Alcamo Capital Wraps Up 262 KSF New Jersey Facility

Representatives of parties involved recently held a ceremony marking the completion of Lawrence Logistics Center in Lawrence Township, N.J. Image courtesy of Avison Young

Alcamo Capital has opened Lawrence Logistics Center, a 261,646-square foot industrial property in Lawrence Township, N.J. This marks the firm’s first development in the state.

RC Anderson was the general contractor, while Avison Young oversees leasing. Eight abandoned buildings were demolished for the construction of this Class A warehouse/light manufacturing facility, according to Lawrence Ledger News.

The property features 40-foot clear heights, approximately 40 dock-high loading doors, six knockout doors and two drive-in doors. In addition, there are 141 car parking spaces and 33 trailer stalls, as well as ESFR sprinkler systems.

Located at 40 Enterprise Ave., the facility is very close to Route 1 and is 2 miles from Interstate 295. Port of Philadelphia is some 30 miles away, while Philadelphia International Airport is roughly 45 miles southwest. Newark International and Port Newark are within 50 miles, while New York’s LaGuardia and JFK airports are within 70 miles.

Avison Young’s leasing team comprises Principals Timothy Cardigan, John Giordano and Matthew Turse, together with Vice Presidents John Gianis, Judy Troiano and Stephen Gianis. Earlier this year, another Avison Young broker represented the Weida Freight System Inc. in a 188,000-square-foot long-term lease at a 1.2 million-square-foot industrial park in Carteret, N.J.

New Jersey and Philadelphia industrial development is booming

Between them, metro Philadelphia and New Jersey had 18.3 million square feet of industrial space under construction as of October, a recent CommercialEdge report shows. Philadelphia, in fact, has the ninth-busiest industrial pipeline in the U.S. by square feet.

Other recent developments in the area include Tac-Pal Logistics Center’s second phase, a 700,000 square feet industrial building in Palmyra, N.J. Sansone and a fund advised by Crow Holdings Capital are working on that project.