Exol, an automated fulfillment company based in Menlo Park, California, has leased the entire 973,200-square-foot South Penn Logistics Center in Morrisville, which is one of the Philadelphia area’s largest industrial deals in years, writes Paul Schwedelson for the Philadelphia Business Journal.
South Penn Logistics Center, which was completed last year by Chicago-based Logistics Property, had its lease announcement on Wednesday. The facility stands along the Delaware River, across from Trenton and just north of Keystone Trade Center.
Exol, which was founded in 2023 under the name GreenBox, focuses on using artificial intelligence to power automated fulfillment operations. The Bucks County facility will become its sixth location and its first in Greater Philadelphia. The deal also marks the company’s first lease since being rebranded to Exol.
The building has 40-foot clear heights and 174 dock doors, and also comes with 495 car parking spaces as well as 363 trailer parking spaces. The site is located just one mile from Route 1 and around five miles from both the I-295 and I-195 in New Jersey.
Read more about South Penn Logistics Center in the Philadelphia Business Journal.
