New Jersey Logistics Properties Preleased to Lineage Logistics
Share:
Advance Realty Investors and Greek Development have landed $103.5 million in construction financing for two buildings in Logan North Industrial Park, a planned 3.2-million-square-foot industrial park in Gloucester County, N.J. Located at 858 Route 322 in Logan Township, the industrial park has direct access to the New Jersey Turnpike and Interstate 295. When completed, it will comprise 10 sites. Building H is the first building to be developed, followed by Building E.
Lineage Logistics has pre-leased Building E, a 189,889-square-foot build-to-suit cold storage facility, that will be operated by its subsidiary Preferred Freezer Services. Target has fully pre-leased Building H to use as a center to fulfill online orders and restock retail centers.
“With these two assets pre-leased, encompassing the first 1.3 million square feet of Logan North, our partnership is currently constructing Phase II of the development to meet continued demand in Southern New Jersey,” David Greek, director of acquisitions at Greek Development, added.
