Cushman & Wakefield Arranges $34 Million Refinancing for Airport Logistics Center in Philadelphia

Philadelphia, PA – April 29, 2025 – Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to Ivy Realty and Lubert-Adler Real Estate Funds in the procurement of $34,000,000 for the refinancing of the Airport Logistics Center, a 627,252-square-foot industrial property located at 10 Industrial Highway in Tinicum Township, PA. The loan was provided by Blue Owl. 

Cushman & Wakefield’s John Alascio, Chuck Kohaut and Meredith Donovan represented the borrower in the financing.  
“This is a well-located, functional piece of real estate that Ivy Realty and Lubert-Adler Real Estate Funds have done a tremendous job adding value to over the past few years. Blue Owl was thoughtful with loan terms and will be an exceptional partner for the ownership as they continue to add value to Airport Logistics Center,” said Alascio 

The Airport Logistics Center comprises four building complexes and three acres of industrial outdoor storage, with clear heights ranging from 30 to 65 feet. The property is currently 83.3% leased to twenty users.  

Located directly adjacent to Philadelphia International Airport's "Cargo City," the property offers immediate access to major transportation routes, including I-95 and I-76, and is minutes from Center City Philadelphia and the Port of Philadelphia's Packer Ave & Southport Marine Terminals. This prime location provides significant transportation savings and toll cost advantages, enhancing the property's appeal to logistics and distribution tenants.  

The Philadelphia MSA, the seventh largest in the U.S., offers access to 48.6 million people within a one-day truck drive, further solidifying the Airport Logistics Center's position as a premier logistics hub on the Eastern Seaboard.