Trammell Crow Co. and its joint venture partner, CBRE Investment Management, on Tuesday said they broke ground on the previously announced Arsenal Trade Center, a 1.078 million-square-foot, three-building industrial development in Sayreville.
The 74-acre site was acquired by the JV in June 2022 and is in the heart of the Central New Jersey Industrial Market. Construction is scheduled to be completed in late 2023.
Located at 50 S. Minisink Road, Arsenal Trade Center is four miles east of the New Jersey Turnpike. The site is within an hour’s drive of New York City and a day’s drive of more than one-third of the U.S. population. The location affords tenants easy access to the Turnpike via exits 9, 10 and 11.
TCC and CBRE IM hosted a groundbreaking event for the development earlier this month. At the event, TCC also announced a $100,000 donation to nearby Middlesex College, which will be designated as scholarships for students majoring in architecture and engineering, construction, supply chain or logistics. The donation will also be used as a workforce grant for students seeking certificate training in construction, supply chain or logistics.
“The Central New Jersey Industrial Market continues to be an area that benefits from rising demand for Class A logistics space. Tenants recognize the central location that this market offers, providing access to more than 2 million people within a 30-minute drive and, with it, some of the country’s most talented pools of labor,” Andrew Mele, managing director of TCC’s Northeast Metro office, stated. “The size, scale and high-quality design of Arsenal Trade Center are unique attributes in this market that we believe will be attractive to today’s modern logistics user. We look forward to our continued partnership with CBRE IM and CBRE and to delivering Arsenal to the market next year.”
Read more from ROI-NJ:
- CBRE, in JV with Trammell Crow, acquires 74 acres for 1M sq. ft. industrial development in Sayreville
Arsenal Trade Center’s three buildings, all rear-loaded facilities, will span 284,341 square feet, 341,833 square feet and 451,602 square feet, respectively. Each building offers above-standard car and trailer parking, 40-foot clear heights, full-site circulation and multiple points of ingress and egress. The project’s proximity to major transportation arteries, such as the Turnpike and Garden State Parkway, allows for efficient access throughout the New York/New Jersey metro region.
“We’re proud to celebrate this exciting milestone with our partners at Trammell Crow, as this development is designed to meet the critical demand for high-quality, well-located logistics spaces in one of the nation’s busiest logistics corridors,” Mary Lang, head of Americas direct logistics strategies for CBRE Investment Management, stated. “Once completed, we believe that the Arsenal Trade Center will effectively meet the needs of key occupiers in the region and become a central hub for their modern logistics strategies.”
KSS Architects is designing the Arsenal Trade Center, and RC Andersen is acting as the general contractor. The CBRE team of Thomas Monahan, Larry Schiffenhaus, Stephen D’Amato and Ben Shapiro are marketing and leasing the property.