Premier Industrial commercial real estate news, analysis, trends and information including warehouse, distribution, logistics, e-commerce, self storage and R&D space deals and players.
Dermody has been active in the Pennsylvania/New Jersey industrial market of late. The deal for the East Windsor, NJ property comes less than a month after the firm broke ground on two buildings at a 557,820-square-foot complex located 80 miles from the Port of New York and New Jersey in Wind Gap, PA.
Transwestern's senior managing director of analytics, Jimmy Hinton, will develop research/predictive analytics for investment strategy, market and asset selection, underwriting, and portfolio management.
The logistics center is Phase I of the Equus development and features 32-ft. clear heights, a 180-ft. truck court, 189 parking spots, 58 loading spaces and 64 trailer parking spaces.
Designed by internationally-recognized architectural firm Arquitectonica, One Island Park will generate more than $2.9 million in annual tax revenue to the city on a parcel that currently generates $10,500 a year in taxes.
As e-commerce and last mile logistics tenants continue to fuel a massive industrial space expansion, the location of Steelcase's buildings, access to employment and highways were big factors in choosing a site.