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LOGAN TWP., NJ-The assignment to find tenants for DP Partners’ 1,000-acre LogistiCenter at Logan industrial park has gone to the Philadelphia office of CB Richard Ellis. Heading the assignment for CBRE will be SVP Bill Goodwin.

DP Partners, formerly known as Dermody Properties, bought the park earlier this summer from the New Castle, DE-based Harvey Development Co. for an undisclosed price. That particular transaction was arranged by Goodwin and CBRE colleague Michael Hines.

Then known as Northeast Business Center, the park was renamed by DP Partners with the company’s LogistiCenter brand. The company plans to build the property’s existing two million sf of space out to a total of 5.5 million sf of W/D, manufacturing, R&D, office and flex space. Company officials have put a $200-million price tag on the build-out.

“It’s being designed and developed to meet the warehouse and distribution requirements of global supply-chain operators,” says Aaron H. Paris, EVP and COO of the Reno, NV-based DP Partners. “Our tenants, for the most part, have global operations that ultimately involve passage through the Northeast market.”

DP Partners will be starting construction shortly on a speculative 360,000-sf warehouse building within the park, according to Paris. The rest of the available land is being marketed for requirements from 4,000 sf to 1.2 million sf in a combination of single- and multi-tenant facilities. The site plan also calls for 10 acres set aside for retail development, and some 400 acres will be left undeveloped as designated wetlands by the New Jersey DEP and US Army Corps of Engineers.

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