News
Construction Starts on Multi-Tenant Industrial Facility in Southern New Jersey
Dermody Properties has started construction on a new multi-tenant facility in LogistiCenter Logan, our 7.4-million-square-foot industrial park in Logan Township, New Jersey.
The multi-tenant facility, located at 1110 Commerce Blvd., will total 171,600 square feet. Construction is expected to be complete in Summer 2015. Upon completion, the facility will be fully operational and ideally suited for e-commerce, food and beverage, and consumer product warehousing and distribution. It will feature 32-feet of clear height, 105 car parking spaces and 39 trailer parking spaces.
“Last spring we updated the master plan for LogistiCenter Logan to offer a wide variety of building sizes and configurations to meet the broad spectrum of industrial demand,” said Gene Preston, partner, Dermody Properties East Region Office. “It is exciting to now be starting construction on the first building in that revised master plan.”
LogistiCenter Logan is located halfway between New York City and Washington, D.C., in the heart of the Northeast Transportation Corridor. This location provides exceptional access to I-295, the New Jersey Turnpike, the Pennsylvania Turnpike, I-476 and the Eastern Seaboard. Additionally, the industrial park is within 15 miles of the Delaware River ports in Camden, Philadelphia and Wilmington.
1110 Commerce Blvd. Rendering
Blue Rock Construction is serving as Dermody Properties’ construction partner, and Colliers International is marketing the property. Great Point Investors LLC is the strategic capital partner on the project.
“We are pleased to be starting construction on another facility in LogistiCenter Logan,” said Douglas A. Kiersey, Jr., president of Dermody Properties. “The demand for industrial properties across New Jersey has been on the rise, and we will continue to provide state-of-the-art facilities in this highly desirable market.”
LogistiCenter Logan is a 1,100-acre industrial park with 11 available lots ranging from 17,000 to 1,000,755 square feet. It is located halfway between New York City and Washington, D.C., in the heart of the Northeast Transportation Corridor. Upon build out, the park will accommodate over 7.4 million square feet of industrial, distribution and light manufacturing facilities. Currently, LogistiCenter Logan is comprised of several existing buildings occupied by a diverse group of tenants, including Performance Food Group, Mission Produce, Albert’s Organics, Kimberly Clark Corporation, Sears and hh gregg.
LogistiCenter is a national trademark brand, owned and developed by Dermody Properties. It represents the firm’s business philosophy of developing Class A distribution facilities that meet the supply-chain requirements of its clients. All LogistiCenter facilities are designed to meet best practices in sustainable design and construction, and incorporate building features, such as additional clear height and extra trailer and car parking, that enable companies to execute their operations more effectively and efficiently.
About Great Point Investors
Great Point Investors is an SEC registered real estate advisor for institutional clients. Since its inception in 1998, the firm has completed over 110 transactions in 30 different industrial and office markets. Great Point’s investment experience includes core, value-added and opportunistic investments, using a variety of investment structures including joint venture, equity and debt.