M id A tlantic Real Estate Journal — New Jersey — June 12 - 25, 2020 — 3B
www.marej.com
N ew J ersey
332,000 s/f of climate-controlled space delivery expected this summer Scout Capital to acquire cold storage logistics center in Southern NJ
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Signorello noted. “Scout Cold Logistics Center, in the heart of the Eastern Seaboard, will be a core asset within our national network of climate-controlled facilities.” With 97,000 s/f already pre- leased to a perishable logistics company, Scout Cold Logistics Center has another 235,000 s/f available. Located at 450 Swedesboro Ave. in East Green- wich Twp., the property will feature 80 loading docks and 36-foot clear height. Available space includes flexible floor plan options ranging from
65,000 s/f to 235,000 s/f that can accommodate one large, single-temperature storage use or multiple spaces designed for varied products and tempera- tures. “Our leasing strategy for Scout Cold Logistics Center - South Jersey will target local, regional and national perish- able operators seeking flexible, climate-controlled space who want to be within a three-hour drive of more than 40 million consumers,” said Chris Cum- mings of Colliers Interna- tional ." MAREJ
OUTHERN NJ — As demand for climate-con- trolled industrial space
rises in the U.S., a new development is underway in Southern New Jersey c ompr i s i ng 332,000 s / f of cold stor- age set for
Vincent Signorello
completion late summer. The facility, named Scout Cold Logistics Center - South Jer- sey, will serve tenants in the perishables industry including online retailers, supermarkets, and pharmaceutical companies. The facility is located just 18 miles outside central Philadel- phia and 100 miles from New York City, putting it within a two-hour reach of nearly 20 million people. Construction of the Scout Cold Logistics Center comes amidst pent-up demand for cold storage facilities across the U.S., with climate-controlled facilities emerging as critical components of the nation’s infrastructure. Notably, these facilities are equipped to store food supplies, medications, and other perishable goods. This trend has been accelerated by the COVID-19 pandemic and is expected to intensify due to the continued growth of online grocery shopping. Scout Capital Partners , a Florida-based real estate in- vestment and development firm that focuses on assets that com- prise or are connected to critical infrastructure, recently entered into a contract to purchase the property following completion. Scout is currently developing a national network of climate- controlled logistics centers in proximity to major metropoli- tan areas. Scout was founded by Vincent Signorello and its industrial investment and development platform is led by Dan Marcus , a partner at the firm and longtime associate of Signorello. Both Signorello and Marcus have decades of com- mercial real estate investment and industrial development experience. “America’s supply of cold storage facilities is wholly inad- equate to match the increasing demands of food distribution and online shopping, not to mention the need for storing highly-perishable pharmaceu- ticals and medical supplies,”
Scout Cold Logistics Center
EXCLUSIVE PROPERTIES FOR SALE
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