NEW JERSEY—is underway to add 36 dock doors at the I-78 Logistics Center at 111 Cokesbury Road in Clinton. Additional capital improvements include upgrading the lighting, HVAC and sprinkler systems.
Woodmont Industrial Partners L.L.C. and AEW Capital Management L.P (AEW) recently formed anplatform to acquire industrial properties in seaport and inland port markets in the Eastern U.S. The venture acquired I-78 Logistics Center in the first quarter of this year.
With the additional 36 dock doors, the building will have a total of 84 doors, which equates to one door per 8,700 sq. ft. of building area.
“Modern distribution buildings typically have one door per 10,000 sq. ft.,” said Gene Preston, managing principal, Woodmont. “The increase in the number of dock doors will enhance the functionality of the building to help meet the increased distribution needs for companies that distribute products throughout the Northeast.”
Built in 1978 and renovated in 1997, the 729,000-sq.-ft. I-78 Logistics Center sits on a 100-acre tract of land located off of exit 20B along Interstate 78. The property is 40 miles west of the Ports of Newark and Elizabeth and in close proximity to New York City, NewarkAirport, the Lehigh Valley and Philadelphia.
The facility offers 10,000 sq. ft. of finished office space, a 24-ft. clear ceiling height in the original 360,000-sq.-ft. section and a 35-ft. clear ceiling height in the 369,000-sq.-ft. new section.
Jones Lang LaSalle (JLL) has been hired as the exclusive leasing agent for the property, which is currently vacant.