Thursday, May 19, 2022

Garden State Logistics Park in Pennsville, NJ slated for Fall 2023 completion

 

Garden State Logistics Park,
 a planned 1.7 million-square-foot,
 state-of-the-art center in Pennsville, NJ.

Pennsville, NJ and Dallas, TX – CT Realty, in joint venture with PGIM Real Estate, the real estate investment and financing business of PGIM, the $1.5 trillion global asset management business of Prudential Financial (NYSE: PRU), has acquired 282 acres of industrial land for the development of Garden State Logistics Park, a 1.7 million-square-foot, state-of-the-art logistics center in Pennsville, NJ.

 Development is already underway on the site, with delivery of the project slated for the third quarter of 2023.

 

Rob Huthnance

“This is an exceptionally rare opportunity to assemble a critical mass of land and create a top-flight logistics project in the second largest industrial market in the country,” said Rob Huthnance, who oversees CT’s development activity in the Eastern U.S.

 

“This project is at the gateway to Southern New Jersey and will serve as a distribution hub for the entire Northeast, able to serve 66 million consumers in a single day’s truck drive."


Brian Fuimara

The land sale was represented by Brian Fuimara at CBRE, though the terms of the transaction are undisclosed. CBRE will also represent the buildings for lease or sale through its New Jersey and Philadelphia offices.  

 

Garden State Logistics Park is located at the former Deepwater property next to the Delaware Memorial Bridge at I-295 in Pennsville, NJ, and is minutes from I-95 and access to the entire regional logistics transportation network.

 

 

NOTE: Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

 

CONTACTS:

 

Stacey Hershauer | 480-600-0195

stacey@focusaz.com

 

Randy Hall | 714-263-8723

randy@ideahall.com

 

ctrinvestors.com.

pgim.com.

pgimrealestate.com.

 

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