Dermody Properties has acquired a vacant 615,000-square-foot industrial complex in East Windsor, where it’s now planning a series of upgrades over the next several months.
NAIOP New Jersey will honor two of the industry’s top players in capital markets and commercial mortgage banking as part of its annual awards gala this spring, where it will also recognize a pair of influential developers and one of the state’s longest-serving mayors.
Dermody Properties’ 1,100-acre logistics park in Logan Township has attracted a long list of well-known users over more than decade. And the firm is now set to enter its last phase of development — breaking ground on two buildings that will add another 563,000 square feet to the portfolio.
As you’ll find out in this month’s cover story, developers and brokers that have long focused on New Jersey are now stretching beyond the traditional boundaries of the state’s industrial market. And they are stretching them in every direction — for different reasons — in their quest to keep pace with tenants that are adopting a more regional approach.
In New Jersey’s booming industrial market — where rent growth is unprecedented and speculative development is rewarded — owners and investors still face a major challenge when it comes to deploying capital and keeping their pipelines filled.
A logistics firm is set to occupy 401,000 square feet at a sprawling industrial park in Logan Township, under a recent lease with developer Dermody Properties.