Black Creek Group to Build 575,000 SF Industrial Park in New Jersey

A fund managed by Black Creek Group, a real estate investment firm that was recently acquired by a subsidiary of Ares Management Corporation (NYSE: ARES), has started construction on Innovation Park at Exit 8.

A fund managed by Black Creek Group, a real estate investment firm that was recently acquired by a subsidiary of Ares Management Corporation (NYSE: ARES), has started construction on Innovation Park at Exit 8, a two-building 575,000-square-foot industrial park located in East Windsor, New Jersey near the New Jersey Turnpike.

“We are thrilled to break ground on this project as we continue to see strong demand for modern logistics facilities,” said Dave Fazekas, partner and chief investment officer industrial of the Ares Real Estate Group. “With the park being located in one of the top consumer markets in the Eastern U.S., the facilities will be ideal for advanced manufacturing, assembly, distribution, technology and pharmaceutical tenants.”

Building A will total 407,000 square feet with 40-foot clear height, 40 dock doors, 317 car parking spaces and 67 trailer parking spaces.

Building B will total 168,000 square feet with 36-foot clear height, 25 dock doors and 161 car parking spaces.

CBRE’s Mindy Lissner, who is part of the team handling the leasing at the business park, said that there is “great interest from a wide array of end-users” including “high-end tech and pharma-type” prospects.

Peak Construction Corporation is the general contractor on the project, and Trammell Crow Company is the development manager.

The project is slated for completion in the fourth quarter of 2021.

Black Creek Group sponsors non-traded alternative investment offerings across the industrial, multifamily, office and retail sectors for both institutional and wealth management channels. Over its more than 25-year history, the company has bought or built more than $23 billion of investments. As of March 31, 2021, the firm had a national footprint of 75.8 million square feet across 31 U.S. markets, including properties under control and development.

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