LINDEN, NJ—A joint venture of Advance Realty and Greek Development will build a massive a 4.1-million-square-foot, state-of-the-art logistics park on a 350-acre tract of land in Linden, NJ, that the partnership acquired earlier this year.
When the park is completed in late 2020, Linden Logistics Center will be the largest active industrial development in the Port of New York/New Jersey region.
“We are extremely excited to partner with Greek Development on this transformative project in the heart of one of the country’s premier commercial corridors,” Advance Realty CEO Peter Cocoziello says. “New Jersey has long been known for its thriving industrial market, and this first-class development will cater specifically to the fast-growing logistics, distribution and fulfillment businesses that are currently fueling the sector’s growth.”
“With this development, Advance and Greek will create not just one of the largest logistics parks in the New York/New Jersey region, but a venue that can help the area maintain its longstanding position as a leader in the nation’s industrial market,” says Frank Greek, president of Greek Development. “As e-commerce, last-mile delivery and other 21st century industries continue to reshape and drive our economy, we are working to ensure they will have truly first-class facilities that help them meet their evolving needs.”
Advance and Greek have retained CBRE executive vice president Mindy Lissner and executive vice president William Waxman, supported by a 10-person team including Tom Sullivan and Kevin Dudley, to serve as exclusive leasing agent for the development’s eight class A warehouse buildings, which are being designed to meet the needs of logistics, distribution, fulfillment, manufacturing, last-mile-delivery, and other modern industrial users.
Located off Tremley Point Road, Linden Logistics Center will be situated just 10 miles from the Port of New York and New Jersey—the largest port on the East Coast and the third-largest port in the United States – and minutes from the New Jersey Turnpike (Interstate 95) and Newark Liberty International Airport. The location provides exceptional access to one of the world’s most concentrated and affluent customer bases, with approximately 100 million consumers located within a day’s drive from the property.
“I’m excited that Advance Realty and Greek Development see our vision that Linden is the investment of the future,” says Linden Mayor Derek Armstead. “This land has been vacant for over 25 years. Only when vision and opportunity meet can an incredible project like this happen. When completed, the Linden Logistics Center will be one of the largest industrial warehouses and office complex facilities in our State and in the Northeast. This will bring more jobs, opportunities and, perhaps help stabilize or continue to reduce city taxes.”
“I can’t think of a better development project for the city of Linden and other neighboring cities in Union County,” says Alex Lospinoso, executive director of the Linden Economic Development Corporation. “Not only is this project going to provide great tax revenues for the city of Linden, it will also completely revitalize the local job market and create renewed opportunity for other local business owners. Moving this project forward will also create an opportunity for our state government to finally step up to the plate and make the necessary enhancements to our heavily congested infrastructure that has been put on hold for decades.”
In addition to its prime location, Linden Logistics Center offers flexible layouts to suit specific tenant needs, excess car and trailer parking, rail access, water access, cross-docking capability and access to a high-quality workforce in the New York-New Jersey area.
“New Jersey has one of the largest concentrated critical masses of warehouse and distribution space in the U.S., thanks in large part to its vast and exhaustive infrastructure network of highways, deep-water cargo ports, air freight capabilities rail lines and access to New York City,” says Lissner of CBRE. “With the creation of this state-of-the-art facility, Advance and Greek can look forward to strong interest from the growing number of food, consumer product, household goods, and e-commerce tenants actively exploring and expanding into this critical market.”