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F. Greek Development has purchased a 415-acre site in Logan Township from Bridgeport Disposal LLC, Cushman & Wakefield announced Thursday.The development site, located at 2858 U.S. Route 322 in Logan Township, was sold for $12 million. East Brunswick-based F. Greek Development said it intends to develop a 3 million-square-foot industrial park on the site.

“We believe this location is the best in the market, and we sought to capitalize on a fantastic opportunity to purchase a large-scale site in a region that is quickly evolving,” David Greek, who handles new development and acquisitions for F. Greek Development, said in a prepared statement. “Philadelphia is evolving as a distribution destination, and as the southern New Jersey submarket becomes more institutionalized, there is a growing need for modern Class A space in a range of sizes.

“We consider this a long-term generational asset, a perspective that differentiated us from other potential buyers. We are excited to develop this property with longtime partner Advance Realty.”

Cushman & Wakefield’s Matthew Marshall, managing director, Jeffrey Williams, managing director in Philadelphia, Timothy Cahill, director in Chicago, and Rory Murray, executive vice president in Boston, represented the seller. The buyer was represented in-house.

“(Cushman & Wakefield) did an excellent job executing this transaction,” said Bryan Girts, Bridgeport Disposal’s vice president of real estate.

The site is located on the corridor between New York City and Washington, D.C., and offers direct access to Interstate 295, Route 322 and the New Jersey Turnpike.  

Cushman & Wakefield’s Philadelphia office will assist in marketing the new Logan Industrial Park Class A distribution space.