From left: Ronel Borner, a senior vice president of development with CenterPoint Properties, Linden Mayor Derek Armstead and Marie Costa, president of CODA Logistics & Distribution, were among those hand for a recent ribbon-cutting ceremony at CenterPoint’s new 321,765-square-foot industrial project at 1501 West Edgar Road in Linden. — Courtesy: CenterPoint
By Joshua Burd
CenterPoint Properties has taken the wraps off more than 320,000 square feet of new logistics space in Linden after having preleased the facility to a third-party logistics firm.
The developer joined city officials recently to welcome the tenant, CODA Logistics and Distribution, while marking the completion of the project at 1501 West Edgar Road. The occupier has relocated from the Port Reading section of Woodbridge, CenterPoint said, noting that the new building provides it with more space and upgraded features.
Meantime, the project has transformed nearly 20.5 acres that once housed an aging retail power center, which had fallen into disrepair after its anchor tenant vacated.
“Many of you may know this is the former site of a functionally obsolete retail center,” said Ronel Borner, CenterPoint’s senior vice president of development in its east region. “Today, it is the home to a best-in-class, Class A industrial distribution center that will deliver significant tax and job benefits to the city of Linden for decades to come.
“It’s a great outcome for Linden and CODA, and we’re obviously excited to have been a part of this exciting project.”
CenterPoint broke ground on the speculative, 321,765-square-foot distribution facility just over a year ago. CODA preleased the facility last March, in a deal in which Cushman & Wakefield’s Stephen Elman, Jules Nissim and Stan Danzig represented ownership and Michael Kimmel of KBC Advisors represented the tenant.
Borner credited his team and partners for the high-throughput facility and site design that gives CODA operational advantages, such as 64 doors with two drive-up ramps, a 40-foot clear ceiling height and parking for 89 trailers and 250 cars, according to a news release. CenterPoint also obtained silver certification on the U.S. Green Building Council’s Leadership in Energy and Environmental Design scale, having incorporated features such as electric vehicle charging capability and rooftop solar panels.
Marie Costa, president of CODA, credited her team for weathering the tumultuous ebbs and flows the logistics industry has experienced since she founded the company in 2020, the news release said. She also believes the new facility will play a key role in her plans to triple the size of the company in the next five years.
“The supply chain involves so many moving parts and so many entities to move cargo from point A to point B,” Costa said. “We deal with so many variables, yet I continue to be amazed at the determination of our team to overcome all and any obstacles that come their way.”
Those on hand at the Jan. 10 event also included Linden Mayor Derek Armstead, who showed how the new development will nearly double his city’s projected tax revenues over the next 30 years — from $11.8 to $22 million — compared to the previous retail center on the site.
“We’re very serious about making sure our municipal taxes are spent wisely,” Armstead said. “We’re very concerned about the developments that come into town. We put a lot of work, energy, and time into making sure these types of projects come into existence.”
“We’re talking about responsible development, things that are going to bring revenues into the town and keep our homeowners from being taxed.”