Last Developable Site In South Jersey Industrial Park Sells For $23.5M
A California-based hardware supplier has bought a 37-acre South Jersey property with plans for a build-to-suit warehouse.
Brighton-Best International, which specializes in screws, bolts and fasteners, spent $23.5M on the preentitled site at 200 Crossroads Blvd., the Philadelphia Business Journal reported.
Greek Real Estate Partners previously owned the parcel alongside Advance Realty Investors and Torchlight Investors. GREP's construction arm has been tapped to build the 190K SF warehouse in the Logan North Industrial Park.
BBI will move its operations from Sayreville to the Gloucester County site once the new building is complete. It is expected to deliver in the first quarter of 2027.
It will sit on the last developable parcel in the 2.5M SF Logan North complex, where GREP has constructed six buildings, four of which are fully occupied.
Target has a 1.1M SF distribution center in the park that sold for $265M in 2021, PBJ reported. Other occupants include last-mile delivery company OnTrac and cold storage firm Lineage.
GREP Managing Partner David Greek is particularly bullish on cold storage, a sector that has experienced strong demand in the greater Philly region. Logan North is 20 miles from the Port of Philadelphia, the largest refrigerated port in the nation.
South Jersey’s industrial sector had 12.3% vacancy at the end of 2025, which was higher than the 10.5% seen across the river in Southeast Pennsylvania, according to CBRE's fourth-quarter report.
But South Jersey recorded positive industrial absorption of nearly 2.3M SF in 2025, while move-outs in Southeast Pennsylvania outpaced move-ins by more than 1.6M SF.
Last month, EQT Real Estate spent $309M on a nine-building South Jersey industrial property spanning about 2M SF. The Forest Park Corporate Center in West Deptford overlooks I-295.
