4C — November 19 - December 23, 2021 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
Once complete, the three buildings will feature 262,200 s/f, 552,585 s/f and 336,700 s/f Dermody Properties breaks ground on a 154-acre logistics park in New Jersey
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to recognize their efforts to commence the exciting and long-awaited development of the Rte. 322 corridor,” said Mayor Marino. “Without con - tinual growth and progress, such words as improvement, achievement and success have no meaning." Once complete, the three buildings will offer 262,200 s/f, 552,585 s/f and 336,700 s/f available for lease. The class A, state-of-the-art facilities will each feature a 36 to 40-foot clear height, build-to-suit office space, ESFR fire protection sys - tems, 50 to 110 dock high doors,
drive-in doors and ample trailer and car parking. LogistiCenter at Woolwich is located at the in - tersection of Rte. 322 and Locke Avenue inWoolwich Township. Dermody Properties will make significant improvements to the intersection in conjunction with the development of the park. LogistiCenter at Woolwich is located less than two miles from I-295 and less than three miles from I-95. Because of its proximity to Philadelphia and Wilmington, DE, this direct highway access will allow cus - tomers to reach 33% of the U.S. population in a single day’s drive and three million people within a 40-minute drive. Sur - rounding national companies include Amazon, Exxon, Tar - get, Lineage Logistics and XPO Logistics. “The region continues to at - tract top-tier companies looking for class A warehouse space that has become too rare to find or too expensive in Central and Northern New Jersey,” said Rob Borny , partner at Der- mody Properties. “We believe that Southern New Jersey will continue to flourish and we’re extremely grateful that our past success in the region has afforded us the opportunity to grow along with it.” MAREJ CBRE completes sale of 62 units in Northern NJ SADDLE BROOK, NJ — CBRE has completed sales of $10.62 million for three multifamily properties total - ing 62-units in Northern New Jersey. The firm arranged the sale of 5-22 Carpenter Terrace in Belleville, 1499 Oak Tree Rd. in Woodbridge, and 43 Cot - tage St. in South Orange. The South Orange and Woodbridge properties sold for $289,500/ unit, and $158,695/unit, respec - tively, and Belleville sold for almost $140,000/unit, all fur - ther highlighting the strength of the multifamily market in New Jersey. The CBRE Investment Prop - erties team of Jeremy Wer- nick, Charles Berger and Elli Klapper spearheaded the marketing of the properties and represented the sellers, all private investors, in each trans - action. The team also procured the buyers, who were interested in entering those local markets and expanding their New Jer - sey portfolios. MAREJ
OOLWICH TOWN- SHIP, NJ — Der- mody Properties
broke ground today on a three- building development in Wool - wich Twp. The project will be marketed as LogistiCenter at Woolwich. Woo lwi ch Townsh i p Mayor Vernon Marino and Deputy Mayor Natalie Mat- thias were in attendance, along with Dermody Properties’ East Region team. "I wish to congratulate and thank the Dermody Proper - ties officials for their belief in Woolwich Township, and
Shown from left: James Mascaro, Dermody Properties; Nicole Howard, Dermody Properties; Craig Frederick, Woolwich Township Commit- teeman; Vernon Marino, Woolwich Township Mayor; Gene Preston, Dermody Properties;Natalie Matthias, Woolwich Township Deputy Mayor; Dennis Callahan, Woolwich Township Committeeman
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