A rendering of the Linden Logistics Center in Linden, a planned 4.1 million-square-foot industrial development by Advance Realty Investors and Greek Development
By Joshua Burd
A former Prologis executive has joined Advance Realty Investors to spearhead the firm’s pipeline of industrial projects.
Advance, which is based in Bedminster, announced Wednesday that it has hired Bill Bumber as its managing director of industrial development. The industry veteran brings nearly 15 years of experience in the region, having most recently served as Prologis’ senior vice president of capital deployment.
With Advance, he will now oversee the execution of all industrial development projects and the expansion of its portfolio, the firm said. Its current industrial holdings include the 4.1 million-square foot Linden Logistics Center — the largest planned industrial development in the Port of New York and New Jersey region, which broke ground earlier this year — along with a planned 3 million-square-foot industrial park in Logan Township.
Advance is partnering with Greek Development on both projects.
“Bill has long been regarded as being among the most savvy and successful commercial real estate executives in the Northeast, and we are very fortunate to bring him aboard to lead & grow the Advance Industrial platform,” said Peter Cocoziello, founder and CEO of Advance Realty Investors. “While our portfolio has consistently expanded across a variety of product types through the Northeast, we are placing a particular emphasis on our industrial portfolio in order to cater to the Northeast’s thriving e-commerce, warehousing and logistics market.”
During five years with Prologis, Bumber was responsible for industrial development and acquisitions for the company’s Northeast region. That included build-to-suit transactions with a combined value of more than $400 million, along with the sale of more than $32 million in nonstrategic land and the acquisition of more than $50 million in land for future developments.
Prior to his time with the real estate investment trust, Bumber spent more than eight years as vice president of development at Liberty Property Trust in both Pennsylvania and Maryland, developing more than 8.5 million square feet of industrial real estate across both states.
“Advance’s reputation as a leader in commercial real estate now spans more than four decades, and I am honored to be joining such a well-regarded, innovative firm, positioned for long term growth in the industrial market,” said Bumber. “Their well-known track record of success has easily translated to several industrial projects in recent years. I look forward to playing a key role in the execution of the existing pipeline as well as growing Advance’s industrial footprint.”
Bumber lives in New Jersey with his family and holds a bachelor’s in construction management from East Carolina University.