LOGAN TWP., NJ-DP Partners is getting ready to start construction of a second W/D building within its LogistiCenter at Logan, a 1,000-acre rail-served industrial park here. The 365,760-sf building, expected to be ready by the end of 2007, is being built on a spec basis. It's designed to accommodate either a single user or multiple users in increments of 86,400 sf, says Stephen Bailey, director of DP's Mid-Atlantic regional office, Harrisburg, PA.
"Besides the logistics benefits of access to rail transportation infrastructure, tenants will have access to I-295, which is less than a mile away," says Michael Alderman, director of leasing for DP's Mid-Atlantic region. "The building itself offers storefront entrances on all four corners, providing high visibility. Large industrial development sites are in short supply with sites accommodating more than 100,000 sf difficult to find, and considering the limited inventory, bringing a 365,760-sf spec building on line at this time puts us in a very competitive position."
Located on 25 acres at 2100 Center Square Rd. within LogistiCenter at Logan, the building is the second to go into the ground within the park. As reported by GlobeSt.com, the Reno, NV-based DP Partners completed a similarly sized building this past October. That initial building is still on the market but, "We are currently in negotiations for the entire facility," Alderman says. "And we are already fielding inquiries about our second building."
DP bought the 1,000-acre tract then known as Northeast Business Park in 2005 from the New Castle, DE-based Harvey Development Co. and promptly re-dubbed it with its LogistiCenter brand. The site has a total build-out capacity of some 5.5 million sf.
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