West Chester’s Tamora Building Systems is planning to invest $5 million into developing an industrial building in Marcus Hook, writes Natalie Kostelni for the Philadelphia Business Journal.
The 63,000-square-foot project about a half-mile from I-95 has no tenants lined up, but that doesn’t deter Anthony Diver, owner of Tamora Building Systems.
“The vacancy is low, and the market is strong,” he said.
With overall vacancy rates in the region at 5.9 percent and even lower, properties used for manufacturing or warehousing and distributing goods are in high demand. With limited supply under development and ever-rising rents, the market is poised for a speculative development.
Diver has already started clearing trees on his five and a half acres in the Chichester Business Park. He has retained real estate brokers Donald Grimes and Kevin Hagenberg to fill the building.
“There are tenants in the market looking for space and they want new, efficient space,” said Hagenberg.
Read more about Tamora Building Systems in the Philadelphia Business Journal by clicking here.