The Millstone 8 Logistics Center, located near Exit 8 on the New Jersey Turnpike, has secured a major leasing agreement with Logistics Plus for 1 million square feet of industrial space, announced on March 27, 2025. Developed by Crow Holdings Development, this deal marks the largest in Q4 2024 and underscores the growing demand for industrial space driven by third-party logistics tenants.
South Jersey Warehouse Secures Major Logistics Tenant
The Millstone 8 Logistics Center, situated near Exit 8 on the New Jersey Turnpike, has announced a significant leasing agreement with Logistics Plus. The deal, which was disclosed on March 27, 2025, involves the leasing of a substantial 1 million square feet of industrial space.
Major Leasing Agreement at Millstone 8 Logistics Center
The Millstone 8 Logistics Center, developed by Crow Holdings Development, has successfully secured Logistics Plus as a major tenant. The logistics company has signed on for a 1 million square foot space, marking a significant expansion in the region's warehousing capabilities. This lease represents the largest deal in the fourth quarter of 2024, highlighting the growing demand for industrial space driven by third-party logistics (3PL) tenants.
Expansion of Northeast Warehousing Capabilities
The strategic location of the Millstone 8 Logistics Center, near a major transportation hub on the New Jersey Turnpike, makes it a key player in the expansion of warehousing capabilities in the Northeast. Crow Holdings Development has been instrumental in this growth, having introduced 4.2 million square feet of industrial space since 2020. This latest lease further underscores the company's commitment to enhancing the logistics infrastructure in the region.
Current Occupants and Development Initiatives
The Millstone 8 Logistics Center is not new to hosting large-scale tenants. It currently accommodates a 220,000 square foot building and a 355,000 square foot space occupied by DSV Global Transport. These developments are part of Crow Holdings' broader initiative, which includes 1 million square feet under construction across New Jersey, New York, and Pennsylvania, as well as ongoing projects at its Burlington site, identified as Crow Holdings at 6A.
Implications for the Industrial Real Estate Sector
This leasing agreement with Logistics Plus is indicative of the broader trends within the industrial real estate sector, particularly the increasing demand from 3PL tenants. As companies continue to seek out strategically located facilities to optimize their supply chains, the development of sites like the Millstone 8 Logistics Center becomes increasingly vital. The facility not only boosts the region's warehousing capacity but also supports the logistical needs of businesses operating within and beyond the Northeast corridor.
"Our latest leasing agreement at the Millstone 8 Logistics Center is a testament to the growing demand for industrial space in key locations," said a representative from Crow Holdings Development. "We are committed to supporting the expansion of logistics capabilities in this strategically important region."
As the industrial real estate market continues to evolve, developments like the Millstone 8 Logistics Center are set to play a crucial role in meeting the needs of logistics and supply chain operations. The involvement of major players such as Logistics Plus and Crow Holdings Development in these projects highlights the ongoing transformation of warehousing and distribution infrastructure across the Northeast.