The Linden Logistics Center is a 4.1 million square foot industrial complex located in Linden, New Jersey, and it has since been completed and leased to roughly 82 percent of capacity. Advance Realty Investors and Greek Real Estate Partners secured a 300 million dollar refinancing on part of the complex in 2025, with tenants including Samsung, Peloton and World Distribution Services.

Logan North Growth Mirrors New Jersey’s Life Sciences Boom

Logan North Industrial Park has kept adding tenants too, most recently a build to suit outdoor storage deal in Gloucester County. That steady industrial demand now sits alongside a growing life sciences push, highlighted by BeOne Medicines’ 300 million dollar expansion of its Hopewell manufacturing campus, which is adding 120 jobs nearby.

Project Overview

• Project Name: Linden Logistics Center and Logan North Industrial Park
• Location: Linden Logistics Center in Linden, Union County; Logan North Industrial Park in Logan Township, Gloucester County, New Jersey
• Project Value: Originally backed by a 227 million dollar loan in 2022, with Linden Logistics Center later securing a separate 300 million dollar refinancing in 2025
• Client/Owner: Advance Realty Investors and Greek Real Estate Partners, formerly Greek Development, in partnership with PGIM Real Estate at Linden
• Key Components: Linden Logistics Center spans 4.1 million square feet across eight buildings; Logan North spans 3.2 million square feet
• Procurement Model: Privately financed industrial development, refinanced through institutional lenders as leasing progressed
• Construction Start: Original phases financed in 2022, with Linden Logistics Center fully completed by 2025
• Expected Completion: Both parks are now fully built and in active leasing, with Logan North continuing to add build to suit projects
• Strategic Impact: Anchors New Jersey’s status as one of the busiest US logistics corridors, supported by Port of New York and New Jersey traffic

Project Team

• Developer: Advance Realty Investors
• Developer: Greek Real Estate Partners
• Co-Investor: PGIM Real Estate (Linden Logistics Center)
• Financing Partner: Cushman & Wakefield, arranging 2025 refinancing

Reported 29th June 2022: Linden Logistics Center in Linden and the Logan North Industrial Park projects are set to benefit from a total of US$ 227M loan. This was revealed by Greek Development and Advance Realty collaboration.

The loan for the two Logan Township projects was secured from Wells Fargo. Of the total monies, US$ 142M will facilitate Phase III of the 1.32 million-square-foot Linden Logistics Center. This phase is made up of building 100, which is 332,635 square feet in size and Building 200, which is 516,600 square feet. It will be completed in the second quarter of 2023. The previous phase of the project, Phase II, is currently underway and expected to be completed by the end of 2022. Buildings 300, 400, and 700 are part of Phase II.

Also Read: US$ 88M Loan Secured for Journal Square Urby Project in New Jersey, USA

US$ 85M on the other hand will go towards the third phase of the 3.2 million-square-foot Logan North Industrial Park. This phase is made up of building B and building CD that are scheduled for completion in Q2 2023. These buildings’ have respective square footages of 274,200 square feet and 475,000 square feet.

Commentary on the Linden Logistics Center and Logan North Industrial Park projects

“We are thrilled to finalize these loans, despite the erratic nature of the financial markets. This validates the quality of the sponsorship and the properties we are building. It was made possible by our long-standing partnership with Advance,” said David Greek, managing partner of Greek Development.

“We’ve had success leasing Linden Logistics Center and Logan North Industrial Park. This speaks volumes about the pace of demand for strategically located warehouses in New Jersey. Moreover, it is a testament to our ability to deliver true economic value to our strategic partners and the communities we build in,” concluded Greek.

On the other hand, Alexander Cocoziello said, “We are appreciative and honored to have enduring connections with outstanding partners. The partners include the brokerage, banking, and equity capital markets sectors. We all look forward to furthering possibilities to expand together in the future.”