Levin Management Corp. announced the construction launch for a 30,000-square-foot speculative industrial building at Rutgers Industrial Center in Piscataway. The Class A warehouse facility, located at 101 Circle Drive N., is slated for delivery this summer.
LMC serves as asset manager for Rutgers Industrial Center, a five-building, 493,000-square-foot industrial/warehouse complex situated in the heart of the Interstate 287 industrial corridor, just one-half mile off Exit 8. The Middlesex County complex is well-located five miles from Exit 10 of the New Jersey Turnpike, and minutes away from the NS Independent Bulk Transfer Terminal-Middlesex. Newark Liberty International Airport and the New York/New Jersey seaports are nearby.
The spec project, for which LMC is also serving as construction manager, reflects surging real estate demand from e-commerce users and third-party logistics providers in one of the Garden State’s most sought-after locations, according to Robert Carson, LMC president.
“Demand for quality industrial product in northern and central New Jersey is unprecedented, as companies seek out last-mile distribution space proximate to the populous New York City metro area,” said Carson. “With 101 Circle Drive N., we are positioned to meet the needs of users looking for smaller, move-in ready warehouse space with easy access to the entire metropolitan region and beyond.”
Along with offering superior highway access, 101 Circle Drive N. will feature 35-foot minimum clear heights, six dock doors, 38 parking stalls, up to 1,650 square feet of office space and an ESFR sprinkler system.
The project underscores the depth of LMC’s commercial real estate services platform.
“LMC is widely regarded for its long history of delivering third-party real estate services to retail property owners, and that’s certainly what we are mainly known for,” Carson said. “Yet our portfolio also includes other commercial property types — including approximately 1.65 million square feet of industrial and office assets — sectors for which we are seeing increased demand.”