301 Crossroads Blvd. in Logan — Courtesy: Greek Real Estate Partners/Advance Realty Investors
By Joshua Burd
Greek Real Estate Partners and Advance Realty Investors have leased another 117,000 square feet at their new seven-building, 3.2 million-square-foot industrial park in Logan Township.
The developers say the tenant, Aramsco Inc., will occupy part of a 274,524-square-foot building at 301 Crossroads Blvd. that will provide it with a 40-foot clear ceiling height and other modern features. The deal will also provide the company, a distributor to specialty trade contractors, with direct access to Route 322 to the east and Interstate 295 to the south.
JLL’s Dean Torosian, Nate Demetsky, Matt Kemery and Paul Torosian represented ownership as the leasing team for what’s known as Logan North. Ryan Bowie of ICON Commercial and Colin Flynn, David Ricci and Brando Casalicchio of Flynn Cos. represented Aramsco.
“We’re grateful for the continued dedication of our respective teams and all those who have worked on Logan North to make this project and lease transaction a success,” Alex Cocoziello of Advance Realty Investors said. “This transaction reaffirms long-term demand for superior, Class A logistics facilities despite a turbulent market and speaks volumes to Logan North’s excellent location and quality design.”
In a news release, the developers noted that 301 Crossroads Blvd. has 42 dock doors, two drive-in doors, 188 parking spaces, 58 trailer parking spaces and built-to-suit office space. The park is just 13 miles from the Philadelphia International Airport and provides access to the Port of Philadelphia, the Port of Wilmington and the Port of New York and New Jersey.
“This lease leaves roughly 160,000 feet of highly functional Class A space available at 301 Crossroads, which the development team is confident will be in high demand,” said Alex Motiuk, director of acquisitions at GREP.
GREP and Advance acquired the 415-acre property as raw land in 2016 and recently completed a three-phase development to deliver seven modern warehouse buildings. Buildings H, E, A and F, which range from 164,000 to 1.1 million square feet, are fully leased to tenants including Target, Lasership, SEKO and Lineage Logistics, while 501 Crossroads Blvd. is available for occupancy and energized.
The 475,488-square-foot cross-dock building has 40-foot clear ceiling heights, 106 dock positions, 71 trailer spaces and 228 car spaces.
