CBRE announced Tuesday it has been appointed the exclusive leasing agent for Port Logistics Center at Logan, Building A, a 1.03 million-square-foot speculative project located in the four-building industrial campus currently in Logan Township.
The project is being developed by J.G. Petrucci Co.
Construction of the planned 1.9 million-square-foot Port Logistics Center at Logan has already begun, with the groundbreaking of the first and largest building — scheduled for delivery in late 2021.
A CBRE team comprised of Mindy Lissner, Paul Touhey and Sean Bleiler will spearhead the leasing campaign on behalf of J.G. Petrucci.
Lissner said the project presents a great opportunity.
“The current pandemic has done little to curb the appetite for industrial space in New Jersey,” she said. “Demand continues to push south in New Jersey, as tenants in the market expand their searches due to limited availability of buildings offering over 800,000 square feet.
“The South Jersey market is poised for tremendous growth from the distribution sector and Port Logistics at Logan sits at the entranceway to this growth.”
Situated on approximately 190 acres of land, Port Logistics Center at Logan boasts immediate access to Interstate 295, the New Jersey Turnpike and is less than 30 miles from Philadelphia International Airport and the Port of Philadelphia. Once delivered, Port Logistics Center at Logan will offer one of the best industrial facilities in the market, providing ample vehicle and truck parking.
Peter Polt, executive vice president of J.G. Petrucci, feels the property is ideally located.
“As design/build developers, we must be proactive in anticipating market demand. In addition to its sizeable footprint, what makes the Port Logistics Center at Logan unique is the tremendous access to northern and central New Jersey and the suburban Philadelphia markets,” he said.
“The four-building campus sits between two major ports, allowing for potential distributors access to 40% of the nation’s population within 24-48 hours. We are thrilled to have CBRE’s leasing and capital markets support during this process.”