A rendering of Building A at Port Logistics Center at Logan, the largest of four buildings in a planned 1.9 million-square-foot industrial project by J.G. Petrucci Co. Inc. — Courtesy: CBRE
By Joshua Burd
J.G. Petrucci Co. Inc. has named CBRE as its leasing agent for more than 1 million square feet of new industrial space in Logan Township, the first piece of a planned four-building campus.
The brokerage team said last week that construction is underway at the project along Route 322, about a mile north of Interstate 295, the site of what will be known as the Port Logistics Center at Logan. Delivery for Building A, a nearly 1.03 million-square-foot speculative project, is slated for late this year.
“The current pandemic has done little to curb the appetite for industrial space in New Jersey,” said CBRE’s Mindy Lissner, who is spearheading the leasing campaign alongside Paul Touhey and Sean Bleiler. “Demand continues to push south in New Jersey as tenants in the market expand their searches due to limited availability of buildings offering over 800,000 square feet.
“The South Jersey market is poised for tremendous growth from the distribution sector and Port Logistics at Logan sits at the entranceway to this growth.”
Building A is the largest of the four buildings at Port Logistics Center at Logan, with plans calling for 1.9 million square feet overall. The 190-acre site has immediate access to I-295 and the New Jersey Turnpike, while it’s less than 30 miles from Philadelphia International Airport and the Port of Philadelphia.
“We are excited to bring this unique development to the market that has been starving for such space as supply continues to be in the single digits,” Touhey said. “We have already seen tremendous interest from prospective tenants.”
The project team also noted that Port Logistics Center at Logan will have a large amount of vehicle and truck parking.
“As design/build developers, we must be proactive in anticipating market demand. In addition to its sizeable footprint, what makes the Port Logistics Center at Logan unique is the tremendous access to northern and central New Jersey and the suburban Philadelphia markets,” said Peter Polt, executive vice president of Asbury-based J.G. Petrucci. “The four-building campus sits between two major ports, allowing for potential distributors access to 40 percent of the nation’s population within 24 to 48 hours. We are thrilled to have CBRE’s leasing and capital markets support during this process.”