CBRE announced that the first two properties within the Linden Logistics Center industrial complex are completed, and the first major lease has been signed. Developed by Advance Realty Investors, Greek Development and PGIM Real Estate, Linden Logistics Center totals more than 1.3 million square feet of available prime industrial space. Building G, the larger of the two properties, totals 840,203 square feet while the second building, Building E, comprises 480,844 square feet.
World Distribution Services (WDS), a leading provider of creative warehouse logistics solutions with a focus on retail distribution, transloading, and international and domestic warehouse storage, will occupy Building E, 500 Linden Logistics Way. The new facility, located just south of the Port of New York/New Jersey, will serve as its northeast distribution center, bringing significant warehouse capacity to a growing market. With high bay racking, a flexible warehouse management system (WMS) and state-of-the-art technology solutions, WDS is well-equipped to partner with customers on a wide variety of distribution needs.
The veteran CBRE team of Mindy Lissner, William Waxman and Kevin Dudley spearhead the leasing campaign at Linden Logistics Center and represented ownership in the lease negotiations. CBRE’s Jon Casella and David Gheriani acted on behalf of World Distribution Services.
“The quality of Linden Logistic Center speaks for itself and was the key reason for World Distribution Services’ decision to be the first major tenant at the complex,” said Lissner. “This deal also demonstrates the dominance of New Jersey’s industrial market where Class A logistics space is in short supply. As a result, a distribution facility like Linden won’t stay on the market for very long. We look forward to completing additional deals for the remaining space at the complex.”
Linden Logistics Center is a Class A warehouse development strategically located in one of the most vibrant industrial markets in the U.S. The campus, alongside the NJ Turnpike/I-95, boasts easy access to Newark Liberty International Airport, and the Port Newark-Elizabeth Marine Terminal, one of the largest and busiest container terminals on U.S. East Coast.
The completion of the first two buildings mark the end of Phase 1 of construction and the commencement of the second phase of the development, with full infrastructure build-out for the 350-acre property expected by mid-year 2021.
To access more business news, visit NJB News Now.Related Articles: