CLINTON, NJ – Cassidy Turley, a leading commercial real estate services provider in the U.S., has been awarded an exclusive assignment to lease or sell 111 Cokesbury Road in Clinton, New Jersey. The 729,000 square foot industrial property, known as I-78 Logistics Center, is owned by the partnership of Woodmont Industrial Partners and AEW Capital Management. The property is one of the largest available distribution centers in the NJ/PA markets, located on approximately 100 acres immediately off of Interstate 78 at Exit 20B.
The Cassidy Turley team managing the assignment includes Charles Fern, Executive Managing Director; Douglas Bansbach, Senior Vice President; and Jason Barton, Associate Vice President.
The I-78 Logistics Center, a Class-A property in the desirable I-78 submarket, includes a divisible structure comprised of 360,000 square feet and 369,000 square feet with 24 foot and 35-foot clear heights, respectively. Other features include a total of 84 exterior docks with one drive-in door along with 10,000 square feet of build-to-suit office space, which equates to one door for every 8,700 square feet of building area. The site can also accommodate 150 trailers and 200 automobiles.
In addition, Woodmont Industrial Partners recently completed a $4 million capital improvement plan, which included the addition of 36 new loading dock positions, T-5 lighting, and new HVAC and sprinkler systems as well as a parking lot expansion to accommodate both shipping and parking needs.
When comparing 111 Cokesbury to others in the market, its excellent location on toll free I-78 combined with lower taxes and operating costs yields significant savings to its tenants. Mr. Fern of Cassidy Turley concludes that “taking into consideration these cost-savings and location, the property offers an unparalleled bottom line opportunity for companies looking to gain a competitive advantage in regional distribution. The regional distribution center is strategically located between the Ports of Newark and Elizabeth and the Lehigh Valley submarket, and is in close proximity to Newark International Airport and New York City.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
About Woodmont Industrial Partners
Woodmont Industrial Partners is an affiliate of Fairfield, New Jersey based Woodmont Properties, a leading real estate development and management firm established in 1963. Woodmont Industrial Partners was formed in 2011 and is focused on the acquisition opportunities in select, highly desirable globally oriented seaports of New York/New Jersey, Baltimore and South Florida, and the inland intermodal points of the Lehigh Valley and Harrisburg regions in Pennsylvania. The goal is to create a portfolio of high-quality assets via the acquisition of individual properties as well as development opportunities. www.woodmontindustrialpartners.com
Lorraine Gimblett Joanne Jordan Bailey Webb
Lorraine@food-shelter.com firstname.lastname@example.org Bailey.Webb@cassidyturley.com