Rockefeller Group announced that it has broken ground at its 228-acre site in Piscataway, where the leading global real estate owner, developer and investor is developing the 2.2-million-square-foot, state-of-the-art Rockefeller Group Logistics Center.
Rockefeller Group’s plans are propelled by the vigorous demand in New Jersey for modern, advanced-functionality distribution space with direct access to the region’s major transportation routes and robust labor pool. The Cushman & Wakefield team of Jules Nissim, Stan Danzig and Marc Petrella serves as the exclusive marketing and leasing agent for the development, which will comprise six buildings – available for requirements beginning in early 2018 – and represents a combination of speculative and build-to-suit opportunities.
“While the Turnpike corridor has historically been the focus of industrial development in New Jersey, we believe that our master plan for this site – now coming to life, with construction underway – will shift that focus,” said Clark Machemer, senior vice president and regional development officer for Rockefeller Group’s New Jersey/Pennsylvania operations. “The I-287 submarket is the obvious next frontier for development in the northern part of the state, and opportunities like this – in terms of both location and building functionality that can accommodate future growth – are few and far between right now.”
Rockefeller Group Logistics Center features properties ranging in size from 200,000 to more than 800,000 square feet, accommodating users with a wide variety of size and infrastructure requirements. Flexible transaction options will allow for users to lease or own space. Additional notable features and amenities include excess trailer parking for each individual building, on-site rail service, two means of ingress and egress to the site, and an in-place 30-year PILOT agreement.
“There is a convergence of forces at play here that make this site especially desirable. Not only is it one of the last remaining developable parcels of its size in New Jersey, but it’s being developed at a time when building functionality is changing the face of industrial development in the state,” said Mr. Nissim. “Users today are demanding building features, such as 40-foot clear heights and ample trailer parking, that support the continued growth that they’re experiencing, largely driven by e-commerce. Rockefeller Group is accommodating all of those requirements.”