Dermody Properties Leases 401,008 Square Feet in New Jersey to Kenco Logistics
Kenco Expects to Create 50 Jobs with New Facility
Dermody Properties recently leased 401,008 square feet in its LogistiCenter℠ at Logan industrial park to Kenco Logistics (Kenco). Kenco specializes in distribution and fulfillment, transportation management, material handling, real estate management and information technology.
Kenco will use the new facility, located at 395 Pedricktown Rd., for storage and distribution of their customers’ products. This new facility will accompany 90 other Kenco warehouse locations, and is expected to add 50 new jobs to the region initially. Kenco has leased 401,008 square feet of the building at 395 Pedricktown Rd., and 80,750 square feet remains available for lease.
Marc Isdaner, Mark Chubb and Michael Zerbe of Colliers International represented Dermody Properties in the transaction. Vincent Ranalli and William Goodwin of CBRE represented Kenco. The building was designed by Ware Malcomb and Blue Rock construction is serving as the contractor for tenant improvements. Kenco is expected to move into the building in January.
“We are pleased to welcome Kenco to the growing list of companies at LogistiCenter℠ at Logan,” said Gene Preston, partner, Dermody Properties’ East Region Office. “We believe this building will prove to be a strong addition to Kenco’s transportation and warehouse network.”
“We are excited to add this facility to our nationwide network of distribution centers,” said David Caines, chief operating officer at Kenco. “We are equally excited to bring new jobs to the area.”
LogistiCenter℠ at Logan is a 1,100 acre, master-planned Class A industrial park in Logan Township, N.J. planned for over 5.5 million square feet of warehouse, distribution and manufacturing space. LogistiCenter℠ at Logan is located off I-295 and the New Jersey Turnpike and is only 15 miles from the Delaware River ports in Camden, Philadelphia and Wilmington. Its strategic location puts 40% of the total U.S. population within a one-day drive. Currently, two sites remain available for sale or lease in LogistiCenter℠ at Logan, one totaling 193,443 square feet and the other totaling 369,000 square feet.