Specifically, Bill Goodwin, a senior vice president at CBRE, was the sole broker involved in the transaction. The seller of the site was the New Castle, DE-based Harvey Development, owner and developer of Northeast Business Center.
Located just off I-295 in this South Jersey community, Northeast Business Center has received preliminary approval for the construction of up to 11.5 million sf of warehousing/distribution space, as well as research and development space. According to Goodwin, Cardinal Health has already launched construction of its new facility, which will feature 39-ft clear ceilings. The building could be ready by as soon as the end of this year.
The total project costs, including the acquisition of the site, are in the $10-million range, according to Goodwin. Designed to be expandable to as much as 330,000 sf, the new warehouse/distribution facility will replace an existing Cardinal Health operation in a 110,000-sf building at 504 Sharptown Rd. in the adjoining Pureland Industrial Complex.
Cardinal Health is a provider of products and services supporting the healthcare industry. The Dublin, OH-based company, which does $50 billion a year in annual revenues, develops, makes, packages and distributes pharmaceuticals and medical, surgical and laboratory supplies. The company, which will use the facility as a regional distribution center, also provides consulting services.
The sprawling Northeast Business Center is Harvey Development's sole property in the Garden State. The company owns several industrial and commercial properties in its home state of Delaware, as well as the Northwood Industrial Park in Salisbury, MD.
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