{"id":1004512513,"date":"2021-02-25T04:21:27","date_gmt":"2021-02-25T12:21:27","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004512513"},"modified":"2021-05-15T10:09:15","modified_gmt":"2021-05-15T18:09:15","slug":"dermody-to-develop-1-msf-logistics-park-in-metro-philadelphia","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dermody-to-develop-1-msf-logistics-park-in-metro-philadelphia\/","title":{"rendered":"Dermody to Develop 1 MSF Logistics Park in Metro Philadelphia"},"content":{"rendered":"
\"\"<\/a>

Image by falco via Pixabay.com<\/em><\/p><\/div>\n

Dermody Properties plans to start construction this spring on LogistiCenter at Woolwich, a three-building, 1.2-million-square-foot logistics park in Woolwich Township, Gloucester County, N.J.<\/p>\n

\n

READ ALSO<\/strong>: Top 10 Markets for Industrial Transactions in 2020<\/a><\/p>\n

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The three Class A buildings will be of 552,585; 336,700; and 262,200 square feet and will feature 36- to 40-foot clear heights, build-to-suit office space, ESFR fire protection systems, 50 to 110 dock-high doors, drive-in doors, as well as ample trailer and car parking.<\/p>\n

The location is at the Woolwich Township intersection of Route 322 and Locke Avenue. In conjunction with the 154-acre park\u2019s development, Dermody plans to make significant improvements to the intersection.<\/p>\n

The site is less than 2 miles from I-295 and less than 3 miles from I-95. This easy highway access reportedly will allow customers to reach 33 percent of the U.S. population in a single day\u2019s drive.<\/p>\n

Dermody did not reply to Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n

CBRE has been selected as the park\u2019s exclusive agent, with brokers Mindy Lissner, Drew Green, Paul Touhey, Dan McGovern and David Gheriani handling leasing activities.<\/p>\n

The virtues of South Jersey<\/h2>\n

Southern New Jersey is an attractive alternative for companies that want Class A warehouse space, but find that it\u2019s too rare or too costly in Central and Northern New Jersey, Gene Preston, East Region partner at Dermody Properties, said in a prepared statement.<\/p>\n

The Gloucester County warehouse\/distribution space market has a 3.8 percent total vacancy and 4.9 percent total availability, on an inventory of about 26.1 million square feet, according to a fourth-quarter report from JLL.<\/p>\n

About 960,000 square feet of space was delivered in the submarket in 2020, all of it in the fourth quarter, and nearly 1.3 million is currently under construction, JLL reported.<\/p>\n

Last May, when Dermody delivered its LogistiCenter at Speedway<\/a>, in North Las Vegas, the 251,800-square-foot property was already 30 percent leased.<\/p>\n

On the other side of the ledger, in June, Dermody and partner PCCP sold LogistiCenter at 33<\/a>, in Easton, Pa., to Black Creek Group. The 475,800-square-foot property went for $62.5 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The three-building property in Gloucester County, N.J., will get underway this spring, with CBRE responsible for leasing. <\/p>\n","protected":false},"author":882,"featured_media":1004517733,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,21742,10,1494],"tags":[38162,36664,32796,33053],"class_list":["post-1004512513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-latest","category-northeast","category-philadelphia","tag-black-creek-group","tag-dermody-properties","tag-jll","tag-pccp-llc"],"acf":[],"yoast_head":"\nDermody to Develop 1 MSF Logistics Park in Metro Philadelphia - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dermody-to-develop-1-msf-logistics-park-in-metro-philadelphia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dermody to Develop 1 MSF Logistics Park in Metro Philadelphia\" \/>\n<meta property=\"og:description\" content=\"The three-building property in Gloucester County, N.J., will get underway this spring, with CBRE responsible for leasing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dermody-to-develop-1-msf-logistics-park-in-metro-philadelphia\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-25T12:21:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:09:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/logistics-pixabayimage.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dermody-to-develop-1-msf-logistics-park-in-metro-philadelphia\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dermody-to-develop-1-msf-logistics-park-in-metro-philadelphia\/\",\"name\":\"Dermody to Develop 1 MSF Logistics Park in Metro Philadelphia - 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