Advance Realty and Greek Development have acquired a 350-acre tract of land in Linden. With limited opportunities in high-barrier to entry markets such as Northern New Jersey, the developers expect to satisfy the requirements of modern distribution tenants and e-commerce users in search of Class A warehouse space.
Located off Tremley Point Road, the development tract comprises several contiguous parcels in a location that provides exceptional access to one of the world's most concentrated and affluent customer bases. Additionally, the property is situated within the Port submarket, just 10 miles from the Port of New York and New Jersey, the largest port on the East Coast and the third-largest port in the United States. Shippers can reach 100 million consumers within a day's departure.
CBRE teams led by Mindy Lissner, Jeffrey Babikian, William Waxman, and Thomas Sullivan represented the sellers in the transaction. Camber Real Estate Partners and Cushman & Wakefield served in an advisory capacity to the buyer group.