A joint venture between Advance Realty Investors, Greek Development and PGIM Real Estate announced it has broken ground on the Linden Logistics Center, a 4.1 million-square-foot logistics park in Linden.
The redevelopment is located on a formerly vacant 350-acre tract of land that the partnership acquired in 2018.
“The construction of Linden Logistics Center marks a major economic investment in Linden and the development of a parcel of land that has been vacant for more than 25 years,” Linden Mayor Derek Armstead said. “This innovative project will create massive new tax revenues, attract new businesses, and most importantly put hundreds of area residents to work. We are grateful that the leaders at Advance Realty, Greek Development and PGIM Real Estate execute our vision through their investment in the City of Linden.”
The logistics center, which is expected to be complete in late 2020, will be comprised of eight Class A warehouse buildings.
The venture said it has retained CBRE to serve as the exclusive leasing agent for the property.
“We are extremely excited to lead the leasing efforts for one of the largest industrial and innovative developments in this region,” Mindy Lissner, executive vice president, CBRE, said. “Thanks to its unprecedented combination of access to a skilled workforce, vast network of highways, rail lines, air freight capabilities and one of the most active deep-sea ports in the country, this facility is a perfect home for companies searching for efficient access to New York, Philadelphia and various other major metropolitan markets. We look forward to engaging with the growing number of food, consumer product, e-commerce and other industrial users searching for a first-class space in this thriving commercial corridor.”
Located off Tremley Point Road, the center is within close access to the Port of New York and New Jersey, the New Jersey Turnpike and Newark Liberty International Airport.
“Today we broke ground on our largest industrial project in Advance’s 40-year history – Linden Logistics Center,” Advance Realty Investors CEO Peter Cocoziello said. “As longtime leaders in New Jersey commercial real estate, we are very excited to be a part of a project that is unrivaled in not only scale, but also its modern and innovative design. We are extremely thankful to the City of Linden and our project partners and look forward to attracting the kind of 21st century employers who will create new jobs for this region and push its thriving economy to even greater heights.”
The Linden Logistics Center will offer flexible layouts to fit tenant needs, excess car and trailer parking, water access, cross-docking capacity, and more, the developers said.
“The area around the Port of New York and New Jersey has long been known for its dynamic industrial market. That remains true today, as it is now being fueled by the growth of e-commerce, last-mile delivery, logistics and distribution,” Frank Greek, president of Greek Development, said. “By developing state-of-the-art facilities like Linden Logistics Center, we can meet all of the evolving needs of all of those businesses and ensure that New Jersey can continue to attract and retain them for decades to come.”