Greek Real Estate Partners, Advance Realty Investors ink 117K lease at Logan North

Aramsco Inc. signed a 117,000-squre-foot lease at one building within Greek Real Estate Partners and Advance Realty Investors‘ seven-building, 3.2 million-square-foot industrial development complex in Logan Township.

Located at 301 Crossroads Blvd. at Logan North, Aramsco, a distributor of products and services for various industries such as restoration, remediation, cleaning and facility maintenance, took 117,000 square feet of space inside the 274,524-square-foot building, which features 40-foot clear height; 42 dock doors; two drive-in doors; 188 parking spaces; 58 trailer parking spaces; and built-to-suit office space.

Logan North stretches more than a mile of frontage along Route 322 to the east, and Interstate 295 to the south, offering superior access to major transportation infrastructure and the nation’s largest consumer base. The park is only 13 miles from the Philadelphia International Airport and adjacent to the surrounding region’s busiest ports — situated near the Port of Philadelphia, the Port of Wilmington and the Port of New York and New Jersey.

“We’re grateful for the continued dedication of our respective teams and all those who have worked on Logan North to make this project and lease transaction a success,” Alex Cocoziello of Advance Realty Investors, said. “This transaction reaffirms long-term demand for superior, Class A logistics facilities despite a turbulent market and speaks volumes to Logan North’s excellent location and quality design.”

“This lease leaves roughly 160,000 feet of highly functional Class A space available at 301 Crossroads, which the development team is confident will be in high demand,” Alex Motiuk, director of acquisitions at GREP, said.

The JLL team of Dean Torosian, Nate Demetsky, Matt Kemery and Paul Torosian continue to lead the leasing efforts for Logan North and represent ownership. Ryan Bowie of ICON Commercial and Colin Flynn, David Ricci and Brando Casalicchio from the Flynn Co. represented Aramsco Inc.

GREP and Advance acquired the 415-acre property as raw land in 2016 and recently completed a three-phase development to deliver seven state-of-the-art warehouse buildings. Buildings H (1.1 million square feet), E (196,000 square feet), A (164,000 square feet) and F (327,000 square feet) have been fully leased to tenants that include Target, Lasership, SEKO and Lineage Logistics.