4.1 Million-Square Foot, Class-A Campus Will Be Largest Active Industrial Development in the Port of NJ/NY Region
The joint venture of Advance Realty Investors and Greek Development today announced they have been awarded NAIOP’s 2019 Industrial “Deal of the Year” award for their joint development Linden Logistics Center – the 4.1-million-square-foot, state-of-the-art logistics park the partnership will begin developing this year.
NAIOP formally extended the award to Advance Realty and Greek Development at the organization’s 32nd Annual Commercial Real Estate Awards Gala on May 16 in Somerset, N.J.
Located off Tremley Point Road in Linden, N.J., Linden Logistics Center will be comprised of 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.
Construction on the development will commence in June with completion slated for late 2020. When complete, Linden logistics center will be the largest active industrial development in the Port of New York/New Jersey region.
“As Advance celebrates 40 years in business this year, we are extraordinarily honored and humbled to earn our third Deal of the Year award for Linden Logistics Center,” said Peter J. Cocoziello, Founder & CEO of Advance Realty Investors. “The New York-New Jersey port region has long been known as one of the most competitive commercial corridors in the country, and the continued rise of e-commerce, last-mile delivery and other modern users continues to push it to even greater heights. As longtime NAIOP members and one of the state’s most active developers throughout a variety of sectors, we are extremely proud to have our project recognized by our peers.”
The prestigious Deal of the Year award is extended annually to a commercial real estate project in recognition of a project’s creativity, complexity and impact on the community.
Linden Logistics Center 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 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.
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.
“This award serves as a testament to the strength of our plans to transform a long-vacant parcel of land into the largest, most state-of-the-art industrial property in the region,” said Frank Greek, Principal and CEO of Greek Development ). “We would like to thank the City of Linden and our project partners, all of whom have played a key role in making that vision a reality. We look forward to breaking ground next month and moving one step closer to creating a modern facility that can attract new businesses and jobs to New Jersey.”
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.
“We are extremely proud to have our work recognized by such a prestigious industry organization as NAIOP,” said Mindy Lissner, Executive Vice President, CBRE. “As the largest active industrial development in the region and one of the most complex projects in the country, it promises to completely revitalize the local job market, create new opportunities for local business owners and contribute substantially to the positive growth of both Linden and Union County.”
About Advance Realty Investors
Advance Realty is a privately-owned real estate investment, development and management company that has been in business for over 40 years. Advance owns, manages or has invested in a diversified, 15-million-square-foot portfolio across all asset classes. The company actively pursues real estate investments in commercial, residential, industrial, retail, mixed-use, and other projects, that enhance value through development, repositioning and redevelopment.
Advance Realty is one of New Jersey’s most well-respected owner/operator/ developers in the Northeast Corridor. Visit www.advancere.com for more information.
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.