By Michelle Stockner
An industrial project in Burlington County, New Jersey, being developed by Sansone Group and a real estate fund advised by Crow Holdings Capital has reached a construction milestone.
The walls have been tilted at the 702,450-square-foot Tac Pal Logistics Center. The last-mile distribution facility is set to be substantially complete and ready for occupancy this upcoming September.
Tac Pal Logistics Center is located on Route 73 in Palmyra with direct access to Route 130, Interstate 95 and the New Jersey Turnpike. The facility will feature 40-foot clear heights, 107 loading docks, 240 trailer stalls and 499 car stalls. It is currently the only vacant industrial building available over 500,000 square feet within a 30-minute drive of the site and will “provide a rare opportunity to operate in a key northeastern market where only outdated buildings exist,” according to a joint press release from Avison Young and Cushman & Wakefield.
“There is an overwhelming demand for industrial assets in Burlington County, as is evident from its current 5.8% vacancy rate,” Matthew Marshall with Avison Young said in the release. “Tac Pal Logistics Center will offer occupiers and user-buyers over 700,000 square feet of newly constructed space in a market with virtually no industrial availability.”
Marshall, along with Avison Young’s Jack Owens, are working alongside Cushman & Wakefield’s Charles Fern, Thomas D. Tucci and Jason Barton to market the project for lease on behalf of the owners.