610K-square-foot spec warehouse coming to Burlington County

A new distribution facility is set to make its debut this summer in Central Jersey, with JLL Northeast Industrial Region retained as exclusive leasing agent for the 610,000-square-foot property.

JLL announced 2020 Acquisitions retained the firm for the Mansfield assignment June 17.

Located at 5206 Route 130, JLL said the speculative project will include 123 loading docks, four drive-ins, 40-foot clear heights, an ESFR/wet sprinkler system and parking for 95 trailers and 173 cars.

According to a statement from JLL Vice Chairman Joel Lubin — who will lead the leasing team along with Executive Managing Director Brian Golden and Managing Director Gary Politi with the firm’s Northeast Industrial Region — the Burlington County site “is situated within one of the best-performing industrial markets in Central New Jersey.”

Statewide, New Jersey’s industrial vacancy rates are at their lowest in history. In its New Jersey Industrial Insights Report for the First Quarter of 2022, JLL reported a class-wide vacancy rate of 1.0% — the lowest in the market’s history. The new property, JLL said, is positioned to help meet interest from e-commerce and logistics companies that are driving that demand.

The site measures 47 acres and was earmarked for redevelopment by the Mansfield Township Committee to help create jobs and foster economic growth. It also includes a long-term PILOT application, JLL said, reducing the per-square-foot tax cost.

Efrem Gerszberg of 2020 Acquisitions echoed the ways in which the property is expected to serve as a catalyst in the area. “This new development will create new jobs and bolster the local economy while meeting market demand for standout e-commerce solutions,” he said in a statement. “We are excited to work with JLL to bring this Class A industrial development to the Central New Jersey market.”

Golden shared that excitement.

“Situated between New jersey Turnpike Exits 5 to 7, Burlington County has become one of the most-desired submarkets in the region and we are thrilled to bring this exceptional new product to market,” he said. “As scarcity of both existing inventory and larger sites to accommodate these buildings continues to frustrate the logistics sector, 5206 Route 130 provides an ideal location for last-mile and next-day delivery fulfillment activity.”

In April, Lubin, Golden and Politi were tapped to lease another new logistics facility in the state, this one nearly 200,000 square feet in Bayonne.

JLL’s Northeast Industrial Market, formed in 2017 by combining the sector’s brokerage operations across New Jersey, New York, Connecticut and Pennsylvania, comprises approximately 1.76 billion square feet of space, representing the largest industrial market in the U.S., according to JLL.