CBRE, Trammell Crow break floor on 74-acre industrial growth web site in Sayreville – ROI-NJ.com

Trammell Crow Co. and its three way partnership companion, CBRE Investment Management, on Tuesday stated they broke floor on the previously announced Arsenal Commerce Heart, a 1.078 million-square-foot, three-building industrial growth in Sayreville.

The 74-acre web site was acquired by the JV in June 2022 and is within the coronary heart of the Central New Jersey Industrial Market. Development is scheduled to be accomplished in late 2023.

Positioned at 50 S. Minisink Highway, Arsenal Commerce Heart is 4 miles east of the New Jersey Turnpike. The location is inside an hour’s drive of New York Metropolis and a day’s drive of greater than one-third of the U.S. inhabitants. The situation affords tenants easy accessibility to the Turnpike by way of exits 9, 10 and 11.

TCC and CBRE IM hosted a groundbreaking occasion for the event earlier this month. On the occasion, TCC additionally introduced a $100,000 donation to close by Middlesex College, which shall be designated as scholarships for college kids majoring in structure and engineering, building, provide chain or logistics. The donation may even be used as a workforce grant for college kids looking for certificates coaching in building, provide chain or logistics.

“The Central New Jersey Industrial Market continues to be an space that advantages from rising demand for Class A logistics house. Tenants acknowledge the central location that this market affords, offering entry to greater than 2 million folks inside a 30-minute drive and, with it, among the nation’s most gifted swimming pools of labor,” Andrew Mele, managing director of TCC’s Northeast Metro workplace, said. “The scale, scale and high-quality design of Arsenal Commerce Heart are distinctive attributes on this market that we imagine shall be engaging to immediately’s trendy logistics person. We look ahead to our continued partnership with CBRE IM and CBRE and to delivering Arsenal to the market subsequent yr.”

Arsenal Commerce Heart’s three buildings, all rear-loaded services, will span 284,341 sq. ft, 341,833 sq. ft and 451,602 sq. ft, respectively. Every constructing affords above-standard automobile and trailer parking, 40-foot clear heights, full-site circulation and a number of factors of ingress and egress. The undertaking’s proximity to main transportation arteries, such because the Turnpike and Backyard State Parkway, permits for environment friendly entry all through the New York/New Jersey metro area.

“We’re proud to have fun this thrilling milestone with our companions at Trammell Crow, as this growth is designed to satisfy the important demand for high-quality, well-located logistics areas in one of many nation’s busiest logistics corridors,” Mary Lang, head of Americas direct logistics methods for CBRE Funding Administration, said. “As soon as accomplished, we imagine that the Arsenal Commerce Heart will successfully meet the wants of key occupiers within the area and turn into a central hub for his or her trendy logistics methods.”

KSS Architects is designing the Arsenal Commerce Heart, and RC Andersen is appearing as the final contractor. The CBRE crew of Thomas Monahan, Larry Schiffenhaus, Stephen D’Amato and Ben Shapiro are advertising and leasing the property.