Upper Mount Bethel, PA — CBRE announced updated plans for the development of River Pointe Commerce Park located in Upper Mount Bethel. The 725-acre industrial park, owned by River Pointe Logistics (RPL), will now consist of 15-buildings, totaling six million s/f Delivery of the state-of-the-art logistics space will begin in 2022.
The CBRE team of Jake Terkanian and Sean Bleiler, are spearheading the leasing campaign for this unique and one-of-a-kind development.
“In addition to the existing plans, the developer is in a unique position that allows the layout of the buildings to change to suit an array of industrial uses and is open to providing everything from build-to-suite lease or sale options to entitled pad site sales,” said Terkanian. “Given the lack of quality industrial space and the insatiable demand by logistics and e-commerce companies, we have already seen strong interest from a number of tenants including food and beverage and manufacturing, among others, who are attracted to the park’s unique attributes, including the potential to have 100-foot building heights.”
The first building, 303 Demi Rd., scheduled for delivery in 2022, will offer 420,000 s/f of industrial space with 45-foot building heights, 42 docks and two drive-in doors. A 168 MW high voltage substation is situated adjacent to the site, making it ideal for multiple uses, including manufacturing.
River Pointe Commerce Park is ideally located just 1.5 miles from Exit 4 off Interstate 80, under 65 miles from the Port of NY/NJ and 80 miles from the Port of Philadelphia.
In Montclair, NJ — CBRE has completed the sale of 103 Grove St., a transit-oriented development site in Montclair, NJ. BB Capital LLC acquired the .73-acre parcel from Peptco and plans to develop a self-storage facility at the site.
The CBRE Investment Properties team of Charles Berger, Elli Klapper and Mark Silverman spearheaded the marketing campaign and negotiated the sale transaction on behalf of Peptco.
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