Marcus Partners’ plans at 35 South Jefferson Road in Whippany call for a new 72,000-square-foot logistics facility with 36-foot clear ceiling heights and a layout that will cater to single- or multitenant use. — Rendering courtesy: Marcus Partners
By Joshua Burd
Marcus Partners has acquired the site of a vacant office building in Hanover, where it’s now slated to develop a new 72,000-square-foot logistics facility.
Site work is underway at the 6.6-acre property, at 35 South Jefferson Road in the township’s Whippany section, with plans calling for the demolition of the existing 40,000-square-foot building. The warehouse and distribution facility that will replace it is slated to arrive in the third quarter of 2026, offering 36-foot clear ceiling heights and a layout that will cater to single- or multitenant use and the continued high demand for spaces under 100,000 square feet.
“Our expertise in finding these underutilized and outdated properties with exceptional regional access has continued to deliver successful projects and returns for our investors,” said Todd Minerley, senior vice president for investments with Boston-based Marcus Partners. “Whether it is Class A logistics space or new multifamily properties, unlocking the value in these metrocentric sites is proving our strategy continues to be sound and dynamic in multiple markets.”
The Newmark team led by Chris Koeck brokered the sale, while Michael Klein and Mike Lachs of JLL represented Marcus Partners in sourcing financing with Truist Bank. The project’s leasing team includes Koeck, Michael Schipper, Rob Loderstedtm, Haylee McCabe and Kyle Eaton, also of Newmark.
According to its marketing materials, the facility will also have at least 10 dock doors and parking for 90 cars and up to eight trailers. Tenants, meantime, will have easy access to major highways including Route 10 and interstates 287 and 80.
