10A — October 16 - 29, 2020 — M id A tlantic Real Estate Journal


M id A tlantic R eal E state J ournal

H I LL I PSBURG , NJ — J.G. Petrucci Company, Inc. , one JLL arranges financing for the 511,200 s/f industrial building project J.G. Petrucci Co. announce joint venture to bring new industrial project to Phillipsburg, NJ P

o f the re - gion’s lead- ing develop- me n t and design/build c o n s t r u c - tion firms, announced its new joint venture with

Peter Polt

PGIM Real Estate . The partners have plans to de- velop the Phillipsburg Logis- tics Center at 78, a 511,200 s/f industrial building, which will be available for lease in

Phillipsburg Logistics Center at 78

summer 2021. Located in Phillipsburg, the 66-acre site is less than 3 miles from Rte. 22, I-78, and provides excellent access to the Northeast’s’ major met- ropolitan areas. In addition to its premier connectivity and distribution access, the site’s location offers future employers a robust local workforce. The JLL Capital Markets team represented J.G. Pe- trucci Company to arrange the partnership and will serve as the leasing agent for the property. The team was led by senior manag- ing directors Jon Mikula and John Plower, while executive vice president, Jeff Lockard will lead the lease-up process on behalf of the partnership. “We are excited to embark on Phillipsburg Logistics Center at 78 with our part- ners,” said Peter Polt , ex- ecutive vice president at J.G. Petrucci. “This is a great infill devel - opment opportunity that will continue the Phillipsburg Industrial Market’s great story. The site provides ex- cellent connectivity between the Northern and Central New Jersey Industrial Mar- kets to the Lehigh Valley Market along the I-78 Corri- dor. Our team sees this joint venture as a perfect opportu- nity to develop a facility that will be ideal for businesses looking for ample square footage and easy access to several major highways,” he added. The 511,200 s/f speculative industrial facility will feature 36-foot clear heights, LED Lighting, wide column spac- ing, two drive-in doors, and ample trailer parking stalls and loading positions. MAREJ

Since 1995, Procida Funding has provided over $3 Billion in capital. Procida Funding provides capital for a wide range of asset classes in the Eastern region of the United States, with a concentration in the New York Metropolitan area.

120 $806+ $440+

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