The Linden Logistics Center
The City of Linden
The Linden Logistics Center is the largest industrial development in the port of New York/New Jersey region. On June 2, 2023, Advanced Greek won the impact award in the Industrial Project category at United Way of North New Jersey’s Legacy Event. They were given the award for their lease at the Linden Logistics Center, located in Linden for a 735,200 square-foot lease with the multinational electronics manufacturer Samsung. The successful leasing at the Linden Logistic Center speaks volumes about demand for strategically located warehouses in New Jersey and the ability to deliver true economic value.
“This property remained abandoned for decades. Linden has embraced this developer with open arms, given the economic impact this development can provide not only to the City, but to the entire region with jobs. What makes this development even more attractive is that the City is projected to receive over $200 million in taxes over the 30-year PILOT program.” said Mayor Derek Armstead.
On June 7th, Mayor Armstead and Advance Greek completed a tour of some of these warehouses to celebrate Advanced Greek’s achievement. Cushman & Wakefield served as the exclusive advisor to Advance Realty Investors and Greek Development arranging $235,000,000 of permanent financing for Buildings E and G at Linden Logistics Center, located at 600 Linden Logistics Way in Linden. Greek Development partnered with Advance Realty and PGIM to develop the former Dupont and GAF plants that were abandoned in the Tremley Point section of Linden for decades.
The overall size of the development includes seven warehouses, which is approximately 4.1 million square-feet. Other tenants include Peloton, World Distribution Services, and Vanguard Logistics. There are currently three buildings left to lease, which are 1.3 million square feet in total size. This project will generate over 3,000 jobs once complete. The City of Linden is providing economic development in order to create jobs, and improve the industries and communities overall. The developer also has ambitions of having approximately six warehouses with solar panels.
David Greek, one of the principals for Greek Development said, “This project took many years of planning and capital but we’re finally here. We were always confident that this would be a successful project, given the increase in market share in the E-Commerce market demand would be what it is in the last couple years.”
