Credit: Nearmap/County of Bucks
An automated fulfillment company has signed a lease to occupy a nearly 1-million-square-foot warehouse in Falls Township.
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Exol, a California-based firm specializing in AI-driven logistics, will fully occupy the South Penn Logistics Center at 2300 South Pennsylvania Avenue in the Morrisville section of the township near the Delaware River.
The 973,200-square-foot facility was completed last year by Chicago-based Logistics Property Company (LPC).
The property was sold to LPC for $53 million in 2021, according to Bucks County property records.
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The agreement stands as the fourth-largest single-building industrial lease in the regional market since the beginning of 2024, according to the Philadelphia Business Journal.
For Exol, which was founded in 2023 and formerly operated under the name GreenBox, the site will serve as its sixth location and its first in the Philadelphia area.
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The site’s redevelopment followed a 4-0 preliminary approval by the Falls Township Board of Supervisors in February 2023.
The supervisors had hoped at the time that the site could bring 500 new jobs to the area.
The 96-acre project on the former Solvay tract and portions of the Rogers foam tract required the township to amend zoning rules to allow warehouses in the riverfront district.
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Officials previously projected the facility would generate $963,000 in annual real estate taxes for the Pennsbury School District, along with $41,000 in municipal taxes and $33,000 in local services taxes.
During the planning phase in 2023, supervisors raised concerns regarding the site’s past environmental history and its location within a floodplain.
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“How are we going to make sure you guys don’t flood?” Supervisor Erin Mullen asked during a 2023 meeting.
In response, representatives stated they would seek a floodplain permit and request that FEMA adjust the boundary to move the property out of the flood zone.
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Speaking of past contamination on the tract, Eric Moser, LPC vice president of development management, told the supervisors that an environmental covenant exists on a portion of the site. He said the contaminated area has been remediated and capped, and is “not intended to be disturbed.” Civil engineer Victor Grande added that the area remains fenced off.
The new center is not far from the massive Keystone Trade Center project, which included a number of large logistic centers and an under-construction Amazon data center.
