Cushman & Wakefield announced Tuesday two new transactions in Gloucester County.
C&W’s industrial brokerage team in Pennsylvania inked a 80,750-square-foot lease with Ryder Logistics at 395 Pedricktown Road in Logan Township. The team also worked with UPS to renew 251,055 square feet of space at 200 Birch Creek Road in Swedesboro.
John Gartland, managing director of the southern New Jersey market at CW, represented ownership in both deals.
“The Gloucester County submarket has certainly emerged as a regional distribution hub, which has benefitted from both the overall growth of Philadelphia as well as the recent expansion of the PhilaPort. This submarket also has a tremendous labor pool to pull from, which continues to be a topic at the forefront of our business,” Gartland said.
The property in Logan Township is a 481,758-square-foot, Class A warehouse. It is within close access to the New Jersey Turnpike’s Exit 10 and Interstate 295’s Exit 2.
“Like many regional distribution markets, southern New Jersey continues to see growth in the third-party logistics vertical,” Gartland said. “This deal is yet another example of this ongoing trend. The UPS lease renewal is a strong indication of its commitment to this market. As markets to the North continue to tighten, we now are starting to see a lot of that pent-up demand funnel south down the Turnpike and Route 295 into southern New Jersey.”
The facility in Swedesboro is within close access to I-295’s Exit 10.
