Novaya Foxfield Industrial, the Mid-Atlantic arm of Novaya Real Estate Ventures, announced the purchase of 29 acres at 900 River Road (Schuylkill River Road) in West Conshohocken (Upper Merion). The property was the home of the Johnson Matthey chemical plant.
According to the announcement, Foxfield Industrial will demolish the existing chemical processing plant that has occupied the site for over 30 years and redevelop the site with a Class A, 36’ clear industrial property, called King of Prussia Logistics Hub. It is proposed to be 350,000 square feet.
“We are excited to announce the acquisition of this premier, infill, industrial development site in a submarket that is underserved for Class A warehouse and distribution product. KOP Logistics Hub is a bullseye for any company interested in servicing the Western Suburbs of Philadelphia and beyond, with its proximity to interstate access, closeby labor pools, and densely populated neighborhoods,” stated Foxfield Principal, Jeff Harper.