Zara billionaire makes $148M industrial play – Robert Khodadadian

Amancio Ortega has found his next real estate conquest in the form of an industrial asset. Pontegadea, the Spanish octogenarian’s family office, bought a distribution center in Northeast Philadelphia for $148.1 million, the Philadelphia Business Journal reported. The 1 million-square-foot facility at 2760 Red Lion Road is occupied by TJX, the parent company of retailers TJ Maxx, Marshalls and HomeGoods. The center was built in 2001 and has been leased by TJX ever since. The

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Cross Post, Home Page, Amancio Ortega, industrial Real Estate, Philadelphia The Real Deal New York Read More

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