By Javon Roach CoStar Research
MRP Industrial, a privately held real estate company based in Baltimore, Maryland, that has built a large number of industrial facilities throughout the Northeast U.S., and its investment backer Clarion Partners, have wrapped up construction on their latest project at 1900 River Road, a two-building, in-fill redevelopment industrial park totaling 1,512,840 square feet.
The speculative project was completed with no preleasing commitments and is fully available.
The new industrial development occupies the site of the former GSA Eastern Distribution Center, a 1,050,266-square-foot warehouse that MRP and Clarion acquired from Stag Industrial in 2020 and subsequently demolished to make way for the two-building redevelopment.
Located in central New Jersey's Burlington County, the site offers access to the Pennsylvania and New Jersey Turnpike Connection at Exit 6A. Building 1 is an 845,280-square-foot cross-dock facility with full-building circulation, 600 auto stalls, 225 trailer stalls and 175 dock doors. Building 2 measures 667,560 square feet with 475 auto stalls, 95 trailer stalls, and 160 dock doors.
The project broke ground in October 2022 and the industrial park is surrounded by locations for several major corporate tenants such as Burlington, Performance Team and Trane to name a few.
A construction boom of industrial space across the Philadelphia region has posed lease-up challenges as supply continues to outpace demand for the fifth consecutive quarter, with Burlington County located at the epicenter of the new supply wave.
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