A joint venture of Advance Realty Investors, Greek Development and PGIM Real Estate, announced that it has broken ground on Linden Logistics Center – a 4.1-million-square-foot, state-of-the-art logistics park in Linden, N.J.
The redevelopment, which recently received the NAIOP New Jersey’s Industrial “Deal of the Year” award, is located on a formerly vacant 350-acre tract of land in Linden, New Jersey that the partnership acquired in 2018.
Linden Logistics Center will consist of eight Class A warehouse buildings designed specifically to meet the needs of logistics, distribution, fulfillment, manufacturing, last-mile-delivery, and other modern industrial users. Delivery of this multi-phase project will begin in late 2020, and upon completion, Linden Logistics Center will be the largest active industrial development in the Port of New York/New Jersey region.
The venture has retained CBRE, Inc. Executive Vice President Mindy Lissner and Executive Vice President William Waxman, supported by a 10-person team including Tom Sullivan and Kevin Dudley, to serve as exclusive leasing agents for the property.
“The construction of Linden Logistics Center marks a major economic investment in Linden and the development of a parcel of land that has been vacant for more than 25 years,” said Mayor Derek Armstead.
“This innovative project will create massive new tax revenues, attract new businesses, and most importantly put hundreds of area residents to work.
“We are grateful that the leaders at Advance Realty, Greek Development and PGIM Real Estate execute our vision through their investment in the City of Linden.”
Linden Logistics Center will offer superior access via a new bridge directly into the project. Located off Tremley Point Road, it is situated just 10 miles from the Port of New York and New Jersey – the largest port on the East Coast and the third-largest port in the United States – and minutes from the New Jersey Turnpike (Interstate 95) and Newark Liberty International Airport.
The location provides exceptional access to 100 million consumers located within a day’s drive from the property.
“Today we broke ground on our largest industrial project in Advance’s 40-year history – Linden Logistics Center,” said Advance Realty Investors CEO Peter Cocoziello.
“As longtime leaders in New Jersey commercial real estate, we are very excited to be a part of a project that is unrivaled in not only scale, but also its modern and innovative design. We are extremely thankful to the City of Linden and our project partners and look forward to attracting the kind of 21stcentury employers who will create new jobs for this region and push its thriving economy to even greater heights.”
“The area around the Port of New York and New Jersey has long been known for its dynamic industrial market. That remains true today, as it is now being fueled by the growth of e-commerce, last-mile delivery, logistics and distribution,” said Frank Greek, President of Greek Development.
“By developing state-of-the-art facilities like Linden Logistics Center, we can meet all of the evolving needs of all of those businesses and ensure that New Jersey can continue to attract and retain them for decades to come.”
“We are extremely excited to lead the leasing efforts for one of the largest industrial and innovative developments in this region,” said CBRE Executive Vice President Mindy Lissner.
“Thanks to its unprecedented combination of access to a skilled workforce, vast network of highways, rail lines, air freight capabilities and one of the most active deep-sea ports in the country, this facility is a perfect home for companies searching for efficient access to New York, Philadelphia and various other major metropolitan markets.
“We look forward to engaging with the growing number of food, consumer product, e-commerce and other industrial users searching for a first-class space in this thriving commercial corridor.”