In a statement, the Port said the new near-dock warehouse will “fuel the next phase of development for one of the fastest growing ports in America”.
The $42 million, 201,621 square foot building is a critical step in the development of the Port’s Packer Avenue Marine Terminal, the region’s main container terminal.
The new food-grade warehouse is one mile from the marine terminal and will help the Port attract new shippers and ocean lines.
PhilaPort is the fastest growing container port in the USA, and this facility is expected to continue to propel growth.
Last year, the Port moved a record 640,000 TEU and achieved 7% growth during a difficult global economic environment. Compound annual growth over the past 10 years has been 10%.
Governor Tom Wolf said the new warehouse will be a critical component of the plan to grow the Port as rapidly as possible.
“As a result of our infrastructure improvements, the same large ships that have been calling neighboring ports can now call The Port of Philadelphia,” Wolf explained.
“As we continue to recover from the COVID-19 pandemic, now is the time to accelerate our throughput and growth.”
PhilaPort Executive Director and CEO Jeff Theobald, also commented, “We will leverage this building to bring new ocean carrier services to Philadelphia, and to bring major new beneficial cargo owners (BCOs) to our Port.
“Our proximity to the Lehigh Valley and other major distribution center hubs cannot be overstated. But for some shippers, the need for near-dock warehousing like the PhilaPort Distribution Center is critical.”
Holt Logistics will be the operator of the new building, which will serve as a major adjunct to the container operations at Packer Avenue Marine Terminal.
This new warehouse will allow the Holt organization to get containers off the terminal and rapidly unloaded into a state-of-the-art facility.
Containers can then be returned directly to the marine terminal or moved to a Pennsylvania factory to be loaded with exports, further expanding opportunities for local and regional commerce.
Leo Holt, president of Holt Logistics Corp, was quoted, “We often use the phrase ‘a rising tide lifts all boats’, but in this case our rising land-based infrastructure will lift the entire Philadelphia region to new heights.
“As a marine terminal operator, one of the main pillars of our service profile is velocity. Today’s shippers demand it. It is essential to our aspirations to grow The Port of Philadelphia’s throughput by 100%.”