Spec industrial properties completed in Linden; 1st lease already signed

A pair of large, spec industrial properties in Linden have been completed, with the first one already slated to be occupied under a new lease, according to real estate firm CBRE.

The Linden Logistics Center is being developed by Advance Realty Investors, Greek Development and PGIM Real Estate, CBRE said in a news release. The new Building G totals 840,203 square feet, while Building E comprises 480,844 square feet.

World Distribution Services, a provider of creative warehouse logistics solutions with a focus on distribution and storage, will occupy the entire Building E, at 500 Linden Logistics Way, the firm said.

CBRE’s team of Mindy Lissner, William Waxman and Kevin Dudley led the leasing campaign and represented ownership in the transaction. CBRE’s Jon Casella and David Gheriani represented the tenant.

“The quality of Linden Logistics Center speaks for itself, and was the key reason for World Distribution Services’ decision to be the first major tenant at the complex,” Lissner said in a prepared statement. “This deal also demonstrates the dominance of New Jersey’s industrial market, where Class A logistics space is in short supply. As a result, a distribution facility like Linden won’t stay on the market for very long. We look forward to completing additional deals for the remaining space at the complex.”

The completion of Buildings G and E represents the end of Phase 1 of construction and the start of Phase 2. The full infrastructure buildout for the 350-acre property is expected by midyear.