S hopping C enters C entral NJ S potlight

M id A tlantic Real Estate Journal — Central NJ — August 20 - September 16, 2021 — 7B


The Carlyle Group & 200 Acquisitions, completed acquisition of the 140-acre parcel of land inMay Millstone 8 Logistics Center announces development of 1.2 million s/f industrial complex


facilities featuring best-in-class site amenity ratios, full circula- tion, and the ability for tenants to have independent security. The larger of the two buildings will feature a 40’ clear height, 274 dedicated trailer parking stalls and 172 loading doors. The 220,000 s/f building will have a 36’ clear height, 37 dedi- cated trailer parking stalls, and 50 loading doors in a cross-dock configuration. Construction is anticipated to be completed in early 2Q 2022. “New Jersey remains one of the strongest industrial markets in the country, and developable land in proximity to the Turnpike has become increasingly hard to find,” said Efrem Gerszberg , CEO of 2020 Acquisitions. “With the e-commerce evolution, there is growing demand for distribu- tion facilities with entitlements in hand, and we look forward to realizing our vision for the property in the near future.” “Carlyle has been actively

investing in the logistics space for years where we continue to see strong industry tailwinds,” said Michael Gershenson , managing director, The Car- lyle Group. “We look forward to partnering with Crow Hold- ings and 2020 Acquisitions in developing this world-class fa- cility where we see significant value creation potential.” The development partner- ship acquired the property in April 2021, after obtaining the purchase rights from Seth Gerszberg of Active Acqui- sitions , the initial developer on the project. For Crow Holdings Indus- trial announcement comes roughly a year after the $164-million sale of 50 Ve- ronica Ave., a newly built 925,000 s/f property in Frank- lin Township. Over the past three years, Crow Holdings has amassed a development pipeline of eight million s/f of industrial projects in New Jer- sey and Pennsylvania. MAREJ tire lifecycle — we acquired the raw land, worked side by side with the municipality to entitle the site, and executed on our vision to build a class A facility that was well received by the market.” “Bentley Labs’ long-term commitment prior to con- struction completion validates the asset’s market-leading specifications and location,” said Steve Feinberg , Ever- West's director of northeast acquisitions. “As we continue to strategically grow our port- folio, we extremely value our relationship with Woodmont and look forward to growing our partnership in the future.” Earlier this year, Woodmont and EverWest acquired 461 Ridge Rd., a 144,551 s/f indus- trial property located in South Brunswick, marking its first joint venture project. EverWest also acquired 77 Moonachie Ave. in Moonachie from Wood- mont in late 2017. MAREJ

ILLSTONE , NJ — The Millstone 8 Logistics Center de-

velopment partnership, led by Crow Holdings Industrial , announced that it has begun construction on two state-of- the-art logistics buildings, comprising of 1 million s/f and 220,000 s/f respectively, at 505 Rte. 33 in Millstone. Crow Holdings Industrial with its partners The Carlyle Group and 2020 Acquisitions com- pleted the acquisition of the development’s 140-acre parcel of land in May. The Millstone 8 Logistics Center will be located on Rte. 33, and benefits from the mod- ernized Exit 8 interchange on the New Jersey Tpke., which is unencumbered by traffic and provides efficient access to both Metropolitan New York/ Tri-State region and greater Philadelphia/Southern New Jersey. “Millstone 8 Logistics Center will meet a rapidly accelerating WOODBRIDGE, NJ — Woodmont Industrial Part- ners , a leading developer and owner of industrial properties throughout the U.S. eastern corridor, announced the sale of 85 New Brunswick Ave., a 101,425 s/f class A distribu- tion center in the Hopelawn section of Woodbridge. The property was preleased by Bentley Labs, a cutting-edge formulation and manufactur- ing partner to the world's top beauty brands. Woodmont Industrial com- pleted vertical construction of the world-class facility during the second quarter of 2021, filling Bentley’s need for high- quality distribution centers near the port of Newark/Eliza- beth. The property is located within 15 miles of the Port, a quarter-mile of Rte. 440, Rte. 9, New Jersey Tpke. and the Garden State Pkwy., and fea- tures 36-foot clear heights and 12 dock doors with the option

Two-Building Logistics Property Anchored by 1 million s/f, State-of- the-Art Building

demand for modern logistics facilities in the Northeast, pro- viding one of just a few options for tenants seeking occupancy of a million s/f building. The improvements made to the Exit 8 interchange associated with the widening of the New Jersey Tpke. have made access to the property extremely efficient for

industrial operations. Overall, this property will be a very attractive location for tenants seeking cutting-edge industrial space across the region,” said ClarkMachemer , senior man- aging director at CrowHoldings Industrial. The two industrial buildings will be class A modern logistics

Woodmont Properties completes sale of 101,425 s/f industrial facility in Woodbridge Twp., New Jersey

85 New Brunswick Ave.

to expand to 24. “We’re incredibly proud of our ability to bring our plans for this property to fruition

and meet the tremendous demand for well-located distri- bution space,” said Anthony Amadeo , vice president at

Woodmont Industrial Part- ners. “This deal is indicative of Woodmont’s ability to see our deals through their en-

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