Philadelphia’s Department of Aviation has acquired a large office property near Philadelphia International Airport for $42 million.

The agency purchased the vacant building at 8800 Tinicum Boulevard from Office Properties Income Trust. The transaction equates to approximately $95 per square foot.

The five-story building spans approximately 441,000 square feet across a 32-acre site. Its location sits directly across Interstate 95 from Philadelphia International Airport.

PNC Bank previously occupied the property before vacating in early 2024. Since then, the building has remained empty.

For now, the Department of Aviation does not have immediate redevelopment plans for the property. Instead, the building could remain vacant for approximately three years.

Meanwhile, the agency is completing a Master Plan Update for Philadelphia International Airport. The initiative will guide the airport’s long-term modernization and infrastructure investments.

The planning process includes projections for passenger demand through 2040. Additionally, the strategy will establish a 20-year capital improvement program for airport facilities.

The property previously attracted interest as a potential industrial redevelopment opportunity. Plans once called for replacing the office building with a 477,500-square-foot logistics facility.

However, that redevelopment never moved forward.

The sale also marks Office Properties Income Trust’s exit from Philadelphia’s office market. The Tinicum Boulevard property was the trust’s final office asset in the city.

With 32 acres near the airport and direct access to major transportation infrastructure, the property offers significant long-term potential. Its future could become clearer as Philadelphia advances its airport master planning process.

*Article courtesy of Costar

For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.