Avison Young on Tuesday said it was hired to market a newly constructed 261,646-square-foot, Class A warehouse/light manufacturing facility for lease at 40 Enterprise Ave. in Lawrence Township.
This project, currently under construction with an anticipated fourth-quarter delivery, is known as Lawrence Logistics Center and is the first new building in New Jersey developed by Alcamo Capital. The development aims to help satisfy the current demand in the growing industrial market in central New Jersey, and to bring meaningful employment to the area.
Alcamo Capital will be represented by Principals John C. Giordano III, Timothy Cadigan and Matthew Turse, with support from Vice Presidents John Gianis and Judy Troiano, who are based in Avison Young’s Morristown office.
“This project is important on a number of levels, as it allows Alcamo Capital to reposition the site’s potential in the market, provide the community with greater employment and revenue opportunities and for Avison Young to work with a sophisticated client seeking growth opportunities in our local market,” Cadigan said.
This new facility at 40 Enterprise Ave. reflects ongoing economic and real estate market trends toward e-commerce and logistics and the related demand for modern facilities to serve the customer base. The development will greatly enhance an area primed for modernization and will provide a home for an employer who may have otherwise overlooked the area in search of high-quality space.
“We are thrilled to be partners with Avison Young, who was the clear choice to oversee the leasing for Lawrence Logistics Center, given the firm’s extensive market knowledge and experience in successful project lease-ups. Avison Young’s proprietary technology tools gave us a unique and invaluable insight while reviewing the market and identifying the best approach and use of the property,” Anthony Basile, principal, Alcamo Capital, said.