LINDEN, NJ-An Australia-based developer has gotten approvals inplace for its US subsidiary Goodman Birtcher tobuild a $350 million logistics center at the formerGAF site here, which has been vacant for nearly 20years. The company plans to build five buildings over five years,starting work in 2015.

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The project is one part of the global company's recentlyannounced $1.4 billion development program in the key logisticsmarkets of California, Pennsylvania and New Jersey, according toGoodman Group, the parent. The Linden project willbe the company's first in the Northeast.

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At the New Jersey site, the Cassidy Turley teamof Larry Casey, Doub Bansbach and AndrewHouston arranged the sale of the property. The projectapproval was given earlier this month, according to cityofficials.

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The city approved the development of five high-gradedistribution warehouses for a total of 2.8 million square feet. Thebuildings would be delivered in three phases over five years.

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When finished, the complex would generate $5-$6 million inannual tax revenues, the city has estimated. "This is going to makea major in difference to Linden and to Union County. I'm veryexcited," said Linden's mayor, RichardGerbounka.

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The logistics company decided to move on the project in light ofthe new logistics opportunities opened up by the BayonneBridge-raising project now under way, its executives said. The raising of the bridge across the Kill van Kull will permit theworld's largest container ships coming via a widened Panama Canalroute to get to port terminals in Newark, Elizabeth and StatenIsland, NY. The Port Authority of New York and NewJersey launched the $1.3 billion project to raise theroadway on the bridge last year.

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Meanwhile, Goodman Birtcher and GAF's successor entity,ISP, have agreed to fund the building of anoverpass to a working rail line at the industrial site, so it cancontinue to serve another company in Carteret.

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Brandon Birtcher, CEO of Goodman Birtcher, said Linden'sentitlement approval builds momentum in the rollout of itsdevelopment program. “We are targeting logistics locations acrossthe US at the right time to take advantage of the recovery in USinvestment demand drivers and the limited supply of class A big boxwarehouse space,” Birtcher said.

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