Construction Underway on Duke Realty Spec Development in Piscataway, New Jersey
Development Will Provide Logistics Space in High-Demand New Jersey Turnpike Corridor
The New Jersey office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces that it has started construction on a 216,892-square-foot speculative development in Piscataway, New Jersey. The facility is being built on a 21-acre site at 1570 South Washington Avenue with immediate access to I-287 and only six miles from I-95 and Exit 10.
“We continue to see high demand for industrial space with leasing volume in Northern New Jersey at all-time highs,” said Ben Rosen, vice president of development and leasing in New Jersey for Duke Realty. “Finding strategically-located sites and moving quickly on developments is key to giving our clients the space they need right now. Duke Realty continues to invest in expanding our New Jersey portfolio with high-quality facilities that support our reputation.”
Duke Realty is constructing the modern logistics warehouse with 40-foot clear height, 34 dock doors, 38 trailer spaces and parking for 125 cars and estimated completion of Fall 2022. The facility is being built to LEED® certification standards. The development site is strategically located near the New Jersey Turnpike, just minutes from Newark Liberty International Airport, the ports of New York and New Jersey and New York City.
“This latest development will provide the ideal space for companies looking to expand their supply chain in the New York metropolitan area with access to millions of consumers and critical ports,” added Rosen. “This is our third development in Piscataway Township and we greatly appreciate the Township’s efforts to make this development possible.”
Noah Balanoff and Jacquelyn Severino with Colliers represented Duke Realty on the land acquisition and continue to represent the company on leasing opportunities.
About Duke Realty
Duke Realty owns and operates approximately 162.4 million rentable square feet of industrial assets in 19 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500 Index. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook, Instagram and YouTube.
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