Plans for Apex Logistics at Hamilton call for 170,800 square feet of modern industrial space at the junction of Interstate 195 and Route 130. — Rendering courtesy: Altman Logistics Properties
By Joshua Burd
Development firm Altman has lined up its second New Jersey project in less than a month, acquiring a parcel in Hamilton that’s slated for nearly 171,000 square feet of new logistics space.
The company announced Monday that its affiliate, Altman Logistics Properties, was partnering with DWS to develop the facility at the junction of Interstate 195 and Route 130. The firms paid an undisclosed sum for the 15.7-acre site, with plans to start construction on the Apex Logistics at Hamilton facility in early 2025 and deliver it roughly one year later.
Cushman & Wakefield’s Gary Gabriel and Kyle Schmidt represented the seller in the transaction. KBC Advisors’ Marc Petrella, Andrew Siemsen and Michael Kimmel will lead the leasing team for the 170,800-square-foot warehouse, which will place tenants roughly 40 miles from Philadelphia and 60 miles from New York City.
“This marks our second land acquisition over the past month in New Jersey, a growing real estate market that is an important piece of our platform’s expansion strategy,” said Mark Levy, president of Altman Logistics Properties. “We look forward to advancing our plans to build these planned logistics developments to serve the region’s tenant demand for Class A industrial space.”
Altman late last month announced the acquisition of a 10.5-acre tract in Parsippany where it will develop a 140,000-square-foot industrial facility. The project, a joint venture with the family office Renard Investments and DHS Real Estate Investment Management B.V., will transform the site of a defunct office building at 30 and 20 Lanidex Plaza West at the nexus of interstates 80 and 287.
The firm is also planning several projects in Florida. In New Jersey, it’s betting on a market that has nearly 8 million consumers within a one-hour drive and can draw from strong, dense labor pools.
Altman-led group buys defunct office site in Parsippany, plans 140,000 sq. ft. warehouse
