Class-A Warehouse Complex is the Largest Planned Industrial Development in Port of NY/NJ Region
A joint venture of Advance Realty and Greek Development today announced plans for a 4.1-million-square-foot, state-of-the-art logistics park on the 350-acre tract of land in Linden, New Jersey, that the partnership acquired earlier this year.
Advance and Greek have 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 agent for the development’s eight Class A warehouse buildings, which are being designed to meet the needs of logistics, distribution, fulfillment, manufacturing, last-mile-delivery, and other modern industrial users. Upon completion in late 2020, Linden Logistics Center will be the largest active industrial development in the Port of New York/New Jersey region.
“We are extremely excited to partner with Greek Development on this transformative project in the heart of one of the country’s premier commercial corridors,” Advance Realty CEO Peter Cocoziello said. “New Jersey has long been known for its thriving industrial market, and this first-class development will cater specifically to the fast-growing logistics, distribution and fulfillment businesses that are currently fueling the sector’s growth.”
Frank Greek, President of Greek Development added: “With this development, Advance and Greek will create not just one of the largest logistics parks in the New York/New Jersey region, but a venue that can help the area maintain its longstanding position as a leader in the nation’s industrial market. As e-commerce, last-mile delivery and other 21st century industries continue to reshape and drive our economy, we are working to ensure they will have truly first-class facilities that help them meet their evolving needs.”
Located off Tremley Point Road, Linden Logistics Center will be 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 one of the world’s most concentrated and affluent customer bases, with approximately 100 million consumers located within a day’s drive from the property.
“I’m excited that Advance Realty and Greek Development see our vision that Linden is the investment of the future. This land has been vacant for over 25 years. Only when vision and opportunity meet can an incredible project like this happen,” said Mayor Derek Armstead. “When completed, the Linden Logistics Center will be one of the largest industrial warehouses and office complex facilities in our State and in the Northeast. This will bring more jobs, opportunities and, perhaps help stabilize or continue to reduce City taxes,” he added.
“I can’t think of a better development project for the city of Linden and other neighboring cities in Union County. Not only is this project going to provide great tax revenues for the city of Linden, it will also completely revitalize the local job market and create renewed opportunity for other local business owners,” said Alex Lospinoso, Executive Director of the Linden Economic Development Corporation. ”Moving this project forward will also create an opportunity for our state government to finally step up to the plate and make the necessary enhancements to our heavily congested infrastructure that has been put on hold for decades.”
In addition to its prime location, Linden Logistics Center offers flexible layouts to suit specific tenant needs, excess car and trailer parking, rail access, water access, cross-docking capability and access to a high-quality workforce in the New York-New Jersey area.
“New Jersey has one of the largest concentrated critical masses of warehouse and distribution space in the U.S., thanks in large part to its vast and exhaustive infrastructure network of highways, deep-water cargo ports, air freight capabilities rail lines and access to New York City,” CBRE Executive Vice President Mindy Lissner said. “With the creation of this state-of-the-art facility, Advance and Greek can look forward to strong interest from the growing number of food, consumer product, household goods, and e-commerce tenants actively exploring and expanding into this critical market.”
For more information on Linden Logistics Center, please visit lindenlogisticscenter.com.
About Advance Realty
Among real estate’s most reputable and successful companies, Advance Realty has established itself as one of the industry’s most innovative and forward-thinking firms. Since 1979, Advance has continuously evolved to meet changing market demands by leveraging the creativity and collective knowledge of its team of world-class professionals, while remaining true to its commitment to responsible development. Headquartered in Bridgewater, New Jersey, Advance employs a multifaceted strategy, actively pursuing real estate investments in commercial, residential, industrial, retail and mixed-use projects that present an opportunity to enhance value through development, repositioning and redevelopment. The company currently owns, manages or has invested in a diverse, 15-million-square-foot portfolio of properties across all asset classes throughout the Northeast Corridor. For more information, visit www.advancere.com.
About Greek Development
Greek Development is a leading Central New Jersey-based full-service real estate firm focused on industrial development throughout New Jersey and Pennsylvania. Founded in 1934, the company has developed more than 27 million square feet of primarily industrial space. As one of the oldest industrial real estate development specialists in the industry today, F. Greek Development is a vertically-integrated company operating every phase of its 17 million square foot portfolio including site selection, design, construction, leasing, property management and tenant relations. For more information, visit www.greekdevelopment.com.