MORRISTOWN, NJ (SBN) — Dermody Properties, which develops warehouses across the country, is acquiring two parcels of land in Lumberton and Mt. Laurel, Burlington County, where it will build new distribution facilities under its LogistiCenter℠ brand. The two sites will add about 600,000 square feet of warehouse space in the county.
LogistiCenter℠ at Lumberton is a planned, 429,200-square-foot logistics facility located on 40.5 acres at 1791 Route 38. Site work is underway and the building is expected to be completed by March 2024. The LEED-certified logistics facility will include two drive-in doors, 58 dock high doors, a 36’ clear height and build-to-suit office space. The building’s 56 trailer parking stalls are also expandable to 228 total parking stalls.
LogistiCenter℠ at Mt. Laurel is a planned, 190,470-square-foot logistics facility on 31 acres at 2001 Briggs Road. Construction is set to commence in Fall 2023 and be completed by Fall 2024. The location offers convenient access to I-295 as well as the Center City District of Philadelphia, giving it a competitive advantage over other industrial facilities in the area.
“In such a challenging market, we feel very fortunate to be in a position to acquire properties such as these and expand our footprint within New Jersey,” said Rob Borny, East Region Partner at Dermody Properties. “Both projects will be state-of-the-art, Class A facilities that offer prime access to New Jersey’s strong labor pool, which is one of the most important factors for companies looking for warehouse and distribution space.”
In the past five years, Burlington County has been one of the most active submarkets in New Jersey with regard to leasing activity. This location is ideal for distribution to more than one third of the U.S. population within a one-day drive.
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey.
Steve Lubetkin is the news director for StateBroadcastNews.com. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. He refocused on multimedia journalism and podcast production after a long career in corporate branded journalism and public relations.
He has won numerous awards for his audio and video news reporting from the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced a wide range of audio and video podcasts in his other role as managing partner of State Broadcast News’s parent, The Lubetkin Media Companies.
Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional.
In March 2021, he was elected to the board of directors of the New Jersey Chapter of the Society of Professional Journalists, and in July 2021 he was named secretary of the chapter. In August 2021, he was honored by SPJ with one of the organization’s 2021 Howard S. Dubin Outstanding Pro Member Awards, given to regular members of an SPJ chapter who go above and beyond in serving their chapter.
Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996.
Steve also has reported on-camera and produces virtual conferences for NJSpotlightNews.org, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC.
From May-November 2019, he produced and reported a weekly podcast, The CRE News Hour, a news and features program focusing on the commercial real estate industry.
From 2014 to 2019 he was New Jersey and Philadelphia editor for GlobeSt.com and filled in covering Chicago/Midwest and Atlanta.
Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies.
Earlier in his career, Steve reported on rock music at the Jersey Shore for the Asbury Park Press, and was a broadcast news anchor and production engineer for WJLK-AM & FM, then owned by the Press. He also worked as a general assignment reporter for the Red Bank Register, Shrewsbury, NJ.
You can email Steve at steve@statebroadcastnews.com.
