Looking to take advantage of the still-rising demand for industrial space, Dermody Properties is slated to begin construction this spring on a roughly 1.2 million-square-foot logistics park on a 154-acre site in South Jersey.

Dermody, based in Reno, Nevada, plans three buildings at its LogistiCenter at Woolwich development, which is located in Woolwich Township in Gloucester County. When completed, the properties will have 262,200 square feet, 552,585 square feet and 336,700 square feet available for leasing. Their addresses are 2057 Route 322, 2120 Route 322 and 2062 Route 322, respectively. 

Demand for industrial space had been skyrocketing, driven by e-commerce, in New Jersey even before the pandemic last year. Stay-at-home orders and store closures gave online buying another boost, and the need for logistics space exploded. But there is scant vacant space available to build such projects in North Jersey, so distribution and warehouses are being constructed farther south in the Garden State. 

The Class A, state-of-the-art facilities in Woolwich will each feature a 36- to 40-foot clear height, build-to-suit office space, 50 to 110 dock-high doors, drive-in doors and ample trailer and car parking. LogistiCenter at Woolwich is located at the intersection of U.S. Route 322 and Locke Avenue, and Dermody said it will make significant improvements to that junction as it develops its new park.

“Southern New Jersey remains a valuable alternative for many customers looking to be along Interstate 95, and the location offers tremendous access to New York City, Philadelphia, Baltimore and Washington, D.C., all within a two-hour drive via major arterials,” Gene Preston, Dermody East region partner, said in a statement. “The market continues to attract top-tier companies looking for Class A warehouse space that has become too rare to find or too expensive in central and Northern New Jersey.”

There is a good balance of residents with manufacturing or distribution experience, recent high school graduates looking for entry-level roles and college graduates looking for advanced or leadership roles all within a 30-minute drive of the Woolwich location.

The real estate firm isn’t a stranger to South Jersey. It developed the LogistiCenter at Logan, a Class A business park with more than 5.5 million square feet of warehouse, distribution and manufacturing space that’s located in Logan Township.

Founded in 1960, Dermody has invested in more than 89 million square feet of industrial space. 

*Article courtesy of CoStar

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Maguire Hayden has expanded its industrial holdings and paid $23.1 million for a South Jersey building that houses operations for Amoroso’s Baking Co., according to property records.

The 382,000-square-foot building at 151 Benigno Blvd. in Bellmawr was sold by 151 Partners LLC and Quattro Foods Group LLC, which are both affiliates of the Amoroso family and the baking company, according to Camden County property records. Amoroso’s will continue to lease the building on a long-term basis, according to sources familiar with the deal.  A representative from Maguire Hayden declined to comment on the transaction. 

The Amoroso-related entities bought the South Jersey property in 2013 for $4.94 million from Harcourt Inc., which had used it as a distribution center for its publishing business. Amoroso’s shifted its Philadelphia operations and 200 jobs at 845 S. 55th St. to the Bellmawr property in 2015 after receiving $20 million in Grow NJ tax credits. 

Conshohocken-based Maguire Hayden began to shift its focus from office properties to industrial real estate in 2012. It has been buying industrial properties throughout the Mid-Atlantic and looks for properties on the scale of the Amoroso’s building or smaller.

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

A retail center anchored by a ShopRite grocery store in the suburbs of Philadelphia has traded hands.

Mill Pond Village, a 94,550-square-foot shopping center at 380 Egg Harbor Road in Sewell, New Jersey, was sold. The sale price wasn’t disclosed.

ShopRite, a dominant grocer in South Jersey, has been an anchor at the Gloucester County shopping center for nearly 13 years. The tenant roster at the 98% leased property also includes Inspira Health, Orangetheory Fitness, Hair Cuttery and AAA. 

Mill Pond Village spans two buildings and is about 14 miles from Philadelphia’s Center City District. The property’s neighbors include Rowan University and Jefferson Health, and the retail site serves a trade area that includes 161,499 residents within a 5-mile radius, according to the broker on the transaction.

“With ShopRite performing extremely well at this location and attributing to such a large portion of the income, Mill Pond Village is a stable investment,” the broker said in a statement. “We saw a great amount of competition for this asset and we are pleased to have the opportunity to work with both buyer and seller as they worked diligently to complete the transaction.”

*Article courtesy of CoStar

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

A 117-acre industrial site in South Jersey has sold for $110.5 million, paving the way for the construction of two speculative Class A distribution buildings. 

A joint venture between Clarion Partners and Baltimore-based MRP Industrial bought the expansive property at 1900 River Road in Burlington Township from Boston-based Stag Industrial, which paid $61.5 million for the site in 2015. 

A vacant 1-million-square-foot warehouse building formerly occupied by the U.S. General Services Administration currently sits on the property and will be decommissioned and demolished. 

New York-based Clarion and MRP Industrial, which also operates an office in West Chester, plan to construct two new buildings on the site based on increasing demand in the area for distribution assets. The projected size of the two buildings has not been determined. 

The property is located close to Route 130, the New Jersey Turnpike, two bridges into Pennsylvania and Interstate 295, making it a hot area for e-commerce companies seeking access to major transit arteries. 

In late 2019, Amazon opened a new 1-million-square-foot warehouse about two miles south of the 1900 River Road site. Amazon’s building sits on the border of Burlington Township and Burlington City, and adds to the e-commerce giant’s presence in the area. It also operates a more than 600,000-square-foot facility about four miles north on Cedar Lane in Florence. 

MRP is also developing a two-building, 950,000-square-foot Class A industrial park on 102 acres on Florence-Columbus Road in Mansfield, Burlington County, roughly seven miles from the 1900 River Road site. 

In 2016, MRP and New York-based Clarion developed the four-building, 1.6-million-square-foot Burlington Industrial Park located just off Route 130 in Burlington Township. Current tenants include retailer H&M, American Hotel Register and HD Supply.

*Article courtesy of Philadelphia Business Journal

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Stag Industrial, a real estate investment trust, said it sold a vacant distribution warehouse in Burlington, New Jersey, in the state’s biggest industrial sale by total price this year.

The company, based in Boston, said it sold 1900 River Road, a roughly 1 million-square-foot facility that was built in 1992, for $172 million to an undisclosed buyer.

The sale price amounts to about $164 per square foot, significantly above the market sale price for an industrial property in Burlington of $99 per square foot, according to CoStar. 

The sale is the top total sum paid for a single industrial property in New Jersey in 2020, according to CoStar. It surpasses the $164 million sale of 50 Veronica Ave., a 926,392-square-foot industrial facility in Somerset that is 100% leased to LG Electronics.

The River Road property had been fully leased to the General Services Administration until this month, according to public records. The property is now vacant. 

Burlington sits in the broader Philadelphia metropolitan area, where the industrial market is its healthiest commercial real estate sector, according to CoStar research. The city benefits from its proximity to major population hubs including New York City and Washington, D.C., and is an attractive spot for retailers and e-commerce companies to maintain a significant presence.

*Article courtesy of CoStar

For more information about South Jersey industrial space for sale or lease in South Jersey or about any other South Jersey properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.