Logan Township, NJ — On June 22, Dermody Properties, a national industrial acquisition, development and operating firm headquartered in Reno, Nev., and Great Point Investors LLC broke ground on a new distribution facility at LogistiCenterSM at Logan, a 5.5 million s/f, class A industrial park located in Logan Township.
The companies broke ground on a 393,120 s/f building located at 2810 Oldmans Creek Rd. Construction is expected to be complete in fall of 2016. Upon completion, the facility will be well suited for e-commerce, food and beverage, and consumer product warehousing and distribution operations. The facility is e-commerce compliant with 36 feet of clear height, 186 car parking spaces and 129 trailer spaces.
LogistiCenterSM at Logan is located halfway between New York City and Washington, DC, in the heart of the Northeast Transportation Corridor. Its location provides access to I-295, the New Jersey Turnpike, the Pennsylvania Turnpike, I-476 and the Eastern Seaboard. The industrial park is within 15 miles of the Delaware River ports in Camden, Philadelphia and Wilmington.
Great Point Investors is the strategic capital partner on the project. Marc Isdaner, Michael Zerbe and Mark Chubb of Colliers International are marketing the property on behalf of Dermody Properties and Great Point Investors.
“We are very happy to take this next step with Dermody Properties to fulfill our goal of making LogistiCenterSM at Logan the premier industrial park in southern New Jersey,” said Joseph Versaggi, principal, Great Point Investors. “The quality of the tenants at LogistiCenterSM at Logan demonstrates clearly what we have been able to achieve here.”
“Dermody Properties has been investing in New Jersey and specifically in LogistiCenterSM at Logan for many years,” said Douglas Kiersey, Jr., president, Dermody Properties. “It is an excellent distribution market for companies that need to reach both national and international customers.”
LogistiCenterSM at Logan is a 1,100-acre industrial park with 7 available lots ranging from approximately 50,000 s/f to over 1,000,000 s/f. Upon total build-out, the park will accommodate more than 5.5 million s/f of industrial, distribution and light manufacturing facilities. Currently, LogistiCenterSM at Logan is home to several existing buildings occupied by a diverse group of tenants, including Albert’s Organics, hhgregg, Kimberly Clark Corporation, Mission Produce, Performance Food Group, Penske, Sears and Veroni.