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Logistics Property Co. Closes on Land Site for Newark Development
Logistics Property Company has closed on a 43-acre site in Newark, Delaware.
Located along I-95 with 1,000 feet of frontage, the development site offers immediate access to Route 1 and is strategically located near the Delaware Memorial Bridge and the Port of Wilmington. Crossroads 95 Logistics Center will total 442,530 square feet with a 36-foot clear height and ample parking.
LogiPropCo’s Northeast Development team worked with John Plower, Ryan Cottone, Zach Maguire, and Jordan Schwartz of JLL’s Northeast Industrial Capital Markets team in the acquisition. LogiPropCo has continued to grow its footprint in the Southeastern Pennsylvania Market. This land acquisition follows the nearly completed South Penn Logistics Center, a 973,000-square-foot logistics facility in Morrisville, Pennsylvania.
“We feel confident in the activity in this market and look forward to breaking ground on this new project,” said Mark Glagola, Senior Vice President of LogiPropCo’s Northeast Region. “Crossroads is an unbeatable location along I-95, where we continue to see demand for modern industrial space.”
