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Avison Young co-lists Tac-Pal Logistics Center
The 702,450-sf class-A warehouse/distribution facility is now ready for user-occupier
Philadelphia, PA – Avison Young and Cushman & Wakefield are exclusively representing the agency and project leasing for the Tac-Pal Logistics Center development site at 201 State Route 73 in Palmyra, New Jersey. The project, which broke ground in 2021 and is comprised of a 702,450-square-foot (sf) warehouse/distribution facility, is now substantially complete and ready for a user-occupier.The site was entitled by SDG Holdings, LLC and Palmyra Urban Renewal Entity, LLC (PURE). After the entitlements and approvals were granted, the redevelopment parcel was sold in 2021 to the Sansone Group of St. Louis, Missouri, and a real estate fund advised by Crow Holdings Capital based in Dallas, Texas.
Avison Young is providing landlord representation and project marketing and leasing services, with Matthew Marshall, Principal, Jim Scott, Principal, and Jack Owens, Associate, all based in the firm’s Philadelphia office leading the effort. Chuck Fern, Executive Vice Chairman in Cushman & Wakefield’s Northern New Jersey office is the co-broker.
“Tac-Pal Logistics Center will provide a much-needed supply of space in a market constrained by a shifting interest rate environment, local development barriers, and record-high construction costs,” said Marshall. “Philadelphia’s resilient industrial market closed in positive territory for 2022, and we’re confident that there will be strong interest in this well-located property and state-of the-art building design.”
Tac-Pal Logistics Center will represent one of the largest infill warehouse and distribution facilities in the Philadelphia-area industrial market. The entire development site is in a Federal Opportunity Zone.
“Once fully operational, we expect the Tac-Pal Logistics Center development to spur significant economic opportunity for the Borough of Palmyra and the surrounding Burlington County and Philadelphia metro area,” said Gina Rajamo Tate, Mayor of Palmyra Borough.
“Tac-Pal’s superior accessibility to both the Philadelphia and New York metropolitan areas, cities, ports, and transportation, as well as its abundance of labor, make it a highly desirable destination for commerce,” explains Jeff Greenwalt, National Director of Industrial Development for Sansone Group.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.
For more information:
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.
For more information:
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- Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.972.533.1396
- David Fahey, Principal and Managing Director, Philadelphia: +1.610.276.1081
- Matthew Marshall, Principal, Philadelphia: +1.610.557.0502