The Box Park Logistics Center in Cinnaminson has inked a 1.2 million-square-foot lease, according to an announcement from Logistics Property Company, a logistics real estate owner, developer and manager, with more than five million square feet of logistics facilities in the Northeast.
Performance Team, the Maersk company, will lease the building and grounds. Performance Team specializes in operations, transportation, dispatch, and conveyor mechanics.
Located in Southeastern Pennsylvania and Southern New Jersey market, the deal includes the fully leased 1,200,000 square-foot Class-A warehouse with adjacent land available for a build-to-suit facility up to 300,000 square feet. LEED Certified, with access to heavy power, the development is strategically located along U.S. Route 130, nine miles from the Port of Philadelphia.
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“This project, in size alone, was a tremendous undertaking,” Mark Glagola, senior vice president of LogiPropCo’s Northeast Region said. “We are grateful to the teams who worked on the project, including our general contractor, FCL, our brokerage team at Cushman & Wakefield, and Cinnaminson Township.
Glagola and J.C. Hay, senior vice president of asset management, were supported by Cushman & Wakefield’s John Gartland, Jonas Skovdal, Bill Waxman, Mindy Lissner and Sean Duncan in the leasing of the building. Eric Demmers of NAI Hanson served as the tenant representative.
Cushman & Wakefield also represent Logistics Property Company in leasing South Penn Logistics Center, a nearly completed 973,000-square-foot development in Morrisville, PA, approximately 20 miles from Box Park Logistics Center.
