Brookfield Properties to Develop 1.2 MSF Campus

Rockland Logistics Center. Image courtesy of Brookfield Properties

Brookfield Properties will develop Rockland Logistics Center, a 1.2 million-square-foot, three-building distribution campus in Suffern, N.Y. The Class A facility is expected to break ground in spring, with completion scheduled for summer 2025.

The company recently acquired the 161-acre site, the former Novartis pharmaceutical office and manufacturing facility, located in Rockland County, along Interstate 287. The lot, which stood vacant for a decade, last traded in July 2021, when Treetop Development acquired it for $52.5 million, CommercialEdge data shows. The deal was subject to a $50 million loan, originated by ACORE Capital.

According to Rockland County Business Journal, Brookfield Properties estimates the investment in Rockland Logistics Center will exceed $315 million. The campus will consist of three buildings ranging from 88,200 to 963,100 square feet and potential tenants include Fortune 500 e-commerce companies, the same source shows. The industrial complex is planned to be LEED-certified and designed with solar capacity, natural light and EV charging stations. The construction and design of the distribution campus is part of the company’s commitment to zero-net energy by 2050.

Located at 25 Old Mill Road, the development site is 36 miles from New York City, near the New Jersey and New York border. The North River Shipyard is 15 miles from the property.

Industrial development in New Jersey

South of this development site, near Exit 12 of the New Jersey Turnpike, a similar industrial project is underway. In June, Crow Goldings Development broke ground on a three-building, 1.2 million-square-foot speculative development. Last year, Brookfield Properties provided a $107.4 million loan to Lincoln Equities Group and PCCP for the acquisition and construction of a new facility within their New Jersey warehouse and distribution center.