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LOGAN NORTHINDUSTRIAL PARK
2858 ROUTE 322, LOGAN TWP.GLOUCESTER COUNTY, BRIDGEPORT, NJ
±415 ACRE INDUSTRIAL SITE
OFFERINGCushman & Wakefield is pleased to offer for sale the 100 percent fee simple interest in Logan North Industrial Park (the “Property”). Logan North Industrial Park is located at the southwest corner of Interstate 295 and U.S. Route 322 in Logan Township, Gloucester County, New Jersey. Logan North represents an exceedingly rare opportunity for investors to acquire a scalable industrial park of in one of the world’s premier industrial markets. Logan North is strategically located between New York City and Washington DC, boasts direct access to 295 and easy access to the New Jersey Turnpike. 40% of the United States population can be reached within a one day drive. The site totals 414.79 acres and can potentially yield in excess of 3 million square feet. The site is serviced by all the necessary utilities including CSX rail. Logan North will represent to investor the kind of opportunity that comes along once in a career.
L O G A N N O R T H I N D U S T R I A L P A R K
PROPERTY OVERVIEWProject Name Logan North Industrial Park
Potential Buildable SF Greater than 3M SF
Acreage ±415
Class Core A
Submarket Gloucester County
Zoning Warehouse/Distribution
Potential Clear Height Up to 40’
As of right Impervious coverage up to 80%
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EXIT 11
HIGHLIGHTSStrategic LocationLogan North Industrial Park is strategically located directly off exit 11 of interstate 295. Located 90 Miles from New York City, 15 Miles from Philadelphia and 105 miles from Washington DC, Logan North is strategically located at the heart of United States’ most important consumer base. These attributes have combined to make the Southern New Jersey industrial market a must consider location for firms opening or relocating any North East distribution center.
Exceptional Core Market – High DemandLogan North is positioned in the Southern New Jersey industrial market comprised of the Burlington, Gloucester, Camden and Salem counties. The Class A segment in this market boasts a nominal vacancy rate and build to suit projects are becoming the standard solution for firms sourcing facilities greater than 400,000 SF. This dynamic has driven base rents to three years of straight year over year increases in excess of 5%. This kind of rent growth is demanding the attention of institutional capital.
Best-In-Class DesignThe Property will support best-in-class industrial design. The superior geo-tech engineering at Logan North will allow for slab-on-grade construction with live floor loads that exceed over 500 pounds per square foot. The Property will also feature industry leading trailer parking and loading ratios. The sites direct access to 295 compared to inferior access at competitive developments will allow Logan North to be the first choice for tenants and users looking to locate in Southern New Jersey.
Proximity to Ports and Major Transportation Infrastructure Logan North’s infrastructure access is second to none. The property has direct access to 295. It is proximate to three major deep water ports, 15 Miles from the Port of Philadelphia, 93 Miles from the Ports of Newark and Elizabeth and 88 Miles from the Port of Baltimore. Additionally, the site is serviced by two Class 1 railroad, Norfolk Southern and CSX. The triple threat of road, rail and water access will make Logan North a must consider location for any user utilizing multi-modal transportation.
Robust Economic IncentivesCreated by the Economic Opportunity Act of 2013 and broadened by the Economic Opportunity Act of 2014, GrowNJ is New Jersey’s incentive program that attracts and retains corporations through annual tax credits. It is overseen by the New Jersey Economic Development Authority (NJEDA). In order to qualify for the tax credits a project must be located in a qualified area, be in need of financial support, and demonstrate that the award is crucial to the applicant’s decision to remain in or relocate to New Jersey. The base grant for award is calculated according to three thresholds: jobs, capital investment and net benefit.
• Create at least 35 jobs and/or retain 50 jobs(1)
• Make or acquire a capital investment of at least $60 per square foot for new industrial development(1)
• Yield a positive net benefit to the state• Maintain 80% of project and statewide employment for 1.5x the term of the credit
Bridgeport/Logan TownshipLogan Township qualifies as a Priority Area, which provides companies with base grant of $3,000 per year, per new job created, for a term of 10 years. Retained jobs would be entitle to 50% of the new-employee base grant amount. In addition to base grant, projects may qualify for additional bonus grants. There are more than a dozen bonuses that applicants may be eligible for.
(1) Job and Investment thresholds for Gloucester County and 12 other Southern NJ counties is lower than the rest of the state
L O G A N T O W N S H I P , N E W J E R S E Y
26 Main Street, Chatham, NJ 07928 | 555 Croton Road, King of Prussia, PA 19406
For more information please contact:
Matthew MarshallManaging Director610 574 [email protected]
Jeffrey WilliamsManaging Director215 284 [email protected]
Andrew HoustonVice President973 769 [email protected]
SITE PLAN
Timothy CahillVice President312 424 [email protected]
Michael PiscoranSenior Vice President312 424 [email protected]
