TCC and CBRE Investment Management Break Ground on the Arsenal Trade Center in New Jersey
1M-SF Development Will Sit on 74 Acres in Sayreville and Include Three Class A Facilities
September 27, 2022
Trammell Crow Company (TCC), a global commercial real estate developer, and JV partner CBRE Investment Management, on behalf of a fund it manages, broke ground on the Arsenal Trade Center, a 1,077,776-square-foot, three-building industrial development in Sayreville, NJ. The 74-acre site was acquired by the JV in June 2022 and is in the heart of the Central New Jersey Industrial Market. Construction is scheduled to be completed in late 2023.
“We’re proud to celebrate this exciting milestone with our partners at Trammell Crow as this development is designed to meet the critical demand for high-quality, well-located logistics spaces in one of the nation’s busiest logistics corridors,” said Mary Lang, Head of Americas Direct Logistics Strategies for CBRE Investment Management. “Once completed, we believe that the Arsenal Trade Center will effectively meet the needs of key occupiers in the region and become a central hub for their modern logistics strategies.”
Arsenal Trade Center’s three buildings, all rear-loaded facilities, will span 284,341 square feet, 341,833 square feet and 451,602 square feet, respectively. Each building offers above-standard car and trailer parking, 40’ clear heights, full-site circulation, and multiple points of ingress and egress. The project’s proximity to major transportation arteries, such as the New Jersey Turnpike and Garden State Parkway, allows for efficient access throughout the NY/NJ Metro.
“The Central New Jersey Industrial Market continues to be an area that benefits from rising demand for Class A logistics space. Tenants recognize the central location that this market offers, providing access to more than two million people within a 30-minute drive and with it, some of the country’s most talented pools of labor,” said Andrew Mele, Managing Director of TCC’s Northeast Metro office. “The size, scale and high-quality design of Arsenal Trade Center are unique attributes in this market that we believe will be attractive to today’s modern logistics user. We look forward to our continued partnership with CBRE IM and CBRE and to delivering Arsenal to the market next year.”
KSS Architects is designing the Arsenal Trade Center, and RC Andersen is acting as the general contractor. The CBRE team of Thomas F. Monahan, Larry Schiffenhaus, Stephen D’Amato and Ben Shapiro are marketing and leasing the property.
Located at 50 South Minisink Road, Arsenal Trade Center is four miles east of the NJ Turnpike. The site is within an hour’s drive of New York City and a day’s drive of more than one-third of the U.S. population. The location affords tenants easy access to the NJ Turnpike (I-95) via exits 9, 10 and 11.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $146.9 billion in assets under management* as of June 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.
About Trammell Crow Company
Trammell Crow Company (TCC) is a leading commercial real estate developer and an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of June 30, 2022, TCC had $19.3 billion of projects in process and $11.5 billion in its pipeline. It employs 700 professionals in 26 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.