CLINTON, NJ-The new and improved I-78 Logistics Center is on the market for lease or sale, GlobeSt.com has learned.
Cassidy Turley has the exclusive listing for the 729,000-square-foot industrial property at 111 Cokesbury Road, one of the largest industrial centers currently available in the Northeast.
Woodmont Industrial Partners, which owns the facility along with AEW Capital Management, recently completed $4 million worth of improvements. Those include:
- the addition of 36 loading doors
- new lighting, HVAC and sprinkler systems, and
- parking lot expansion to accommodate both shipping and parking needs.
The center includes a divisible structure, one space with 360,000 square feet and 24-foot clearance, and another with 369,000 square feet and 35-foot clearance. There are now a total of 84 exterior docks with one drive-in door, 150 trailer parking spaces and 200 spaces for cars, along with 10,000 square feet of build-to-suit office space.
The 100-acre site is 40 miles west of Port Newark and Port Elizabeth and 30 miles east of the Lehigh Valley. Close to the Newark International Airport, it is situated immediately off Exit 20B of Interstate 78 – which is a toll-free interstate.
"When taking into consideration the significant cost savings of the toll-free location, along with the lower taxes and operating expenses for the I-78 Logistics Center compared to other industrial properties in the submarket, the property offers an unparalleled opportunity for companies looking to provide regional distribution service throughout the metro New York market," says Charles Fern of Cassidy Turley.
The Cassidy Turley team managing the assignment includes Douglas Bansbach, Jeff Furey and Jason Barton, along with Fern who is the company's executive managing director.
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