Trammell Crow Co. and a fund managed CBRE Investment Management joined project partners on Sept. 19 to break ground on a three-building, 1.078 million-square-foot industrial park at 50 South Minisink Ave. in Sayreville. — Courtesy: TCC
By Joshua Burd
Construction is underway on a project that will bring nearly 1.1 million square feet of high-end industrial space to a 74-acre former chemical plant site in Sayreville.
Its developers, Trammell Crow Co. and a fund managed CBRE Investment Management, broke ground recently at 50 South Minisink Ave. ahead of what’s slated to be a late 2023 delivery. When complete, the Arsenal Trade Center will span three buildings with above-standard car and trailer parking, 40-foot clear ceiling heights, full-site circulation and multiple points of ingress and egress, benefiting from a location near the New Jersey Turnpike and other highways.
“The central New Jersey industrial market continues to be an area that benefits from rising demand for Class A logistics space,” said Andrew Mele, managing director of TCC’s Northeast metro office. “Tenants recognize the central location that this market offers, providing access to more than 2 million people within a 30-minute drive and with it, some of the country’s most talented pools of labor.
“The size, scale and high-quality design of Arsenal Trade Center are unique attributes in this market that we believe will be attractive to today’s modern logistics user. We look forward to our continued partnership with CBRE IM and CBRE and to delivering Arsenal to the market next year.”
Previously owned by Hercules LLC, an affiliate of the chemical company Ashland LLC, the site is four miles east of the Turnpike. TCC and the CBRE Investment Management fund purchased the property in June and quickly detailed their plans to build some 1.078 million square feet of logistics space amid continued demand from tenants, despite looming uncertainty about the economy.
Arsenal Trade Center’s three buildings, all rear-loaded facilities, will span 284,341 square feet, 341,833 square feet and 451,602 square feet. The developers are working alongside a team that includes KSS Architects, general contractor RC Andersen and CBRE leasing agents Thomas F. Monahan, Larry Schiffenhaus, Stephen D’Amato and Ben Shapiro.
“We’re proud to celebrate this exciting milestone with our partners at Trammell Crow as this development is designed to meet the critical demand for high-quality, well-located logistics spaces in one of the nation’s busiest logistics corridors,” said Mary Lang, head of Americas direct logistics strategies for CBRE Investment Management. “Once completed, we believe that the Arsenal Trade Center will effectively meet the needs of key occupiers in the region and become a central hub for their modern logistics strategies.”
At the Sept. 19 groundbreaking event, TCC announced a $100,000 donation to nearby Middlesex College, which will be designated as scholarships for students majoring in architecture and engineering, construction, supply chain or logistics, according to a news release. The donation will also be used as a workforce grant for students seeking certificate training in construction, supply chain or logistics.
Developers set to begin three-building, 1.1 million sq. ft. logistics park in Sayreville