Daily News | The pandemic has made warehouses more valuable than suburban offices, as workers stay home
Investors paid a reported $350 a square foot last winter -- “a record price” for warehouses in the region -- to purchase a new 300,000 square foot warehouse that Target leased on the site of a demolished drug-manufacturing facility on River Road in Upper Merion Township, near the former Inquirer printing plant, Fahey noted.
But smaller buildings with no long-term tenants in suburban industrial areas of Exton and Horsham are still commanding prices of $140 to $175 a square foot, also more than nearby offices, Bell noted. That’s the current home of vintage-music wholesaler Oldies.com, whose sign is visible from the Blue Route . The building is only partly heated and air conditioned. It includes about 36,000 square feet of warehouse space and 20,000 square feet of offices that could be converted to warehousing.