(To read more on the industrial market, click here.)
LOGAN TWP., NJ-DP Partners is under contract to sell 32 acres of land within its new LogistiCenter at Logan business park here to Advanced Drainage Systems Inc. The Hilliard, OH-based ADS, a producer of corrugated polyethylene pipe, is set to start construction for a $12-million, 68,000-sf manufacturing plant on the site. Terms of the sale were not released.
"The Logan facility will be our largest and most sophisticated new manufacturing facility," says Joseph A. Chlapaty, ADS' president and CEO. "We have experienced rapid growth throughout the US, and this plant is part of our national expansion program to service the needs of this region's infrastructure markets. By manufacturing pipe as close to our customers as possible, it significantly reduces the time and cost of delivery."
"We are constantly looking for companies to broaden our economy," says Mayor Frank Minor of this Gloucester County township, of a project that's expected to create 100 jobs. "ADS will definitely act as a magnet for other manufacturers."
ADS was represented in the land-sale transaction by David M. Ricci, a partner in the Flynn Co. of Philadelphia. DP Partners, which is based in Reno, NV, was represented by Stephen G. Bailey, the firm's Mid-Atlantic regional director, and by Bill Goodwin, a senior vice president in the Philadelphia office of CB Richard Ellis, which has the exclusive for LogistiCenter at Logan.
Located about 16 miles south of the Port of Philadelphia and a similar distance from Philadelphia International Airport, the new ADS site is part of DP Partners' larger 1,000-acre LogistiCenter at Logan. DP Partners, formerly known as Dermody Properties, bought the tract just over a year ago from the New Castle, DE-based Harvey Development Co.
Formerly known as Northeast Business Center, the tract was renamed with DP's LogistiCenter brand, and the company last month started construction of the site's first spec building, a 360,000-sf distribution center. At build-out, LogistiCenter is slated to have upwards of 5.5 million sf of industrial, R&D, office and flex space. With construction slated to start shortly, ADS' new plant is expected to be ready in mid-2007.
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