28D — March 2023 — The Best of 2022 — M id A tlantic Real Estate Journal
www.marej.com
The LARGEST INDUSTRIAL LEASE of 2022
Cushman and Wakefield List Logistics Flanders, NJ
Lee & Associates New Jersey 800 Arlington Blvd. Swedesboro, NJ
CenterPoint Properties CenterPoint at Port Newark Newark, NJ
Size: 182,712 SF / 12.62 acres Brokers: NAI Hanson’s Kenneth D. Lundberg, SIOR, Scott K. Perkins, SIOR, CCIM, and Russell J. Verducci, Christopher Todd, Eric Demmers, Patrick Lennon, and Lorenzo Lambiase collaborated to pre-lease the development. Construction management services for a three-story, plus partial basement, addition to the existing Center for Engineering, Education, and Research (CEER) located on the university’s main campus. The new addition will surround the existing building on three sides and will be constructed as the existing facility remains fully occupied and operational. The project includes office suites for college leadership and seven offices for engineering staff, multimedia room for college/industry meetings, Engineering Hub that will serve as the administrative home for the university, engineering career zone that includes a dedicated resource center for individual career planning and recruitment activities, engineering innovation lab that allows students to work on scalable real-world engineering projects, a large atrium foyer/lobby for receptions and assemblies, a newly enhanced CEER concourse, and student learning com - mons spaces for seminars, lectures, and university events.
Brokers: Dave Saltzman
Brokers: Charles Fern, Jason Barton, Thomas Tucci, Stephen Shoemaker, Jonathan Winge, Torsten Thaler, Elizabeth Rouse and Natalie Gorga Cushman & Wakefield arranged an 844,373 SF lease for the third-party logistics and distribution company, List Logistics, at 703 Bartley Chester Road. Cushman & Wakefield has been exclusively leasing the 1,427,979 SF industrial complex since 2018. The property features 49-foot clear ceiling height, 500 parking spots for trailers, a solar panel rooftop energy system and an adjacent rail spur. The property is ideally located in close proximity to numerous transportation options. As List Logistics continues to grow and expand, 703 Bartley Chester Road offered the space, building design and fully equipped systems to successfully serve their customers.
Dave Saltzman, a Lee & Associates New Jersey partner, represented GXO Logistics (formerly New Breed Logistics) in its lease renewal for 325,563 square feet of Class A ware- house space with 800 Arlington Blvd.’s landlord, Invesco. The transaction marks the second renewal that he brokered on GXO’s behalf as a preferred vendor. He also negotiated the initial lease when the building was built by Liberty Property Trust in 2010. The building is located within the Commo- dore Barry Industrial Park, with direct access to I-295, and proximity to the NJ Turnpike Exit 2 and Philadelphia via the Commodore Barry Bridge.
The BEST INDUSTRIAL PROJECT of 2022
Wohlsen Construction Co. International Paper Atglen , PA
IMC Construction Crown 95 Logistics Center Philadelphia, PA
Levin Management Corporation 101 Circle Drive North Piscataway, NJ
Levin Management Corporation (LMC) launched development in mid-2022 for a 30,000 SF industrial building at Rutgers Industrial Center in Piscataway. LMC serves as asset manager for the six-building, 570,000 SF industrial/warehouse complex well-located in the I-287 industrial corridor. The spec project at 101 Circle Drive North, for which LMC served as construction manager, underscores surging real estate demand from e-commerce users and third-party logistics providers in one of the Garden State’s most sought-after locations. The Class A warehouse facility – with 35-foot minimum clear heights, six dock doors, 38 parking stalls and an ESFR sprinkler system – was fully leased prior to completion.
IMC has transformed a former manufacturing facility built in the 1920s into a modern 650,000 SF Class A distribution center in the heart of Philadelphia, PA. Crown 95 Logistics Center features up to 36’ clear ceiling heights, 3.5 acres of secured trailer/van parking, and prominent branding opportunities due to its location. It is strategically positioned to serve both the Philadelphia metropolitan area and the Eastern I-95 Corridor.
Type of project: 415,700 SF Renovations, 10,000 SFAddition Construction management services for the conversion of an existing warehouse building into a corrugated box plant. The project included modifications to the existing building, office fit-outs, process equipment foundations, and site infrastructure upgrades. The construction process included a helicopter lift to place over 60 new HVAC units on the roof before installation and hook-up.
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