A rendering of an industrial building at the planned Box Park Logistics Center in Cinnaminson — Courtesy: Logistics Property Co. LLC/Twitter
By Joshua Burd
A developer has closed on more than 70 acres in Burlington County, paving the way for as much as 1.5 million square feet of new industrial space along Route 130.
The Chicago-based firm, Logistics Property Co. LLC, detailed plans last week for what it calls the Box Park Logistics Center after acquiring the site on Taylors Lane in Cinnaminson. In doing so, it will look to tap into the still-growing submarket off Exit 5 of the New Jersey Turnpike.
The 72.35-acre property is just north of Route 130.
“This is a trophy project in one of the strongest markets in the country,” said Mark Glagola, senior vice president and Northeast market leader for Logistics Property Co. “I couldn’t be prouder of our team’s coordinated effort getting this stellar deal across the line.”
In a news release, the firm said the planned logistics campus will house between 1.2 million and 1.5 million square feet, with up to six acres of parking. The developer touted its access to interstates 95 and 295, the Turnpike and major population centers throughout the Northeast that are reachable in a day or less.
LPC has tapped Cushman & Wakefield as its leasing agent at the site.
“We’re thrilled to be working with the LPC team to market this exciting development,” said John Gartland, a managing director at C&W. “With flexibility of design, an abundance of both trailer and car parking, and the ability to build up to 1.5 million square feet, Box Park Logistics Center promises to be a premier logistics location.”
FCL Builders, the project’s general contractor, is slated to begin site clearing and grading in roughly three weeks.