MILLSTONE, NJ — The Millstone 8 Logistics Center development partnership, led by Crow Holdings Industrial, announced that it has begun construction on two state-of-the-art logistics buildings, comprising of 1 million s/f and 220,000 s/f respectively, at 505 Rte. 33 in Millstone. Crow Holdings Industrial with its partners The Carlyle Group and 2020 Acquisitions completed the acquisition of the development’s 140-acre parcel of land in May.
The Millstone 8 Logistics Center will be located on Rte. 33, and benefits from the modernized Exit 8 interchange on the New Jersey Tpke., which is unencumbered by traffic and provides efficient access to both Metropolitan New York/Tri-State region and greater Philadelphia/Southern New Jersey.
“Millstone 8 Logistics Center will meet a rapidly accelerating demand for modern logistics facilities in the Northeast, providing one of just a few options for tenants seeking occupancy of a million s/f building. The improvements made to the Exit 8 interchange associated with the widening of the New Jersey Tpke. have made access to the property extremely efficient for industrial operations. Overall, this property will be a very attractive location for tenants seeking cutting-edge industrial space across the region,” said Clark Machemer, senior managing director at Crow Holdings Industrial.
The two industrial buildings will be class A modern logistics facilities featuring best-in-class site amenity ratios, full circulation, and the ability for tenants to have independent security. The larger of the two buildings will feature a 40’ clear height, 274 dedicated trailer parking stalls and 172 loading doors. The 220,000 s/f building will have a 36’ clear height, 37 dedicated trailer parking stalls, and 50 loading doors in a cross-dock configuration.
Construction is anticipated to be completed in early 2Q 2022.
“New Jersey remains one of the strongest industrial markets in the country, and developable land in proximity to the Turnpike has become increasingly hard to find,” said Efrem Gerszberg, CEO of 2020 Acquisitions. “With the e-commerce evolution, there is growing demand for distribution facilities with entitlements in hand, and we look forward to realizing our vision for the property in the near future.”
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