#United States #Logistics Park #EQT Real Estate #D2 Organization #Carneys Point, NJ

D2 Organization Makes Waves in Logistics Real Estate Market

D2 Collins LLC, part of the reputable D2 Organization, proudly announced the sale of a substantial 707,400 square foot logistics park development site in Carneys Point, New Jersey, to EQT Real Estate, a prominent player in the industrial and logistics investment sector. This impactful transaction not only highlights D2's strategic vision for land investments but also presents EQT Real Estate with a golden opportunity in a flourishing market.

Tom Allman, Managing Director of Construction Development at US Industrial EQT Real Estate, shared his enthusiasm, stating, "We are very excited to partner with Carneys Point Township once again for another successful project. We appreciate the support from our invaluable partners including Carneys Point Township, D2 Organization, Marathon Engineering, Archer & Greiner, and CBRE."

The newly acquired 48-acre site is set to feature a state-of-the-art, Class-A logistics park, consisting of three substantial structures: Building A at 178,500 square feet, Building B at 254,500 square feet, and Building C at 274,400 square feet, all designed with ample car and trailer parking facilities.

Located at various addresses along Collins Drive—specifically 1, 3, 4, and 7—this site constitutes an impressive assemblage of parcels. The purchase includes three vacant pieces of land totaling 35 acres along Collins Drive and an additional 10-acre parcel at 1 Collins Drive, which houses an empty 78,000 square foot office building. The D2 Organization previously secured ownership of these properties from the Delaware River and Bay Authority in December 2022, also acquiring a nearby 3-acre residential outparcel, maximizing the potential development space to 48 acres.

During the initial phase, D2 entitled the vacant land for three Class A warehouse buildings totaling 586,000 square feet. Following the acquisition, proactive collaboration with local officials enabled D2 to receive approvals to increase the buildable area to 707,400 square feet by expanding Building C's footprint, a modification facilitated by the planned demolition of the unoccupied office building.

D2 Organization has constructed a favorable environment for the planned buildings, bolstered by an approved Payment in Lieu of Taxes (PILOT) agreement with the Township—aimed at minimizing tax burdens and operational expenses. Keith Delaney, CEO of D2 Organization, expressed his confidence, stating, "This sale affirms our faith in this sub-market and demonstrates our team’s proficiency in navigating increasingly complex entitlement processes."

Strategically poised, the Salem Commerce Park offers easy access right off Exit 4 at the intersection of Interstate 295 and Highway 48 in Carneys Point, NJ. At just 3 miles from the I-295 and New Jersey Turnpike interchange and 4 miles from the Delaware Memorial Bridge, this location is a strategic logistics hub for operations within the Philadelphia MSA and regional distribution.

The site is readily accessible within a 30-minute drive to burgeoning markets in Philadelphia, Southern New Jersey, and Northern Delaware. Additionally, companies targeting quick access to metropolitan areas such as New York City, Baltimore, and Washington, D.C. will find themselves just a two-hour drive away. Moreover, proximity to vital transportation and logistics channels, including the Port of Wilmington, Penn Terminals, Philadelphia International Airport, and Packer Marine Terminals, significantly enhances the site's appeal.

Notably, numerous bulk distribution and cold storage operators—including McLane, Amazon, Goya, US Foods, and Rivian—are situated within mere minutes of the site.

Since 2019, D2 has notably entitled over 3 million square feet of industrial developments in Salem County, NJ. During this period, rental rates for Class A industrial spaces in the region have surged, doubling from approximately $5 per square foot to over $12 per square foot.

In this transaction, CBRE's National Partners team, led by Brian Fiumara, played a pivotal role in representing D2. The Southern NJ/Eastern PA metropolitan area has emerged as the second-largest big-box region in North America, boasting a remarkable total inventory exceeding 500 million square feet.

About D2 Organization

The D2 Organization operates as a privately owned investment group with a focus on opportunistic land acquisitions and development repositioning. Including raw land, brownfields, and underperforming industrial properties, D2’s mission is dedicated to transforming overlooked assets into valuable properties that activate economic growth and enhance surrounding community life. The organization has successfully acquired and entitled over 1,000 acres of land, generating sales exceeding $200 million to institutional investors.

About EQT Real Estate

EQT is a global investment organization driven by purpose, managing assets totaling EUR 269 billion, divided into sectors including Private Capital and Real Assets. Within its Real Assets division, EQT Real Estate specializes in acquiring, developing, leasing, and managing logistics and residential properties across the Americas, Europe, and Asia. The organization operates over 2,000 properties encompassing 400 million square feet worldwide, equipped with a seasoned team of over 440 professionals spread across 50 locations.

For more information, visit D2 Organization and EQT Real Estate.