Gattuso Development Partners has secured construction financing to begin the development of a $50 million-plus, 130,000-square-foot life sciences manufacturing facility at the Philadelphia Navy Yard.

The funding for 2500 League Island Blvd. was provided by Citizens Bank as well as Boston-based investment firm Baupost Group, which is Gattuso Development’s financial partner. This is the first time Baupost has invested in a Philadelphia-based development and it continues a recent trend of firms from outside of the region entering the market to take a financial stake in its growing life sciences industryThe flex building, designed by Sitio Architects of Philadelphia, will mainly have current good manufacturing practice (cGMP) production space, labs, as well as some office space. Demand for these type of specialized manufacturing facilities is growing amid a market that is in short supply of it.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia medical space for sale or lease or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia medical commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.