Dermody Properties Acquires Prime Logistics Real Estate in New Jersey
We recently acquired a logistics building at 150 Milford Road in East Windsor, N.J. The project has 615,000 square feet currently available for lease that will be ready for occupancy by 2020 after Dermody Properties completes building upgrades.
The building is less than a mile away from the New Jersey Turnpike and Route 33 and boasts an abundant nearby labor pool. It is centrally located and within 45 miles of Newark Liberty International Airport, Port Newark and Port Elizabeth.
“This location provides direct access to Exit 8 of the New Jersey Turnpike,” said Eugene Preston, East Region Partner for Dermody Properties. “The building represents one of the largest blocks of available space in the Central New Jersey industrial market.”
The building, located on 51.49 acres, was originally built in 1998 with a warehouse expansion added in 2003. The building features 28 trailer parking positions, 413 car parking stalls, 41 dock doors, two drive-in doors and a 36-foot clear height in the warehouse addition, making it well-suited for ecommerce operations.
“This new acquisition fits well with Dermody Properties’ strategy to procure logistics real estate in key markets across the nation,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “The asset provides an opportunity for our customers to grow their logistics network in one of the tightest submarkets in the country.”
Mindy Lissner and Steven Beyda of CBRE are the exclusive listing agents for this property.