Performance Team, a Maersk-owned logistics company, signed a lease Thursday for a 1.2-million-square-foot building in Cinnaminson, the Philadelphia region’s biggest warehouse, according to reports.
For context, the building, known as the Box Park Logistics Center, is about the size of the Cherry Hill Mall and has the potential to expand to 1.5 million square feet. The Philadelphia Business Journal said the deal will bring 1,000 jobs to the area.
The warehouse is on Taylors Lane in Cinnaminson, a township 10 miles northeast of Philadelphia with a population of 17,668.
“This project, in size alone, was a tremendous undertaking,” said Mark Glagola, senior vice president at Logistics Property Company, which owns the building. “We are grateful to the teams who worked on the project, including our general contractor, FCL, our brokerage team at Cushman & Wakefield, and Cinnaminson Township.”
The warehouse was built in 2023 and has 40-foot ceilings, 215 dock doors, 216 trailer spots, and 549 car parking spaces. It’s also LEED-certified for energy efficiency.
The Performance Team will use the site for operations, transportation, and warehouse work, including conveyor and dispatch services. Performance Team, based in El Segundo, Calif., was founded in 1987 and purchased by Maersk in 2020 for $545 million.
“This new 1.2 million-square-foot facility in Cinnaminson marks a significant step in strengthening our logistics network in the Northeast,” said Jason Walker, head of Maersk Contract Logistics, North America. “This location positions us closer to our customers and key transportation corridors, enabling faster, more efficient service while also creating meaningful job opportunities for the local community.”
