By Linda Moss CoStar News
Rockefeller Group has sold a recently completed 345,600-square-foot distribution center in the southern part of New Jersey for $83 million, as industrial projects continue to make their way out of the densely developed northern area of the Garden State.
New York-based Rockefeller on Wednesday said Glendale Warehouse and Distribution Corp. had acquired the Rockefeller Group Logistics Center at 2575 Route 206 in Eastampton. The industrial facility is located on roughly 28 acres about 8 miles from Exit 7 of the New Jersey Turnpike. Rockefeller Group purchased the property in September 2021. The buyer, a growing company, is consolidating some of its operations from Edison, New Jersey.
The new Class A distribution center is in one of New Jersey’s fastest-growing industrial markets, Burlington County, according to Zac Csik, vice president of Rockefeller New Jersey-Pennsylvania development. The complex "drew significant interest from both local and national users during the construction of the core and shell," he said in a statement.
New Jersey is one of the most in-demand markets for industrial users, because of its proximity to major airports and seaports and its location in a highly populated region. But industrial space is extremely tight in North Jersey, with record-low vacancy rates and little open land left to build on. So for several years now real estate firms have increasingly been buying parcels and building warehouse father and farther south. They have clustered those distribution centers along the turnpike.
Glendale will use its newly acquired warehouse to distribute spices and other food products, according to Rockefeller. The distribution center includes 96 trailer spaces, 384 auto-parking spaces and a 185-foot truck court with a 60-foot concrete apron. The property also features 54 dock doors with two drive-in doors, 36-foot-clear ceiling heights, 4,000 square feet of speculative office space and 3,000 amps of power.
Glendale is expanding its business in New Jersey, according to the company's president, Frank Collette.
“With this new facility, developed by a terrific partner in Rockefeller Group, we are consolidating operations from multiple buildings in Edison to this larger building and will be able to better serve our customers and utilize multiple ports of entry for our imported products,” he said in a statement.
Glendale will employ about 30 workers at the new facility, many of whom are coming over from its sites in Edison, according to Rockefeller.
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