Rockefeller Group Breaks Ground on 1.1 MSF New Jersey Campus
Sumitomo Mitsui Trust Bank provided a $114.8 million construction loan for this project.
Rockefeller Group has started construction on Rockefeller Group Logistics Center at Carneys Point, a two-building, more than 1.1 million-square-foot campus in Carneys Point, N.J. This marks the company’s second industrial project in Southern Jersey, following the development of a 345,600-square-foot warehouse in Mount Holly, N.J.
Sumitomo Mitsui Trust Bank provided a $114.8 million construction financing for the project, CommercialEdge data shows.
Partners on the development include M + H Architects and civil engineer Langan Engineering & Environmental Services, while FCL Builders serves as general contractor. Slated for completion in early 2025, the project features significant infrastructure enhancements that will benefit the region.
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The developer consolidated the 141-acre site from 13 distinct parcels acquired from 11 different sellers, completing the purchase in 2022. Curran Commercial President Ryan Curran represented the buyer in the transactions and land assemblage.
A well-located industrial campus
The 596,443-square-foot Building A will feature 127 dock-high loading doors and four drive-in doors, together with 122 trailer stalls and 363 parking spaces. Building B will measure 530,000 square feet and have 118 dock loading doors, four drive-in doors, 295 car spots and 206 trailers spaces.
Both warehouses are set to feature 40-foot clear heights, 60-foot bay spacing and 10,000 square feet of speculative office space. CBRE Senior Vice President Drew Green, Vice Chair Thomas F. Monahan, along with Executive Vice Presidents Larry Schiffenhaus and Brian Golden, are conducting the leasing efforts.
The campus is rising at 37 Forest Lane, the location providing easy access to Interstate 295 and Highway 40. Downtown Philadelphia is 34 miles away, while Port of Wilmington is within 15 miles. The site is also less than 24 miles from the Philadelphia International Airport.
Rockefeller’s industrial expansion across the U.S.
Rockefeller Group currently has 16 industrial projects under development across the U.S., totaling some 6 million square feet. The company has delivered 38 logistics properties since its inception.
Last month, Rockefeller Group and PCCP LLC obtained $100.2 million in construction financing for the development of Rockefeller Logistics Center on the Boulevard, a two-building, 656,904-square-foot industrial campus in Northeast Philadelphia. The speculative project broke ground in December and is anticipated to come online in 2025.
In November, the company partnered with Matan Cos. to develop a 5 million-square-foot logistics center in Suffolk, Va. The $300 million project will come online in multiple phases, the first one to comprise 2.4 million square feet across five buildings.
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