Greek Real Estate Partners and Principal Asset Management Acquire Bucks County Site, Secure $11.84 Million for Class A Development

Greek Real Estate Partners and Principal Asset Management Acquire Bucks County Site, Secure $11.84 Million for Class A Development

Industrial land in Bucks County has grown steadily harder to come by. The regional construction pipeline across Greater Philadelphia has fallen to a five-year low, and Bucks County had fewer than 350,000 square feet under construction as of the first quarter of 2026, according to Newmark Research. Against that backdrop, Greek Real Estate Partners, in partnership with Principal Asset Management®, has closed on the acquisition of a fully improved, pad-ready development site at 805 N. Wilson Avenue in Bristol, Pennsylvania, and secured $11.84 million in construction financing for a 100,170-square-foot Class A industrial facility. The site was acquired through the Principal Asset Management Green Property Strategy, with TD providing the construction loan.

The acquisition marks the first investment between Greek Real Estate Partners and Principal® through the Green Property Strategy, strengthening a 40-year relationship that already includes the Bristol Industrial Park, comprising more than 2 million square feet largely developed throughout the 1980s, and more recently the Langhorne Logistics Center in Langhorne, Pennsylvania. The financing also marks the partnership's first loan with TD, on a team led by Mark Melchione and John Fagan.

Alex Motiuk, Director of Investments and Capital Markets for Greek Real Estate Partners, framed the opportunity in terms of what the site already had in place at closing.

"Bucks County is one of the hardest places in the region to find land for new industrial development, and a site this size that comes ready to build is rarer still," Motiuk said. "With the site work complete and financing in place, we can move straight to construction and deliver the kind of modern space tenants in this market are looking for."

However, the timing advantage is only part of the case for the project. Leasing momentum across Greater Philadelphia carried into 2026, with the region recording more than 6.7 million square feet of leasing in the first quarter, its strongest start since 2022, and Class A facilities capturing more than half of that volume. Demand continues to be supported by long-term structural drivers, including e-commerce growth and supply chain realignment, while new supply retreats. In a land-constrained market, opportunities to deliver modern, midsize Class A facilities remain increasingly scarce.

Building Specifications and Location

The facility will feature a 36-foot clear height, a 2,400-square-foot speculative office, 20 loading docks, and two drive-in doors, along with 1,200-amp, three-phase, 480/277V electrical service and parking for 58 cars and six trailers. The project is slated to achieve two Green Globes. Its efficient, midsize footprint is designed to serve regional distribution, light manufacturing, and logistics users. Positioned directly adjacent to the Delaware River Bridge, the property offers immediate access to I-95, the Pennsylvania and New Jersey Turnpikes, PA Route 13, and PA Route 413, connecting to Philadelphia, Bucks County, Southern New Jersey, and the broader Greater Philadelphia MSA.

Greek Real Estate Partners will oversee development through its fully integrated platform, with Greek Design|Build serving as general contractor. Completion is projected for the first quarter of 2027. Newmark has been retained as exclusive leasing agent, with a team led by Nick Pickard. Review the full building specifications and submit leasing inquiries at the project site.

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