JLL Capital Markets facilitated a high-stakes partnership and secured $54 million in construction financing for a new, state-of-the-art industrial development in the heart of Burlington County, according to a Thursday announcement from the brokerage.
The project, known as Turnpike 5 Logistics Park, is a joint venture between NFI Real Estate—the real estate arm of the Cherry Hill-based logistics giant NFI—and Penwood Real Estate Investment Management, LLC. The construction loan was provided by Fifth Third Bancorp.
The development features two speculative Class A distribution buildings totaling 528,478 square feet. Strategically positioned at Exit 5 of the New Jersey Turnpike, the park is designed to serve as a critical link in the Northeast supply chain, offering unparalleled access to New York City and Philadelphia within a one-hour drive.
The park consists of two primary facilities:
-
Burlington Township: A 310,000-square-foot warehouse.
-
Westampton: A 218,478-square-foot warehouse.
Built for modern logistics
With construction already underway and slated for a late spring 2026 completion, the facilities are engineered to meet the rigorous demands of 21st-century e-commerce and 3PL (third-party logistics) users.
| Feature | Specification |
| Ceiling Height | 36-foot clear heights for maximized vertical storage. |
| Loading | Single-side load configurations with abundant dock positions. |
| Parking | Extensive trailer parking stalls to support high-turnover operations. |
| Power | Heavy power capacity for automation and cold storage potential. |
| Accessibility | Signalized ingress/egress directly onto Irick Road. |
The collaboration marks a significant alignment between NFI’s deep operational roots as one of the nation’s largest supply chain providers and Penwood’s institutional investment expertise.
“NFI is excited to add such a dynamic, entrepreneurial investor in Penwood as a new partner,” said Michael Landsburg, Chief Investment Officer for NFI. “These buildings will be well received in the market given their size, design, and immediate access to the NJ Turnpike and I-295.”
Andrew MacDonald, Senior Vice President of Acquisitions at Penwood, noted that the park is arriving at a time of “high-demand” for modern logistics assets, with the regional market serving a population of over 27 million residents within a two-hour drive.
