Newmark Group secured a 1.4‑million‑square‑foot industrial lease with DrinkPAK at The Bellwether District in Philadelphia, marking the largest industrial transaction in the city since 2020 and the fourth‑largest in the region’s history.
The lease places DrinkPAK’s high‑density manufacturing footprint on the former Philadelphia Energy Solutions refinery site, a 1,300‑acre hub that offers multimodal connectivity and access to a 250‑mile consumer base.
Newmark’s leasing business has been a key growth driver; Q3 2025 revenue reached $863.5 million, up 25.9% year‑over‑year, and earnings per share were $0.42, beating estimates. The new lease adds significant recurring revenue and cross‑selling opportunities with Newmark’s capital‑markets advisory work on the same site.
The Bellwether District is a transformative redevelopment project aimed at e‑commerce, life sciences, and logistics, expected to create 19,000 direct jobs. The lease signals renewed confidence in Philadelphia’s industrial market amid rising vacancy and slowed construction.
Nick Pickard, Managing Director at Newmark, said the commitment "represents a defining moment for both the project and the region," highlighting job creation, supply‑chain expansion, and long‑term potential.
DrinkPAK, a leading contract manufacturer of canned beverages, is expanding nationally; this Philadelphia facility is its first in the eastern U.S., adding to nearly 5 million square feet of leasing across the country.
The lease is expected to contribute materially to Newmark’s top‑line and margin expansion in coming quarters, reinforcing its strategy of securing long‑term tenants in competitive logistics corridors.
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