{"id":1004593839,"date":"2022-07-27T03:00:00","date_gmt":"2022-07-27T11:00:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004593839"},"modified":"2022-12-07T21:54:00","modified_gmt":"2022-12-08T05:54:00","slug":"advance-realty-greek-development-land-227m-for-major-nj-projects","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/advance-realty-greek-development-land-227m-for-major-nj-projects\/","title":{"rendered":"Advance Realty, Greek Development Land $227M for Major NJ Projects"},"content":{"rendered":"\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"799\" alt=\"Advance Realty Investors and Greek Development\" class=\"wp-block-jetpack-slideshow_image wp-image-1004593845\" data-id=\"1004593845\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-.jpg?w=696\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-.jpg?resize=1024,682 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Linden Logistics Center. All images courtesy of Advance Realty Investors and Greek Development <\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"799\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004593846\" data-id=\"1004593846\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-2.jpg?w=696\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-2.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-2.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-2.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Linden-Logistics-Center-2.jpg?resize=1024,682 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Linden Logistics Center<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"799\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004593847\" data-id=\"1004593847\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-B.jpg?w=696\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-B.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-B.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-B.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-B.jpg?resize=1024,682 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Logan North Industrial Park Building B<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"799\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004593848\" data-id=\"1004593848\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD-2.jpg?w=696\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD-2.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD-2.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD-2.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD-2.jpg?resize=1024,682 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Logan North Industrial Park Building CD<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"799\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004593849\" data-id=\"1004593849\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD.jpg?w=696\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/Logan-North-Industrial-Park-Building-CD.jpg?resize=1024,682 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Logan North Industrial Park Building CD<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n<p>A partnership between <strong>Advance Realty Investors<\/strong> and <strong>Greek Development <\/strong>has secured more than $227 million in construction financing for the third phases of two large industrial projects in the metro areas of New Jersey and Philadelphia.<\/p>\n<p><strong>Wells Fargo <\/strong>originated a nearly $141.8 million loan for the third phase of Linden Logistics Center a 1.3 million-square-foot development in Linden, N.J., while also providing approximately $85.3 million for the third phase of Logan North Industrial Park in Logan Township, N.J., according to public records. At full build-out, Logan North Industrial Park is set to include 3.2 million square feet.<\/p>\n<hr>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-sector-holds-steady-amid-amazon-slowdown\/\">Industrial Sector Holds Steady Amid Amazon Slowdown<\/a><\/p>\n<hr>\n<p>In the first half of the year, developers across the New Jersey and Philadelphia markets secured $791.7 million in construction financing backed by 5.5 million square feet of industrial projects underway, CommercialEdge data shows. Lenders included BMO Harris Bank, UMB Bank and Quadreal Finance, among others.<\/p>\n<p><strong>Cushman &amp; Wakefield <\/strong>arranged the financing for the upcoming expansions. The debt team included John Alascio, TJ Sullivan and Chuck Kohaut.<\/p>\n<h2>Two metros, two Class A industrial projects<\/h2>\n<p>The last phase of Linden Logistics Center will include Building 100 totaling 332,635 square feet and Building 200 encompassing 516,600 square feet, taking shape at 100 and 200 Linden Logistics Way. Both warehouses will have a 40-foot clear height and will include 3,000 square feet of office space. The buildings will feature a total of 143 dock doors, 4 drive-in doors, 430 vehicle parking spaces as well as 134 trailer parking spaces.<\/p>\n<p>Advance Realty Investors and Greek Development expect to deliver Buildings 100 and 200 in the second quarter of 2023. Within the park, work is underway on the second phase, which includes Buildings 300, 400 and 700, totaling 1.6 million square feet anticipated to come online by year\u2019s end.<\/p>\n<p>The co-developers also expect to deliver the third phase of Logan North Industrial Park in the second quarter of 2023. This addition will include Buildings B and CD, spanning 274,200 square feet and 475,000 square feet, respectively.<\/p>\n<p>The two structures at 301 Crossroads Blvd. and 2858 U.S. Route 322 will have a total of 416 car parking spaces and 127 trailer parking stalls with Building CD offering 109 dock doors and Building B 40 dock doors.<\/p>\n<p>Advance Realty Investors and Greek Development tapped <strong>JLL<\/strong> to lead leasing efforts at Logan North Industrial Park, while the partnership opted for <strong>CBRE <\/strong>to market Linden Logistics Center. In March, the co-developers signed <a href=\"https:\/\/www.commercialsearch.com\/news\/southern-nj-industrial-park-inks-500-ksf-in-new-leases\/\">two full-building leases<\/a> at the 3.2 million-square-foot business park.<\/p>\n<p><strong>SEKO Logistics <\/strong>agreed to occupy the 164,000-square-foot Building A, while Building F totaling 327,000 square feet will be home to <strong>LaserShip Logistics. <\/strong>The tenant roster at the two industrial campuses includes World Distribution Services, Peloton, Target and Lineage, CommercialEdge data shows.<\/p>","protected":false},"excerpt":{"rendered":"<p>Wells Fargo originated the loans, which were arranged by Cushman &amp; Wakefield.<\/p>\n","protected":false},"author":1763,"featured_media":1004593853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21748,21742,10],"tags":[46952,32789,32799,51514,32796,33277],"class_list":["post-1004593839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-industrial","category-latest","category-northeast","tag-advance-realty-investors","tag-cbre","tag-cushman-wakefield","tag-greek-development","tag-jll","tag-wells-fargo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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