By Lauren Diggs CoStar Research
A joint venture between NFI Real Estate and Penwood Real Estate Investment Management has completed construction on the Exit 5 Industrial Park, a two-building speculative logistics development totaling 528,478 square feet at 800 Irick Road in Burlington County, New Jersey.
The project, also marketed as Turnpike 5 Logistics Park, consists of a 310,000-square-foot building in Burlington Township and a 218,478-square-foot facility in Westampton located off Exit 5 of the New Jersey Turnpike. Both buildings are fully available for lease following their July 2026 completion.
The single-side load facilities have 36-foot clear heights, extensive trailer parking, heavy power and functional building and site configurations designed to meet modern logistics requirements. Building A includes two drive-in bays and 286 standard parking spaces, while Building B has 26 dock doors and 120 car parking spaces.
The joint venture partnership between NFI Real Estate and Penwood secured $54 million in construction financing from Fifth Third Bancorp for the development.
NFI is a privately held supply chain services provider based in Camden, New Jersey, owned by the Brown family. Its development partner, Penwood Real Estate Investment Management, is a real estate investment advisory firm based in West Hartford, Connecticut.
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