Two years after the entitled land sold, EQT acquired South Jersey industrial complex Salem Commerce Park in Carney’s Point.

CBRE said March 12 it completed the sale of the fully approved, three-building Class A property. EQT acquired the 707,400-square-foot development site from D2 Collins LLC, an affiliate of the D2 Organization. CBRE did not disclose financial terms.

The site offers a strategic location as a logistics hub for regional – and local Philadelphia-metro – distribution. Situated at Exit 4 at the Interstate 295 and Highway 48 Interchange, it also boasts nearby turnpike access. The Salem County site is 4 miles from the Delaware Memorial Bridge.

The assemblage includes:

• Three vacant parcels ( 3, 4 and 7 Collins Drive) totaling 35 acres;
• One 10-acre parcel (1 Collins Drive) with a now vacant 78,000-square-foot office building.

Desirable market

CBRE Vice Chairmen Brian Fiumara and Brad Ruppel led the marketing campaign and represented the seller. The site was marketed for sale or lease.

“We are thrilled to have completed this transaction as it will advance the development of a Class-A modern logistics park in a market with excellent fundamentals,” commented Fiumara. “The future of the site is in great hands with EQT, one of the leading investors in industrial and logistics properties in the nation.”

Wolf Commercial Real Estate noted South Jersey’s evolving dynamics in its fourth quarter 2024 report. According to the report, Class A and Class B properties now compose a quarter of the total footprint (up from 20% in 2020). “The influx of newly constructed inventory is expected to continue raising the average market price, especially as these properties change hands over time,” WCRE wrote.

When D2 acquired the site in 2023 it marked the end of the Delaware River and Bay Authority’s ownership of the complex. At the time, then DRPA Deputy Executive Stephen Williams said, “The timing and conditions are right for the private sector to take over and move it forward,” adding, “It’s always been the agency’s intention to make this transition at some point.”