Key Takeaways
- • Bridge Investment Group, a Salt Lake City-based firm, acquired Tastykake's Philadelphia Navy Yard headquarters for $87 million in a sale brokered by JLL.
- • The 345,500-square-foot facility serves as Tastykake's bakery, distribution center, and corporate headquarters in South Philadelphia.
- • Prologis, the logistics real estate owner that acquired the property in 2020 following its merger with Liberty Property Trust, divested the asset after listing it in September 2025.
- • The transaction represents a significant real estate repositioning for a historic Philadelphia manufacturing and food production site within the Navy Yard complex.
Summary
Tastykake's longtime headquarters at the Philadelphia Navy Yard has been sold to Bridge Investment Group, a Salt Lake City-based investment firm, in an $87 million transaction. The property, which encompasses 345,500 square feet, functions as the iconic Philadelphia bakery company's integrated bakery, distribution facility, and corporate headquarters located in South Philadelphia's Navy Yard district.
Prologis, the logistics-focused real estate operator, served as the seller. Prologis had held ownership of the asset since 2020, when it acquired the property through its merger with Liberty Property Trust. The firm listed the facility for sale in September 2025 and completed the disposition in May 2026. JLL served as the broker facilitating the transaction.
The sale underscores ongoing capital redeployment within the industrial and logistics real estate sector, as major operators rationalize portfolios and exit non-core assets. Bridge Investment Group's acquisition of the Tastykake facility reflects continued institutional investor appetite for industrial properties with established operational anchors and geographic advantages within the Northeast corridor.
Prologis, the logistics-focused real estate operator, served as the seller. Prologis had held ownership of the asset since 2020, when it acquired the property through its merger with Liberty Property Trust. The firm listed the facility for sale in September 2025 and completed the disposition in May 2026. JLL served as the broker facilitating the transaction.
The sale underscores ongoing capital redeployment within the industrial and logistics real estate sector, as major operators rationalize portfolios and exit non-core assets. Bridge Investment Group's acquisition of the Tastykake facility reflects continued institutional investor appetite for industrial properties with established operational anchors and geographic advantages within the Northeast corridor.
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