Prologis Inc. is developing a new 142,479-square-foot industrial building at 357 Wilson Ave. in Newark, where plans call for 40-foot clear ceiling heights, 23 dock doors, two drive-in doors and parking for 16 trailers and 90 cars, among other features. — Rendering courtesy: Prologis
By Joshua Burd
Prologis Inc. is bringing more than 140,000 square feet of new industrial space to a site near Port Newark-Elizabeth, in one of several projects in its New Jersey development pipeline.
According to the company, which had around 2.8 million square feet under construction in the state entering 2023, the facility at 357 Wilson Ave. is slated to become available in spring 2024. Its plans for the 142,479-square-foot building call for 40-foot clear ceiling heights, 23 dock doors, two drive-in doors and parking for 16 trailers and 90 cars, among other features.
The structure will occupy a 7.3-acre site between Route 1&9 and the New Jersey Turnpike, placing users some four miles from the port. It’s also minutes from Interstate 78.
Prologis, which is building across the state, said it remains bullish on the industrial market after a year in which it completed 6.6 million square feet of leasing activity and nine acquisitions.
“Businesses want to be located near the end consumer to meet people’s expectation for fast delivery,” said Jesse Harty, a senior vice president with Prologis and its market officer in New Jersey and New York. “This demand — combined with land scarcity, regulatory barriers and historic low vacancies — has created an environment where new construction is limited and competition for existing Class A space is white hot.”
