New Jersey developer J.G. Petrucci Company and its private equity partner Cabot Properties are teaming up again for a series of commercial real estate ventures, reports Real Estate Weekly. JLL Capital Markets, which cultivated the collaboration between the two businesses in the past, has again united them for the local projects.
JLL announced the acquisition of a 18.31-acre land site and the development of a 225,000-sq.-ft. light/bulk distribution industrial facility in Fairless Hills. It expects this project to finish this year.
This trio of business visionaries is also driving a 318,440-sq.-ft. speculative industrial facility in nearby Northampton County. This Lehigh Valley facility will feature:
- A 36-foot clear height
- 39 dock-high loading positions
- Two drive-in doors
- 54 trailer positions
- Early Suppression Fast Response (ESFR) fire protection
- LED lighting
- Ample employee parking
A single-tenant speculative industrial site in Souderton is also in the works. It, too, is prepping for a 2021 ribbon cutting.
More information on these projects is at Real Estate Weekly.