Exelon Generation Co. LLC has tapped Philadelphia's Binswanger real estate brokerage to sell Delaware Station, the former Philadelphia Electric Co. power plant on 16.4 acres at 1325 N. Beach St., next door to Penn Treaty Park in the city's renovated Fishtown section. The package, split in two lots, includes almost 6 acres underwater, the hulking 223,000 sq. ft. plant on 5 acres, a 4-acre leased surface parking lot that can be shut on six months notice, and a 1-acre back-up Exelon generator bank that's slated to stay running until 2030.
According to a statement by Binswanger's Frank Cullen and Chris Pennington: "The property will be sold on a sealed bid process with offers due in writing by 5 PM November 3, 2014. All potential buyers must register with Binswanger by October 15, 2014." Learn more at www.delawarestation.com.
The deal includes almost a thousand feet of Delaware River waterfront and sits northeast of Center City near the Girard Ave. exit on I-95, close to the expanding Sugar House casino, the Waterfront Square high-rise apartments, and the renovated and newly-constructed homes, apartments, bars and restaurants of the former Northern Liberties factory neighborhood. Binswanger estimates current yearly taxes at around $36,000. The online offering sheet doesn't mention clean-up issues, nor estimate a price.
SEE ALSO: Peco veteran says the Fishtown plant was built on top of shipyards and machine works that built the first American Navy destroyer, the first steam fire engine, and other historic machines.