BRIEF: Campbell adds another parcel for office park plan

Wed. July 01, 2009; Posted: 12:06 PM

Jul 01, 2009 (The Philadelphia Inquirer - McClatchy-Tribune Information Services via COMTEX) -- CPB | Quote | Chart | News | PowerRating -- Campbell Soup Co. said it has completed acquisition of a 1.9-acre property from the Delaware River Port Authority for use in its proposed 100-acre office park.

The parcel, a parking lot between 11th Street and Admiral Wilson Boulevard, was acquired for $426,000, the company said.

Campbell purchased the land, which had been used as a parking lot, for $426,000. The property is between 11th Street and Admiral Wilson Boulevard in Camden, next to three other properties that Campbell purchased: a former commercial laundry, a building housing a former elevator repair operation, and a City Parking Authority lot).

The company now has an entire stretch of land from 11th Street to Admiral Wilson Boulevard, between Newton and Mount Ephraim Avenues, available for the office park. Company headquarters are to occupy 40 acres of the park.

Campbell expects to invest as much as $90 million in the project, with government agencies investing about $23 million to upgrade roadways and other utilities.

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For full details on Campbell Soup Co (CPB) click here. Campbell Soup Co (CPB) has Short Term PowerRatings of 6. Details on Campbell Soup Co (CPB) Short Term PowerRatings is available at This Link.

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