(Save the date: RealShare Industrial 2012 comes to The Bankers Club, Miami, December 5 – 6.)
LOGAN TOWNSHIP, NJ – Dermody Properties has begun construction of a 70,000–square-foot facility that has been pre-leased to Albert’s Organics, Inc., a national distributor of organically grown fresh foods, in its LogistiCenter at Logan.
Stonemont Financial Group is a partner in the project, to be completed next April. The LogistiCenter is located at 1155 Commerce Blvd. in Logan Township in Gloucester County.
Albert’s Organics, Inc. is the leading distributor of fresh organic foods, including produce, meat, juices, dairy, soy products and more. Albert’s already operates seven distribution centers in various regions of the country. The new building will replace the company’s existing facility in Logan.
James V. Mascaro, Dermody’s Eastern Region director, was the company’s lead representative for the lease transaction. Stonemont Financial’s team included Zack Markwell and Bob McMahon, both principals.
“LogistiCenter at Logan is the perfect location for updating our busiest distribution center, and we believe it will help us serve our valued customers even more effectively and efficiently,” said Scott Dennis, Albert’s president in a statement.
The new facility can be easily expanded by 25,000 square feet, for a total of 95,000 square feet, according to the developer. The LogistiCenter at Logan is part of a 1,100-acre master-planned business park. There are 11 existing buildings in the park, totaling 3.4 million square feet. Other tenants of the industrial center include Sears, UPS, hhgregg, Cardinal Health, McKesson, Kimberly Clark and Vistar.
LogistiCenter is a national brand, owned and developed by Dermody Properties. “Our LogistiCenter facilities across the nation include Internet fulfillment centers, warehouses, manufacturing, assembly, processing, and research and development centers,” said Douglas A. Kiersey, Jr., president of Dermody.
Stonemont’s Markwell said, “We look to continue to partner with Dermody Properties on similar projects in their LogistiCenters across the country.”
Harry McKenna of Jackson Cross Partners of King of Prussia, PA, represented Albert’s on the lease/construction agreement. Paul Torosian of Cushman and Wakefield in Philadelphia represented Dermody.