Page 10 - RE-NJ

8 SUMMER 2022
DEVELOPERS PLAN 1.1 MILLION SQ. FT.
LOGISTICS PARK IN SAYREVILLE
Andrew Mele, managing director
of TCC’s Northeast metro office. “We are pleased to partner with CBRE Investment Management
on this venture and combine our teams’ deep expertise in industrial development. Not only will this project bring in-demand warehouse space to the area, but it will
also bring with it many pre- and post-development employment opportunities.”
Ben Shapiro of CBRE represented the seller, Hercules LLC, an affiliate of Ashland LLC, in the sale of the property, while QuadReal provided construction financing for the project, according to a news release. The developers, meantime, have
tapped KSS Architects as its design team for the 1.08 million-square-foot complex off Cheesequake Road, while RC Andersen is its general contractor.
The joint venture added that each building will have above-standard car and trailer parking, 40-foot clear ceiling heights, full site circulation and multiple points of ingress and egress. Users at the site will be within miles of the Turnpike, Garden State Parkway and routes 9 and
18, with easy access to the region’s vast population, including 2 million people within a 30-minute drive.
“This development represented
a unique opportunity to meet a significant need for Class A logistics spaces in the central and northern New Jersey market,” said Mary Lang, head of Americas direct logistics strategies for CBRE Investment Management. “We believe that Trammell Crow is the ideal partner to help realize the vision for the Arsenal Trade Center as a critical hub in any modern logistics strategy and ensure that these assets are delivered in a high-quality, efficient manner that will both benefit our investors and capture continued user demand in one of the nation’s leading logistics corridors.”
A joint venture has closed on a 74-acre parcel in Sayreville, where it now plans to develop nearly
1.1 million square feet of modern industrial space across three buildings.
The partners, Trammell Crow Co. and a fund managed by CBRE Investment Management, expect to begin construction this summer at 50 South Minisink Road, bringing new life to a piece of a former chemical plant site four miles east of the New Jersey Turnpike. At full build-out,
the new Arsenal Trade Center will include rear-loaded logistics facilities of 284,341 square feet, 341,833 square feet and 451,602 square feet, as the developers look to tap into the still-strong demand from industrial users in and around central New Jersey.
Completion is slated for late 2023.
“Arsenal Trade Center represents a unique opportunity to deliver
a world-class logistics park in
one of the most sought-after markets in the United States,” said
Trammell Crow Co. and a fund managed by CBRE Investment Management will build a three-building, 1.08 million-square-foot industrial park known as Arsenal Trade Center, as depicted in this rendering, with plans to redevelop part of a former chemical plant at 50 South Minisink Road in Sayreville.
ENGINEERED
TO TRANSFORM
We are an innovative land-use consultancy providing creative solutions from environmental due diligence to planning and design, from engineering to construction administration. Our employees serve as your agents of change that through strategy and execution transform ideas into results across New Jersey, New York and Pennsylvania. Let’s talk about your project today and how we will make your vision a reality.
ENGINEERING ENVIRONMENTAL SURVEYING PLANNING LANDSCAPE ARCHITECTURE GEOSPATIAL ANALYSIS
Courtesy: TCC/CBRE