Introduction
Industrial Real Estate in Linden: Leaders from Chicago-based industrial real estate developer CenterPoint Properties recently joined officials from third-party logistics company CODA Logistics & Distribution and the City of Linden, New Jersey, at the grand opening of CODA’s new headquarters.
In a transformative move for the industrial landscape of Linden, New Jersey, CenterPoint Properties and CODA Logistics & Distribution have come together to unveil a groundbreaking development that not only revitalizes a once-obsolete retail center but also sets a new standard for state-of-the-art distribution facilities. This article delves into the significant milestones, key features, and overarching impact of this monumental project.
A Visionary Initiative Industrial Real Estate in Linden
CenterPoint Properties, a Chicago-based Industrial real estate developer, embarked on an ambitious journey just over a year ago with the groundbreaking of a 321,765-square-foot distribution facility at 1501 W. Edgar Road in Linden. The site, previously occupied by a deteriorating retail power center, underwent a remarkable transformation under CenterPoint’s stewardship,
CODA Logistics & Distribution: A Strategic Partnership
March 2023 marked a pivotal moment as CODA Logistics & Distribution preleased the new facility, signaling a strategic move to elevate its operational capacity. Facilitating this partnership were industry-leading professionals: Cushman and Wakefield’s team spearheaded CenterPoint’s leasing endeavors, while Michael Kimmel at KBC Advisors represented CODA, ensuring a seamless transition into their new headquarters.
Setting a New Benchmark in Infrastructure
The completed development stands as a testament to meticulous planning and Innovation. Boasting a 40-foot clear height, 64 high-door counts, including 2 drive-up. ramps, and parking accommodations for 89 trailers and 250 cars, the facility offers unparalleled operational efficiency and scalability for CODA.
Sustainability at the Forefront
CenterPoint’s commitment to sustainability shines through in the incorporation of eco-friendly features. The facility’s LEED-Silver certification from the US Green Building Council underscores its environmentally conscious design, including provisions for electric vehicle charging and rooftop solar panels, aligning with the collective vision for a greener future.
Leadership Perspective: Ronel Borner and Marie Costa
Ronel Borner, CenterPoint’s senior vice president of development in the East Region. reflects on the project’s fruition as “a great outcome for all stakeholders Involved. His sentiments are echoed by Marie Costa, president of CODA, who highlights the unwavering dedication of her team in navigating the complexities of the logistics Industry.
Economic Implications for Linden
Mayor Derek Armstead of Linden emphasizes the profound economic implications of this development. With projected tax revenues expected to nearly double over the next three decades, the initiative not only bolsters the city’s financial prospects but also underscores its commitment to responsible growth and development.
Conclusion: Industrial Real Estate in Linden
The collaboration between CenterPoint Properties and CODA Logistics & Distribution stands as a testament to the transformative power of strategic partnerships and visionary leadership. As the industrial landscape of Linden, New Jersey, undergoes a profound metamorphosis, this groundbreaking project sets a new benchmark for excellence in industrial real estate development.
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Frequently Asked Questions (FAQs)
1. What is the size of the new headquarters?
The new headquarters spans 321,765 square feet.
2. Who represented CenterPoint and CODA in leasing negotiations?
Cushman and Wakefield’s team represented CenterPoint, while KBC Advisors represented CODA.
3. What are some of the facility’s upgrades?
Upgrades include a higher clear height, increased parking capacity, and sustainable features like electric vehicle charging capability and rooftop solar panels.
4. How will the new development benefit the City of Linden?
The new development is expected to nearly double the city’s projected tax revenues over the next 30 years, contributing to economic growth and sustainability.
5. What are CODA’s plans?
CODA aims to triple its size over the next five years, leveraging the new headquarters to drive expansion and innovation.