Logistics Property Company Closes on 43-Acre Site in Newark for New Development
Logistics Property Company (LogiPropCo) has finalized the acquisition of a 43-acre property in Newark, Delaware, marking a strategic expansion of its industrial development footprint in the region.
The site, with 1,000 feet of frontage along I-95, offers immediate access to Route 1 and is strategically positioned near the Delaware Memorial Bridge and the Port of Wilmington. The planned development, named Crossroads 95 Logistics Center, will span 442,530 square feet and feature a 36-foot clear height, along with ample parking to support logistics and distribution operations.
The acquisition was facilitated by LogiPropCo’s Northeast Development team, who collaborated with John Plower, Ryan Cottone, Zach Maguire, and Jordan Schwartz of JLL’s Northeast Industrial Capital Markets team.
This latest investment continues LogiPropCo’s growth in the Southeastern Pennsylvania market. It follows the near completion of South Penn Logistics Center, a 973,000-square-foot facility in Morrisville, Pennsylvania.
“We feel confident in the activity in this market and look forward to breaking ground on this new project,” said Mark Glagola, Senior Vice President of LogiPropCo’s Northeast Region. “Crossroads is an unbeatable location along I-95, where we continue to see demand for modern industrial space.”
