7-28-17

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228-acre land parcel in Piscataway, New Jersey Rockefeller Group announces plans to develop 2.2 million s/f Logistics Center

ISSUE HIGHLIGHTS Volume 29, Issue 14 July 28 - Aug. 10, 2017

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The Cushman & Wakefield team of Jules Nissim, Stan Danzig and Marc Petrella will manage the assignment. “We’re thrilled to move forward with the Rockefeller Group Logistics Center on one of the largest remaining developable sites in New Jer- sey at a time when demand for well-located and well- designed industrial product in the state is so strong,” said Clark Machemer , senior vice president and regional development officer for Rock- efeller Group’s New Jersey/ Pennsylvania operations. “When complete, the complex will offer prospective users a level of flexibility that’s unparalleled in New Jersey.” Rockefeller Group acquired

the site from the partnership of Lincoln Equities Group and Real Capital Solu- tions , in a transaction bro- kered by the aforementioned Cushman &Wakefield team, along with DavidBernhaut, Andy Merin, Gary Gabriel and Kyle Schmidt of Cush- man & Wakefield’s Capital Markets Investment team. “This property closes at an important time for the state’s I-287 corridor, which is now seeing significant interest from industrial developers due to its proximity to New- ark’s airport, port and rail stations,” said Joel Berg- stein , president, Lincoln Eq- uities Group. “We purchased the site at 171 River Road three years ago when most

developers were focusing on the I-95 corridor, and we’re fortunate to anticipate where the state’s next wave of de- velopment would take place.” Rockefeller Group’s plans for the development are pro- pelled by the vigorous de- mand for modern, top-quality warehouse space in New Jer- sey, specifically within the I-287 industrial corridor. The Rockefeller Group Logistics Center will feature properties ranging in size from 200,000 to more than 800,000 s/f, accommodating users with a wide variety of size and infrastructure requirements. Flexible transaction options will allow for future users to lease or own industrial space. n

ISCATAWAY, NJ — Rockefeller Group has acquired a 228-

SPO TLIGHTS

a c r e l a n d p a r c e l i n Piscataway, whe r e the global real estate own- er, developer and investor will develop

Brokerage Directory

Section C

Clark Machemer

Bethel Township, PA — Dermody Proper- ties , a national real estate investment, development and management company spe- cializing in acquisitions and development of industrial real estate across the U.S., recently broke ground on Lo- gistiCenter SM at Midway. At completion, the building will offer 1,081,200 s/f of space ideally suited for warehouse, distribution or e-commerce business. Dermody Prop- erties expects to complete construction in the spring of 2018. “Dermody Properties has been investing in the Central Pennsylvania market for over 20 years,” said Douglas Kiersey , the 2.2 million s/f, state-of- the-art Rockefeller Group Logistics Center. Rockefeller Group has se- lected Cushman & Wake- field as the marketing agent for the Logistics Center, which will comprise six build- ings, representing a com- bination of speculative and build-to-suit opportunities.

Architecture & Engineering

7-21B

Dermody Properties breaks ground on 1,081,200 s/f building known as LogistiCenter at Midway

Upcoming Conferences July 27, 2017 CPA Industrial RE &

tion. Nearby multi-national companies include Sam- sung, Dollar General, and PetSmart. The build-

Development Summit September 13, 2017 4 th Annual New Jersey Apartment/Multifamily Conference

i ng ar ch i - tect is Ware Ma l c omb and the gen- eral contrac- tor is Blue Rock Con-

Douglas Kiersey

struction. Upon completion, Logisti- Center at Midway will offer 36 ft. of clear height, 60-ft. loading bays, 207 car parking stalls (expandable to 309), 368 trailer stalls (expandable to 438), 212 dock doors, four drive-in doors and a generous truck court at 185 ft. deep. n

LogistiCenter at Midway

president, Dermody Properties. “Our customers are attracted to the market by access to a high percentage of the United States and Canada populations, as well as the presence of a high- quality labor pool.” LogistiCenter at Midway

is located at 270 Midway Rd. on a 136-acre site with direct access to I-78. This transpor- tation-advantaged location puts it within a one-day truck drive of 36 percent of the US population and 60 percent of the Canadian popula-

For speaking and sponsorship

information, please contact: Linda at 781-740-2900 or lchristman@marejournal.com

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