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Real Estate Journal — New Jersey — July 15 - 28, 2016 —5B
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M id A tlantic
Jones Long Lasalle serves as broker for 705,000 s/f Jet.com lease Matrix Development Group announces lease-up of two industrial buildings totaling 1.25m s/f
ALEM COUNTY, NJ — Matrix Development Group , one of the re- gion’s premier real estate investment and development companies, announced it has entered into two lease agree- ments totaling more than 1.25 million s/f of industrial space in New Jersey. In April, TFH Publications, a division of Central Garden & Pet, which is a leading in- novator and producer of lawn, garden, and pet supplies, finalized an agreement to lease 550,000 s/f at Matrix’s 965 Cranbury/South River Rd. in South Brunswick. The company will occupy the en- tirety of the state-of-the-art warehouse facility which is located less than a mile from the New Jersey Turnpike’s Exit 8A, and is recognized as one of the nation’s most active industrial markets. Earlier this month, e-com- merce giant Jet.com agreed to lease a 705,000 s/f distribution facility in Oldmans Township, Salem County. The Hoboken, NJ-based company will oc- cupy one of two speculative S LOGAN TOWNSHIP, NJ — On June 22, Dermody Properties , a national indus- trial acquisition, development and operating firm headquar- tered 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 locat- ed 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 con- sumer 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.
965 Cranbury/South River Rd.
Gateway Business Park
Newark, the largest on the eastern seaboard and third- largest in the U.S. The area is a major distribution hub for various Matrix clients, includ- ing Sony, Playmobil, Lenox and Volkswagen. Gateway Business Park, lo- cated just 45 minutes outside Philadelphia, is a 3.5 million s/f warehouse, manufacturing and distribution park that offers immediate access to the New Jersey Turnpike, Delaware, Philadelphia and Baltimore.
warehouse buildings in Ma- trix’s Gateway Business Park, strategically located adjacent to Exit 7 of I-295, providing seamless overnight access to the Northeast and Mid- Atlantic regions. “We welcome TFH and Jet. com to the Matrix family of tenants.” said Alec Taylor , principal of Matrix Develop- ment Group. “Each is a ter- rific company with whom to do business, and proof that high quality buildings beget first LogistiCenterSMat Logan is located halfway between New York City and Washington, DC, in the heart of the North- east Transportation Corridor. Its location provides access to I-295, the New Jersey Turn- pike, the Pennsylvania Turn- pike, I-476 and the Eastern Seaboard. The industrial park is within 15 miles of the Dela- ware 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 Inter- national 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
class tenants.” Located just a few minutes from the New Jersey Turn- pike, the 965 Cranbury/South River Rd. location in South Brunswick is comprised of a state-of-the-art warehouse featuring 36-foot clear heights, Early Suppression Fast Re- sponse sprinklers, generous dock doors, and plentiful car and trailer parking. The build- ing sits just 30 minutes from Newark Liberty International Airport and the seaport at Port Logan the premier industrial park in southern New Jersey,” said Joseph Versaggi , prin- cipal, 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 Jer- sey and specifically in Lo- gistiCenterSM at Logan for many years,” said Douglas Kiersey, Jr. , president, Der- mody Properties. “It is an excellent distribution market for companies that need to reach both national and inter- national 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 accom-
Gateway Business Park represents a successful pub- lic-private partnership with Salem County and Oldmans Township. The first light in- dustrial development in the county, it has created a model of smart growth and has con- sistently attracted new jobs, investments and ratables for the community. Paul Torosian, John Gart- land and Chad Hillyer of Jones Long Lasalle served as brokers on the Jet.com lease. n
Dermody Properties breaks ground on 393,120 s/f bldg. at Southern New Jersey industrial park in Logan Twp.
Groundbreaking at 2810 Oldmans Creek Rd.
modate 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, includ- ing Albert’s Organics, hhgregg, Kimberly Clark Corporation, Mission Produce, Performance Food Group, Penske, Sears and Veroni. n
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