A rendering of 39-41 Strykers Road in Phillipsburg, a planned 511,200-squre-foot development by J.G. Petrucci Co. Inc. and PGIM Real Estate — Courtesy: J.G. Petrucci
By Joshua Burd
More than 500,000 square feet of new industrial space is coming to Phillipsburg, under a newly announced project by J.G. Petrucci Co. Inc. and PGIM Real Estate.
The joint venture on Thursday detailed plans to develop the Phillipsburg Logistics Center at 78, a 511,200-square-foot building less than three miles from Route 22 and Interstate 78. Sitting on roughly 66 acres, the property at 39-41 Strykers Road is slated to be available for lease next summer.
“We are excited to embark on Phillipsburg Logistics Center at 78 with our partners,” said Peter Polt, executive vice president with J.G. Petrucci. “This is a great infill development opportunity that will continue the Phillipsburg industrial market’s great story. The site provides excellent connectivity between the northern and central New Jersey industrial markets to the Lehigh Valley market along the I-78 corridor.
“Our team sees this joint venture as a perfect opportunity to develop a facility that will be ideal for businesses looking for ample square footage and easy access to several major highways.”
The JLL capital markets team of Jon Mikula and John Plower, both senior managing directors, represented J.G. Petrucci in arranging the partnership. Jeff Lockard, an executive vice president in the firm’s Berwyn, Pennsylvania office, will serve as the project’s leasing agent.
The law firm of Murphy Schiller & Wilkes LLP advised J.G. Petrucci in connection with the joint venture agreement.
Plans for the speculative industrial facility call for 36-foot clear ceiling heights, LED lighting, wide column spacing, two drive-in doors and ample trailer parking stalls and loading positions.
