Real Estate Journal — Economic Development — January 30 - February 12, 2015 — 5A


M id A tlantic

E conomic D evelopment By Scott Mertz, SIOR, NAI Mertz An Industrial Renaissance in Florence, New Jersey


NAI Mertz is acting as the exclusive leasing agent for the property, which can ac- commodate a single big box user or can be divided for multiple tenancy. While recent statewide economic development initia- tives in New Jersey tend to fa- vor repressed areas, Florence has introduced measures that have allowed the township to compete in an incentive-driv- en marketplace. With oppor- tunities for both a five-year tax abatement and a 30-year PILOT (Payment in Lieu of Taxes) program, Florence has

remained successful in luring new business during the wave of activity spurred by the Eco- nomic Opportunity Act. Sitting at the crossroads of the NJ & PA Turnpikes, Flor- ence has always been geo- graphically desirable to both corporations and employees. The pro-business climate of both the township and Bur- lington County has Florence well positioned to continue to thrive as a manufacturing and distribution hub. Scott Mertz, SIOR, prin- cipal, NAI Mertz. n

bout 45 minutes north of Center City Phila- delphia and an hour

and a half south of New York City, F l o r e n c e Townsh i p , New Jersey, has become a hub f o r i ndus t r i a l and ware -

Scott Mertz

house facilities because of its central location within the northeast corridor. Of- fering easy access to the NJ Turnpike, PA Turnpike, I -295, and many of Southern New Jersey’s major routes and roadways, Florence is the ideal location for manu- facturing and distribution centers. The area's indus- trial parks including Haines Industrial Park, NFI Park at Florence Crossings and Logistics Pointe (formerly Cedar Lane Industrial Park) are home to a number of large employers. Familiar names such as BJ's Wholesale Club, Sports Authority and Christ- mas Tree Shops have made Florence the home base for their northeast distribution operations. Over the past two years, the area has experienced a surge in corporate reloca- tion and expansion activ- ity. Subaru of America and Destination Maternity both opted to build new state-of- the-art distribution centers, and Burlington Coat Factory reinforced its commitment to the county that provides its name by breaking ground on both a new corporate head- quarters and distribution center. The area now boasts a daytime population of 17,000 people. Unlike other popular locations for distribution centers, Florence still has a considerable amount of land available for development. Florence’s connectivity will be further enhanced by an infrastructure project under- way in Pennsylvania that will provide direct access to I-95 from the PA Turnpike. The initial phase of the project is expected to be completed by 2018. The high demand for state- of-the-art distribution fa- cilities in Florence has led to proposed construction at Covington Group’s Logistics Pointe. Plans are underway for a new 577,200 s/f, cross-

Logistics Pointe: Southern New Jersey

house will feature 32’+ clear ceiling heights with 58 tail- gate docks with punch-outs for an additional 50 docks.

docked facility at this indus- trial park with immediate access to Exit 6 of the New Jersey Turnpike. The ware-

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