Advance Realty Investors has officially secured construction financing for the 249 Pomeroy Logistics Center (249 PLC), a 110,000-square-foot Class A industrial development. In tandem with the closing, the developer has appointed JLL’s Northeast Industrial team as the exclusive leasing agent for the facility, which is slated for completion in October 2026.
Located at the strategic interchange of Interstates 80 and 287, the development arrives at a critical time for New Jersey’s industrial sector, where modern, well-located space remains in high demand despite broader economic stabilization.
The project is a product of New Jersey’s Long Term Tax Exemption-Urban Renewal Entities program. By repurposing underutilized space, the development benefits from a Payment in Lieu of Taxes (PILOT) agreement with the Township of Parsippany-Troy Hills.
“This building will be unique for prospective tenants due to its direct adjacency to I-287,” Alexander Cocoziello, principal and CIO at Advance Realty Investors said. “It provides incredible marketing opportunities while boasting a long-term tax exemption that minimizes occupancy costs for our future partners.”
Designed for maximum efficiency, 249 PLC is engineered to serve logistics, distribution, or light manufacturing tenants. The facility can be configured for a single user or demised for two tenants.
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Clear Height: 36 feet
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Loading: 21 dock doors and 2 drive-in doors
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Power: 4,000 amps (market-leading capacity)
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Parking: 20 dedicated trailer stalls
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Circulation: Full counter-clockwise truck circulation for optimized flow
The Morris County industrial submarket continues to see tight fundamentals. According to JLL’s Q3 2025 analysis, the vacancy rate in New Jersey remains low at 7.6%, with a significant trend toward “flight to quality” as tenants prioritize modern Class A facilities.
David Knee, vice chairman at JLL, noted that new construction of this scale is “increasingly rare” in Northern New Jersey. The site’s proximity—just 30 minutes from Newark Liberty International Airport and Port Newark-Elizabeth—allows occupiers to bypass port-adjacent congestion while maintaining global connectivity.
The JLL team leading the marketing efforts includes David Knee, Chris Hile, Ignatius Armenia, and Ryan Milanaik.
