June 29, 2020 Comments (0) Views: 1004 National News, Northeast, Pennsylvania, Properties

Hilco Acquires 1,300-Acre Refinery Site in Philadelphia

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Hilco Redevelopment Partners (HRP) completed its $225.5-million purchase of the 1,300-acre former Philadelphia Energy Solutions (PES) refinery in Southwest Philadelphia. HRP plans to develop a multi-modal logistics hub that will leverage the site’s infrastructure and location.

“Our plan is to transform the site into a commercial hub to be shared by dozens of world-class companies that will benefit from Philadelphia’s diverse workforce and strategic location with an environmentally responsible infrastructure that will be great for all Philadelphians,” said HRP CEO Roberto Perez. Operated as a refinery for more than 150 years, the site will require extensive remediation before being redeveloped.

Hilco Global CEO Jeffrey Hecktman said, “This is an extraordinary project for our firm. The site is located within a six-hour drive of one-third of the American population, and when completed it will serve as an important asset for the movement of commerce in the region and around the country.”

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