Developer J.G. Petrucci Company Breaks Ground on First State-of-the-Art Industrial Building Set for Late 2021 Delivery
CBRE announced today it has been appointed the exclusive leasing agent for Port Logistics Center at Logan, Building A, a 1,028,530 sq. ft. speculative project located in the four-building industrial campus currently under development by J.G. Petrucci Company in Logan Township, New Jersey. Construction of the planned 1.9 million sq. ft. Port Logistics Center at Logan has already begun with the groundbreaking of the first and largest building scheduled for delivery in late 2021.
A CBRE team comprised of Mindy Lissner, Paul Touhey, and Sean Bleiler will spearhead the leasing campaign on behalf of J.G. Petrucci Company.
“The current pandemic has done little to curb the appetite for industrial space in New Jersey,” said Lissner. “Demand continues to push south in New Jersey as tenants in the market expand their searches due to limited availability of buildings offering over 800,000 sq. ft. The South Jersey market is poised for tremendous growth from the distribution sector and Port Logistics at Logan sits at the entranceway to this growth.”
Touhey continued, “We are excited to bring this unique development to the market that has been starving for such space as supply continues to be in the single digits. We have already seen tremendous interest from prospective tenants.”
Situated on approximately 190-acres of land, Port Logistics Center at Logan boasts immediate access to Interstate 295, the New Jersey Turnpike and is less than 30 miles from Philadelphia International Airport and the Port of Philadelphia. Once delivered, Port Logistics Center at Logan will offer one of the best industrial facilities in the market providing ample vehicle and truck parking.
"As design/build developers, we must be proactive in anticipating market demand. In addition to its sizeable footprint, what makes the Port Logistics Center at Logan unique is the tremendous access to Northern and Central New Jersey and the Suburban Philadelphia markets," explains Executive Vice President of J.G. Petrucci, Peter Polt. "The four-building campus sits between two major ports, allowing for potential distributors access to 40% of the nation's population within 24-48 hours. We are thrilled to have CBRE’s leasing and capital markets support during this process.”
CBRE announced today it has been appointed the exclusive leasing agent for Port Logistics Center at Logan, Building A, a 1,028,530 sq. ft. speculative project located in the four-building industrial campus currently under development by J.G. Petrucci Company in Logan Township, New Jersey. Construction of the planned 1.9 million sq. ft. Port Logistics Center at Logan has already begun with the groundbreaking of the first and largest building scheduled for delivery in late 2021.
A CBRE team comprised of Mindy Lissner, Paul Touhey, and Sean Bleiler will spearhead the leasing campaign on behalf of J.G. Petrucci Company.
“The current pandemic has done little to curb the appetite for industrial space in New Jersey,” said Lissner. “Demand continues to push south in New Jersey as tenants in the market expand their searches due to limited availability of buildings offering over 800,000 sq. ft. The South Jersey market is poised for tremendous growth from the distribution sector and Port Logistics at Logan sits at the entranceway to this growth.”
Touhey continued, “We are excited to bring this unique development to the market that has been starving for such space as supply continues to be in the single digits. We have already seen tremendous interest from prospective tenants.”
Situated on approximately 190-acres of land, Port Logistics Center at Logan boasts immediate access to Interstate 295, the New Jersey Turnpike and is less than 30 miles from Philadelphia International Airport and the Port of Philadelphia. Once delivered, Port Logistics Center at Logan will offer one of the best industrial facilities in the market providing ample vehicle and truck parking.
"As design/build developers, we must be proactive in anticipating market demand. In addition to its sizeable footprint, what makes the Port Logistics Center at Logan unique is the tremendous access to Northern and Central New Jersey and the Suburban Philadelphia markets," explains Executive Vice President of J.G. Petrucci, Peter Polt. "The four-building campus sits between two major ports, allowing for potential distributors access to 40% of the nation's population within 24-48 hours. We are thrilled to have CBRE’s leasing and capital markets support during this process.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
