Davis and Petrucci Joint Venture to Develop Class-A Industrial Site in Northern New Castle County, Delaware

The Davis Companies (Davis) and J.G. Petrucci Company, Inc. (Petrucci) recently announced a joint venture to develop a 28-acre industrial warehouse site at 710 American Boulevard in Bear, Delaware, a submarket of the Greater Philadelphia area seeing significant demand for industrial and distribution space.

Conveniently located in the heart of the Mid-Atlantic region, the site will offer tenants access to a deep labor pool and local roadways including Route 40, 1-95, I-295 and the New Jersey Turnpike. Major port cities including Wilmington, Philadelphia, New Jersey and New York City, are all located within 150 miles of the site, which upon completion, will offer 361,700 SF of Class-A warehouse and distribution space.

“710 American Boulevard, centrally located in New Castle County with proximity to major distribution hubs on the East Coast, offers exactly the potential we are looking for to add to Davis’ industrial portfolio,” said Kevin Wong, Vice President of Investments at Davis. “Following an earlier partnership as part of Davis’ Fund III, we are thrilled to again collaborate with Petrucci on this investment to create a top-of-the-line industrial space that offers the flexibility needed to bring new talent and companies to the region.”

Plans for the space include 68 overhead loading dock doors, two drive-in doors, 30-foot candle lighting, 36’ clear height and 3,150 SF of move-in ready office space. Additionally, the project is pursuing LEED certification. It will also offer more than 50 trailer parking spaces and over 250 car parking spaces.

“J.G. Petrucci is excited to continue our long-term partnership with Davis on the development of 710 American Boulevard,” said Peter Polt, Project Executive at Petrucci. “Our teams share a commitment to delivering best-in-class facilities that meet the needs of today’s industrial tenants. We look forward to bringing our aligned expertise and collaborative approach to this project, which promises to be a state-of-the-art space in a highly strategic location.”

The project broke ground in September 2024. Delivery of the site is expected in Q3 2025. 710 American Boulevard is the latest successful milestone for Davis’ industrial portfolio, which is growing across the region and country. Davis has actively invested in industrial properties across key Mid-Atlantic, Northeastern and Southeastern markets with recent investments in Georgia, Virginia, and Massachusetts.