Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, broke ground today on a three-building development in Woolwich Township, Gloucester County, New Jersey. The project will be marketed as LogistiCenter℠ at Woolwich. CBRE has been selected as the exclusive agent for the park.
Woolwich Township Mayor Vernon Marino and Deputy Mayor Natalie Matthias were in attendance, along with Dermody Properties’ East Region team.
"I wish to congratulate and thank the Dermody Properties officials for their belief in Woolwich Township, and to recognize their efforts to commence the exciting and long-awaited development of the Route 322 corridor,” said Mayor Marino. “Without continual growth and progress, such words as improvement, achievement and success have no meaning."
Once complete, the three buildings will offer 262,200 square feet, 552,585 square feet and 336,700 square feet available for lease. The Class A, state-of-the-art facilities will each feature a 36 to 40-foot clear height, build-to-suit office space, ESFR fire protection systems, 50 to 110 dock high doors, drive-in doors and ample trailer and car parking. LogistiCenter℠ at Woolwich is located at the intersection of Route 322 and Locke Avenue in Woolwich Township. Dermody Properties will make significant improvements to the intersection in conjunction with the development of the park.
LogistiCenter℠ at Woolwich is located less than two miles from Interstate-295 and less than three miles from Interstate-95. Because of its proximity to Philadelphia and Wilmington, DE, this direct highway access will allow customers to reach 33% of the U.S. population in a single day’s drive and three million people within a 40-minute drive. Surrounding national companies include Amazon, Exxon, Target, Lineage Logistics and XPO Logistics.
“The region continues to attract top-tier companies looking for Class A warehouse space that has become too rare to find or too expensive in Central and Northern New Jersey,” said Rob Borny, Partner at Dermody Properties. “We believe that Southern New Jersey will continue to flourish and we’re extremely grateful that our past success in the region has afforded us the opportunity to grow along with it.”
Mindy Lissner, Drew Green, Paul Touhey, Dan McGovern and David Gheriani of CBRE are the leasing brokers for the project.
Pictured left to right are:
James Mascaro, Senior Vice President of Development, Dermody Properties
Nicole Howard, Senior Investment Manager - East Region, Dermody Properties
Craig Frederick, Woolwich Township Committeeman
Vernon Marino, Woolwich Township Mayor
Gene Preston, Partner - East Region, Dermody Properties
Natalie Matthias, Woolwich Township Deputy Mayor
Dennis Callahan, Woolwich Township Committeeman