F. Greek Development and partner Advance Realty jointly announced Friday they have named Cushman & Wakefield the exclusive leasing agent for a newly-rebranded industrial park in Logan Township.
Matthew Marshall, managing director at Cushman & Wakefield; Jeffrey Williams, managing director; and Chuck Fern, vice chairman based at the commercial real estate firm’s Conshohocken and Iselin offices, are managing the assignment to market the Logan North Industrial Park.
The industrial park is a 3.32 million-square-foot warehouse and distribution asset located at 2858 U.S. Route 322.
Cushman & Wakefield brokered the undisclosed sale of the 415-acre property to its current owners in 2016, the partners said.
“Unprecedented demand for distribution and logistics space is driving strong absorption and rent growth, and these bulk warehouse sites are now among the highest performing asset class in terms of value appreciation,” Marshall said. “There are less than a dozen sites across the state that could accommodate these large format buildings, making Logan North a highly considered choice for firms looking to locate or relocate their distribution in Southern New Jersey’s rapidly growing industrial market.”
The campus, developed in partnership with Advance Realty, consists of 11 buildings ranging from 90,000 square feet to 1.1 million square feet. It is located within close access to Interstate 295 and the New Jersey Turnpike.
“E-commerce trends make the industrial real estate market a compelling long-term opportunity. Philadelphia is quickly evolving as a distribution destination and there is a growing need for modern Class A space in a range of sizes. We believe this location is the best in the market and have created a state-of-the-art industrial park to meet current and future demand for distribution and logistics space,” David Greek, who is responsible for new development and acquisition opportunities for F. Greek Development, said.
