S hopping C enters S outhern NJ S potlight
M id A tlantic Real Estate Journal — Southern NJ — April 22 - May 19, 2022 — 5B
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JLL team of Demetsky, Torosian and Kemery represents ownership Advance Realty Investors & Greek Development sign two new leases at Logan North in Logan Twp.
OGAN TOWNSHIP, NJ — A joint venture of Advance Realty Investors and Greek De- velopmen t announced it has signed two new leases at Lo- gan North, the partnership’s 3.2 million s/f, state-of-the-art distribution park in Logan Township. SEKO Logistics, a global logistics freight and deliv- ery company, has signed a 164,000 s/f lease and will occupy Building A, located at 100 Crossroads Blvd. The second tenant, LaserShip Lo- gistics, will occupy Building F, located at 701 Crossroads Blvd. and comprising 327,000 s/f. Both leases were executed three months prior to the anticipated completion of the otherwise speculative projects. “Today’s leasing milestone serves as testament to the quality and magnetism of Lo- gan North and further under- scores the ongoing demand for well-situated, class A modern logistics space,” said Advance Realty Investors CEO Peter Cocoziello . “As a result, Lo- gan North has continued to attract top-tier tenants and L
Logan North
Building F Construction Progress
represents one of Southern New Jersey’s premier distri- bution locations, in one of the most active submarkets in the state.” In October last year, the partnership announced the $265 million sale of the Target Flow Center at Logan North. The 1.1 million s/f warehouse and distribution facility and 17 acre drop-lot currently oc- cupied by giant retailer Target Corporation, was acquired by Torchlight Investors. “Logan’s continued momen- tum speaks to the facility’s cutting-edge design as well as it’s attractive location in
the Southern New Jersey market,” said David Greek , managing partner of Greek Development. “We believe this will continue and look forward to Logan North serving as an economic driver in the re- gion, drawing more commerce, businesses and jobs to New Jersey.” The JLL team of Nate Demetsky, Dean Torosian and Matt Kemery continue to lead the leasing campaign at Logan North and repre- sent ownership in the lease negotiations. SEKO Logistics was repre- sented by the CBRE team of
the recently upgraded Port of Philadelphia (“PhilaPort”) and the Port of Wilmington. Steel has been ordered for the construction of the next phase of the park and consists of 401 Crossroads Boulevard (Building C/D), comprising 475,000 s/f; and 301 Cross- roads Boulevard (Building B), comprising 274,000 s/f Completion is slated for Q2 2023. The partnership also has 15 acres available at 200 Crossroads Boulevard with potential for a built-to-suit project or as additional park- ing space for future tenants of the park. MAREJ
KevinDudley, NickKlackik and Jeff Kapcheck. The JLL team of John Dingle & Dean Torosian represented LaserShip Logistics in the lease. Located in Logan Twp. in Southern New Jersey, the industrial park is along Route 322, just north of Interstate 295 and offers immediate ac- cess to both the Philadelphia and New York markets. The facility’s prime location is only 14 miles from the Philadelphia International Airport and proximal to the surrounding region’s busiest ports— situ- ated less than 20 miles from
Alliance HP announce two new lease transactions at 175 DeRousse Avenue in Pennsauken, New Jersey
PENNSAUKEN, NJ — Colliers , on behalf of client Alliance HP, is pleased to announce two lease trans- actions at 175 DeRousse Ave.in Pennsauken. These two deals bring Alliance’s 172,074 s/f building to full occupancy, completing the transformation of a dilapi- dated manufacturing facilty to a modern warehouse and distribution center. The transactions were facilitated by Ian Richman andMarc Is- daner of the Colliers Mount Laurel office. VoiceComm, a premier dis- tributor to the smartphone, tablet andmobile device indus- try throughout North America will occupy 110,796 s/f. Scrub Daddy, America's Favorite
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Sponge Company, will occupy the remaining 61,278 s/f. “We are thrilled to com- plete these two leases and
bring the building to full oc- cupancy before the construc- tion was even completed,” saidd Ian Richman, of the
leasing team. “We are not, however, surprised of the result given the strength of the market and current
imbalance of supply and demand and the bui ld- ing’s excellent location in Pennsauken.” MAREJ
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