Speed Bay Warehouse Solutions, a Denver-based light industrial investment platform, paid more than $84 million for an eight-building industrial portfolio spanning the Philadelphia suburbs and southern New Jersey, marking the firm’s entry into the Northeast market, according to a Business Wire release dated July 27, 2026.
The Philadelphia Interstate Portfolio totals 488,936 square feet across eight buildings in Burlington County, New Jersey, and East Montgomery and Delaware Counties, Pennsylvania. The properties are 89.6% occupied across 24 suites averaging 20,372 square feet each, with clear heights ranging from 17 to 33 feet and construction dates spanning 1972 to 2004 — a profile typical of the older, smaller-footprint “shallow bay” industrial buildings that have drawn heavy institutional investor interest as e-commerce and last-mile logistics tenants compete for space closer to dense population centers.
“This acquisition represents an important step in our expansion within the Northeast, a region we have identified as a strategic priority for investment given its dense, infill markets and constrained new supply,” said Michael Moriarty, Speed Bay’s head of acquisitions, in the release.
A young platform with institutional backing
Speed Bay was founded in 2024 by Evan Zucker and Jimmy Mulvihill, both formerly of Black Creek Group, the industrial real estate investment firm acquired by Ares Management in 2021. The platform launched with a $250 million strategic capital commitment from investment firm BDT & MSD Partners and focuses exclusively on shallow-bay, multi-tenant light industrial properties — a niche within industrial real estate distinct from the mega-warehouses built for single-tenant distribution users. The company maintains regional offices in Dallas, Atlanta and now the Northeast following the Philadelphia deal.
The acquisition adds to a broader wave of institutional capital targeting infill, multi-tenant industrial product in supply-constrained coastal markets, where new construction is limited by land scarcity and zoning, giving existing buildings pricing power as tenants have few alternatives nearby.
What it means
Verified facts: Speed Bay paid more than $84 million for the 488,936-square-foot, eight-building Philadelphia Interstate Portfolio, its first Northeast acquisition since launching in 2024 with $250 million in committed capital.
RealtyWire analysis: The deal illustrates how quickly newly formed, well-capitalized platforms are moving to establish footholds in infill industrial markets — Speed Bay closed this expansion into a new region roughly two years after its founding, underscoring how much institutional capital continues to chase shallow-bay product even as broader industrial leasing has cooled from its pandemic-era peak.
Related: EQT Real Estate Secures $268 Million Financing for 2.8 Million-Square-Foot Industrial Logistics Portfolio and MDH Partners Buys Sunrise, Fla., Industrial Property for $40.1 Million After Decade-Long Hold.
