Amazon remains the primary tenant but is subleasing the space to a third party, said Richard Gorodesky, a vice chair at Colliers International. The new ownership will not affect that agreement, according to the Philadelphia Business Journal, which first reported the sale on Tuesday.

» READ MORE: Millions of square feet of warehouses have dramatically altered the Philly area. Towns are starting to push back.

The parcel was sold for more than its assessed market value of approximately $8.3 million, according to property records, and for more than the $9.75 million it last sold for in 2021. Before that, it went for $4.4 million in 2019.

Amazon opened the warehouse at 13200 Townsend Rd. in June 2021 at a time when the online-shopping behemoth was encircling the city with dozens of fulfillment and distribution centers.

Industry experts cite the “Amazon effect” as a reason the U.S. — and the Philadelphia region — has become a warehouse economy.

The Townsend Road property is one of the Philadelphia region’s 188 warehouses that are larger than 20,000 square feet, most of which are within three miles of I-95, I-295, and the New Jersey Turnpike.