LOGAN TOWNSHIP, NJ—Underscoring the surging interest in New Jersey industrial assets, Dermody Properties and Great Point Investors have started construction on a new distribution facility at LogistiCenter at Logan, a 5.5-million-square-foot, class A industrial park located in Logan Township.
The companies broke ground on a 393,120-square-foot building located at 2810 Oldmans Creek Road. It’s Dermody’s ninth building in the industrial park. Construction is expected to be complete in fall of 2016. Upon completion, the facility will be well suited for e-commerce, food and beverage, and consumer product warehousing and distribution operations. The facility is e-commerce compliant with 36 feet of clear height, 186 car parking spaces and 129 trailer spaces.
“We are excited to break ground on another facility in LogistiCenter at Logan,” said Gene Preston, partner, Dermody Properties East Region Office. “The park is strategically located with convenient access to the interstate, highway and railway systems, multiple ports, and two international airports. This location combined with our modern and efficient building designs have made LogistiCenterat Logan a thriving industrial park.”
LogistiCenterat Logan puts 40 percent of the total U.S. population and one of the world’s largest consumer markets within a one-day drive of its tenants. The industrial park is located halfway between New York City and Washington, DC, in the heart of the Northeast Transportation Corridor. Its location provides exceptional access to I- 295, the New Jersey Turnpike, the Pennsylvania Turnpike, I-476 and the Eastern Seaboard. The industrial park is within 15 miles of the Delaware River ports in Camden, Philadelphia and Wilmington.
Great Point Investors is the strategic capital partner on the project. Marc Isdaner, Michael Zerbe and Mark Chubb of Colliers International are marketing the property on behalf of Dermody Properties and Great Point Investors.
“We are very happy to take this next step with Dermody Properties to fulfill our goal of making LogistiCenter at Logan the premier industrial park in southern New Jersey,” says Joseph Versaggi, principal, Great Point Investors. “The quality of the tenants at LogistiCenter at Logan demonstrates clearly what we have been able to achieve here.”
“Dermody Properties has been investing in New Jersey and specifically in LogistiCenter at Logan for many years,” says Douglas A. Kiersey, Jr., president, Dermody Properties. “It is an excellent distribution market for companies that need to reach both national and international customers. We are pleased to add another facility to the park, and plan to continue investing in it until it is built out to its total capacity.”
LogistiCenter at Logan is a 1,100-acre industrial park with seven available lots ranging from approximately 50,000 square feet to more than one million square feet. Upon total build-out, the park will accommodate more than 5.5 million square feet of industrial, distribution and light manufacturing facilities. Currently, LogistiCenter at Logan is home to several existing buildings occupied by a diverse group of tenants, including Albert’s Organics, hhgregg, Kimberly Clark Corporation, Mission Produce, Performance Food Group, Penske, Sears and Veroni.