Colliers, as exclusive agent for SkyREM, is pleased to announce a landmark lease at the Quartermaster, an iconic campus of six buildings encompassing one million square feet over 24 acres in the Girard Estates community of South Philadelphia. The transaction was facilitated by both Ina Sargen and Elizabeth Morrow of Colliers. Jason Bock and Scott Weiss of MSC represented Aldi.
Aldi, a German-based grocery chain will develop a brand new 22,000 square foot prototype store on a pad site within The Quartermaster campus at 21st and Oregon Avenues. Expected to break ground this quarter and open by the end of 2022, the new Girard Estates Aldi Supermarket will become the chain’s 12th location in the City of Philadelphia.
In addition to the leasing activity within the redeveloped Quartermaster campus, the overall neighborhood is bustling with new energy. Adjacent retail centers Quartermaster Plaza and South Philadelphia Shopping Center are currently undergoing substantial redevelopment and rebranding as South Quarter Crossing which will create up to 800,000 square feet of retail and 280 new residential units.
“We extend a warm welcome to Aldi as they take another exciting growth step in Philadelphia. As an integral part of this neighborhood, we are thrilled to serve as home to such a valuable community asset.“ shared Alex Dembitzer, CEO and Founder of SkyREM, LLC, the owner and developer of the Quartermaster. “The walkable daytime activity within our commercial campus, a dense population of surrounding residents, convenient adjacency to I-76 and central location between the employment hubs of Center City and the Navy Yard all added up to a vibrant and exciting new opportunity for Aldi.” cited Ina Sargen, a Senior Vice President with Colliers.
The Quartermaster is in the midst of a bold redevelopment plan. The origins of the Philadelphia Quartermaster Depot extend back to when America joined the fray of WWI – outfitting the doughboys of that era. It went on to be the largest purchaser and maker of textile products in the world and likened to a “little Pentagon.” The current Quartermaster location contains historically significant art deco buildings and a central clocktower which sits at the heart of a complex that was supported by its own railroad system, police and fire protection and employed up to 15,000 Philadelphians at its height.
This storied campus is currently home to Homeland Security’s Delaware Valley Intelligence Center (DVIC), the U.S. Department of Labor’s Regional Job Corps Training Center and the Indego Bikeshare Program’s HQ/Operations Center. The Quartermaster remains driven by its original sense of productivity and community and is proudly readying to serve a new generation as a unique and vibrant destination.
Colliers serves as the exclusive agent to the Quartermaster and SkyREM.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
SkyREM, with offices in Philadelphia and in New York City, is a privately funded and managed real estate company which owns and operates a large, diversified portfolio of properties in the United States. As a principal for its own account, Sky is actively acquiring properties throughout the United States. To learn more about SkyREM please contact Marc Civitillo or James Pancetti at 929-286-4648, or visit www.skyrem.com.