CBRE said Thursday it was named as the exclusive agent for the sale or lease of The Capital Tech & Logistics Campus, a 345,152 square-foot spec development in Ewing.
The property at 1500 Parkway Ave. was a former naval propulsion facility that will be converted into flex and warehouse space consisting of four buildings by KRE Group.
Leasing activity in the industrial market of central and northern New Jersey slowed in the first quarter, as reported by CBRE earlier in April. CBRE said the construction pipeline declined to its lowest level in five years. “After a vibrant end to 2024, demand in the Northern and Central industrial leasing markets retreated in Q1 2025 with unleased construction completions and occupier right-sizing,” the report said.
The Capital Tech & Logistics Campus is adjacent to the Trenton-Mercer Airport and has the potential for a direct connection. The site is a two-minute drive to the Ewing Train Station, three minutes to the airport passenger terminal, and five minutes to Interstate 295.
The CBRE team of Ben Shapiro, Brian Fiumara, Chad Hillyer, Brad Ruppel, Kevin Dudley, and Kate Granahan will spearhead the sale and leasing campaign.
“This was a very complex site to redevelop given its history,” said Shapiro. He said the campus will consist of three 20,000-square-foot flex buildings and a 285,152-square-foot warehouse building. “There is nothing on the market in northern or central New Jersey that matches the capabilities that this campus has,” he said.
The propulsion facility was part of the Naval Air Warfare Center Trenton. The Navy operated it as a jet engine test facility from 1953 until it was closed in 1998 following recommendations of the 1993 Base Closure and Realignment Commission.
