Brokers with Avison Young joined client Alcamo Capital and local officials to mark the opening of a new 261,646-square-foot industrial project at 40 Enterprise Ave. in Lawrence Township. — Courtesy: Avison Young
By Joshua Burd
An investment firm has completed its first new building in New Jersey with the opening of a nearly 262,000-square-foot industrial property in Lawrence Township.
The developer, Alcamo Capital, joined brokers with Avison Young recently to debut the warehouse and light manufacturing facility at 40 Enterprise Ave. The development has repurposed what was a blighted brownfield site, the team said, noting that it will look to tap into the steady demand for modern e-commerce and logistics facilities.
Avison Young has advised Alcamo Capital since the early stages of development and is marketing the property for lease, according to a news release.
“We’re thrilled to open this property, which allows Alcamo to maximize the site’s potential and provide the community with greater employment and revenue opportunities,” said Timothy Cadigan, a principal with Avison Young. “It’s great to work with a sophisticated client who recognizes the economic growth potential in our local market.”
Those on hand for the recent ribbon-cutting ceremony included Vin Basile, Lara Basile, Anthony Basile and Jonathan Fox of Alcamo. Also present were Lawrence Township Councilmember James Kownacki and Municipal Manager Kevin Nerwinski, as were Cadigan and fellow Avison Young Principal Matthew Turse and Matt Tracy, Brian Summers and Jerrell Kerzetski of RC Anderson, general contractor for the development.
Avison Young said the 261,646-square-foot project would provide a home for an employer that may have otherwise overlooked the area in search of high-quality space.
“We are delighted to welcome new tenants and celebrate the opening of this quality facility alongside our partners at Avison Young,” said Anthony Basile a principal with Alcamo Capital. “This team was the clear choice to oversee the leasing for Lawrence Logistics Center given the firm’s extensive market knowledge and experience in successful project lease-ups.”
