News
Construction Begins on 9th Facility in New Jersey Industrial Park
Dermody Properties recently broke ground on a new distribution facility at LogistiCenterSM at Logan, a 5.5-million-square-foot, Class A industrial park located in Logan Township.
Great Point Investors is the strategic capital partner on the project. The companies broke ground on a 393,120-square-foot building located at 2810 Oldmans Creek Road. 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.
Pictured from left to right: James Mascaro, Steven Karpf, and Jeff Zygler, Dermody Properties; Joseph Versaggi, Great Point Investors; Gene Preston and Nicole Cantor, Dermody Properties.
“We are excited to break ground on another facility in LogistiCenterSM 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 LogistiCenterSM at Logan a thriving industrial park.”
LogistiCenterSM at 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, D.C., 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.
“We are very happy to take this next step with Dermody Properties to fulfill our goal of making LogistiCenterSM at Logan the premier industrial park in southern New Jersey,” said Joseph Versaggi, Principal, Great Point Investors. “The quality of the tenants at LogistiCenterSM at Logan demonstrates clearly what we have been able to achieve here.”
LogistiCenterSM at Logan is a 1,100-acre industrial park with 7 available lots ranging from approximately 50,000 square feet to over 1,000,000 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, LogistiCenterSM 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.
“Dermody Properties has been investing in New Jersey and specifically in LogistiCenterSM at Logan for many years,” said 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.”