Trammell Crow Co. JV announces 1msf industrial development in New Jersey
Trammell Crow Company (TCC) with its joint venture partner CBRE Investment Management, on behalf of a fund it manages, announced plans for Arsenal Trade Center, a 1.1-million-square-foot industrial development in Sayreville, N.J.
The financial terms were not disclosed; however, the seller was Hercules, an affiliate of Ashland.
The 74-acre site, located at 50 South Minisink Road, is just four miles east of the NJ Turnpike in the heart of the Central New Jersey Industrial Market. Construction on the three-building project is slated to begin this summer, with completion scheduled for late 2023.
“Arsenal Trade Center represents a unique opportunity to deliver a world-class logistics park in one of the most sought-after markets in the United States. Projects of this scale, design quality and strategic location simply do not come along often,” said Andrew Mele, managing director of TCC’s Northeast Metro office. “We are pleased to partner with CBRE Investment M