On June 22, Dermody Properties, a national industrial acquisition, development and operating firm headquartered in Reno, Nev., and Great Point Investors LLC broke ground on a new distribution facility at LogistiCenter at Logan, a 5.5-million-square-foot, Class A industrial park located in Logan Township.
The companies broke ground on a 393,120-square-foot building and construction is expected to be complete in fall of 2016. The facility will be well suited for e-commerce, food and beverage, and consumer product warehousing and distribution operations. The facility is e-commerce compliant with 36 feet of clear height, 186 car parking spaces and 129 trailer spaces.
LogistiCenter at Logan puts 40 percent of the total U.S. population and one of the world’s largest consumer markets within a one-day drive of its tenants. The industrial park is located halfway between New York City and Washington, D.C., in the heart of the Northeast Transportation Corridor. The industrial park is within 15 miles of the Delaware River ports in Camden, Philadelphia and Wilmington.
“Dermody Properties has been investing in New Jersey and specifically in LogistiCenter at Logan for many years,” said Douglas A. Kiersey Jr., president, Dermody Properties. “It is an excellent distribution market for companies that need to reach both national and international customers.” Dermody Properties is a privately owned industrial real estate investment, development and management firm, founded in 1960.
Great Point Investors LLC originates and manages private market real estate investments on behalf of institutional investors, with a focus on industrial and office assets.
Dermody Properties | June 23, 2016 | Source