Hilco Acquires 1,300-Acre Refinery Site in Philadelphia
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.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).