Greek Real Estate Partners, Principal Asset Management Secure $11.84M TD Bank Construction Loan for Bristol, PA Industrial Project

Greek Real Estate Partners and Principal Asset Management have closed on the acquisition of a fully improved, pad-ready development site at 805 N. Wilson Avenue in Bristol, Pennsylvania, and secured $11.84 million in construction financing from TD Bank Bank for a 100,170-square-foot Class A industrial facility, the firms announced July 28, 2026.

The site was acquired through the Principal Asset Management Green Property Strategy, marking the first investment between Greek Real Estate Partners and Principal under that strategy. The construction loan also represents the partnership's first financing with TD Bank, on a team led by Mark Melchione and John Fagan.

Deal Background and Partnership History

The transaction deepens a 40-year relationship between Greek Real Estate Partners and Principal Asset Management that already encompasses the Bristol Industrial Park — more than 2 million square feet of industrial product largely developed throughout the 1980s — and, more recently, the Langhorne Logistics Center in Langhorne, Pennsylvania.

Alex Motiuk, Director of Investments and Capital Markets for Greek Real Estate Partners, cited the site's readiness as a key factor in the decision to move forward.

"Bucks County is one of the hardest places in the region to find land for new industrial development, and a site this size that comes ready to build is rarer still," Motiuk said. "With the site work complete and financing in place, we can move straight to construction and deliver the kind of modern space tenants in this market are looking for."

Building Specifications and Location

The planned facility at 805 N. Wilson Avenue will feature a 36-foot clear height, 20 loading docks, two drive-in doors, and a 2,400-square-foot speculative office component. The building will be served by 1,200-amp, three-phase, 480/277V electrical service and will include parking for 58 cars and six trailers. The project is targeting Two Green Globes certification.

The property is positioned directly adjacent to the Delaware River Bridge, providing immediate access to I-95, the Pennsylvania and New Jersey Turnpikes, PA Route 13, and PA Route 413. The location connects to Philadelphia, Bucks County, Southern New Jersey, and the broader Greater Philadelphia metropolitan statistical area. The facility's midsize footprint is designed to serve regional distribution, light manufacturing, and logistics users.

Greek Real Estate Partners will oversee development through its integrated platform, with Greek Design|Build serving as general contractor. Completion is projected for the first quarter of 2027.

Bucks County Industrial Market Context

The project is entering a supply-constrained submarket. Bucks County had fewer than 350,000 square feet of industrial space under construction as of the first quarter of 2026, according to Newmark Research, while the broader Greater Philadelphia industrial pipeline has fallen to a five-year low.

At the same time, leasing demand across Greater Philadelphia has remained firm. The region recorded more than 6.7 million square feet of industrial leasing in the first quarter of 2026 — its strongest start since 2022 — with Class A facilities accounting for more than half of that volume. Long-term structural drivers, including e-commerce growth and supply chain realignment, continue to underpin demand even as new supply retreats.

Leasing and Next Steps

Newmark has been retained as exclusive leasing agent for 805 N. Wilson Avenue, with a team led by Nick Pickard. Prospective tenants can review full building specifications and submit leasing inquiries at 805nwilson.com.