+/-702,450 square foot industrial infill development available for lease or sale
Sansone Group, a full-service commercial real estate firm out of St. Louis, Mo., and a private equity real estate fund advised by Crow Holdings Capital, a leading national real estate investment management company, have exclusively engaged Avison Young of Philadelphia and Cushman & Wakefield as owner’s agents for the newly branded Tac-Pal Logistics Center.
Chuck Fern, Vice Chairman with Cushman & Wakefield, and Matthew Marshall, Principal with Avison Young, are heading the assignment to lease approximately 702,450 square feet (SF) of class A warehouse/distribution facilities.
“Unprecedented demand for infill distribution and logistics space is driving strong absorption and rent growth, and these large warehouse sites are now the asset class with the highest value appreciation,” Marshall said. “We’re confident the Tac-Pal Logistics Center will draw tremendous interest from a wide variety of end-users and tenants.”
Tac-Pal’s superior accessibility to both the Philadelphia and New York metropolitan areas, as well as its high-income demographics, make it highly desirable. Since 2020, more than 90% of new industrial space delivered within Burlington County has been either pre-leased or leased within three months of being constructed.
Developed by Sansone Group and Crow Holdings Capital, the proposed master-planned industrial site will consist of one 702,450 SF building with modern design and build-to-suit opportunities.
With only one vacant industrial building available over 500,000 square feet within a 30-minute drive of the site, the unique infill location provides an opportunity to develop a state-of-the-art site in a market where only outdated buildings exist. The Tac-Pal buildings are expected to deliver in the first quarter of 2022.
The newly developed logistics center will provide superior access to all major cities, ports, and modes of transportation across the Northeast. Located immediately off Interstate 295 and Exit 5 of the New Jersey Turnpike, the site is central to Philadelphia (7.5 miles), New York City (68 miles), Baltimore (112 miles), and Washington, D.C. (145 miles).
The Tac-Pal Logistics Center benefits from an extensive network of highways, including I-295, Route 130, I-95 Delaware Expressway, and the New Jersey Turnpike. Route 75 leads directly to I-95 via the Tacony Palmyra Bridge and Betsy Ross Bridge over the Delaware River. It is located just 5.3 miles from Philaport, 76 miles from the Port of Newark/Elizabeth Marine Terminal, and 112 miles from the Port of Baltimore.
“This property offers a truly unique opportunity to develop a premier site in an ideal location,” said Jeff Greenwalt, National Director of Industrial Development for Sansone Group. “We could not be more excited about the future of the Tac-Pal Logistics Center.”
About Sansone Group
Sansone Group is a nationally recognized St. Louis-based Commercial Real Estate firm specializing in property and facility management, brokerage, development, and redevelopment of retail, industrial, office, healthcare, and residential properties. Founded in 1957 by Anthony F. Sansone, Sr., his four sons lead Sansone Group as principals of the firm: James, Douglas, Nicholas, and Timothy. Contact the Sansone Group at 314.727.6664 or www.sansonegroup.com.
About Crow Holdings Capital
Crow Holdings Capital (CHC) is the real estate investment management platform of Crow Holdings, a privately-owned real estate investment and development firm with a 70-year history, $20 billion in assets under management, and a strong track record of performance, partnership and innovation. For more than 20 years, CHC has implemented value-add investment strategies in partnership with leading global investors, generating attractive returns in multifamily, industrial and niche sectors across market cycles. Led by a highly experienced leadership team, CHC manages $11 billion in real estate assets. For more information, please visit www.crowholdings.com/chc.
About Avison Young
Avison Young creates real economic, social, and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada’s Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
