Avison Young arranges YesWay Logistics expansion into 252,000sf space at Tac Pal Logistics Center
July 10, 2023
Deal highlights third party logistics centers as the regional industrial lease driver for spaces 250,000+-sf
Philadelphia, PA – Avison Young has negotiated a new lease on behalf of a real estate fund advised by Crow Holdings Capital for 252,000 square feet (sf) at the Tac-Pal Logistics Center in Palmyra, New Jersey.
“After years of hard work and perseverance, we’re thrilled to finally be able to welcome a top-quality company like YesWay to our community,” said Palmyra Mayor Gina Tait. “Job opportunities and a substantial increase in annual revenue for our residents and taxpayers for decades to come, are just a few of the reasons we’re so excited.”
The real estate fund advised by Crow Holdings Capital, the building owner, was represented by Avison Young’s Matthew Marshall, Principal, Jim Scott, Principal, and Jack Owens, Associate, who are based in the firm’s Philadelphia office, and Chuck Fern with Cushman & Wakefield, co-broker on the listing. The tenant, YesWay Logistics, was represented by Jason Barton, Executive Vice President with Cushman & Wakefield in Edison, New Jersey.
“The YesWay Logistics transaction is significant for the Tac-Pal Logistics Center and the Borough of Palmyra, as the industrial master-planned development was always envisioned to be a significant source of economic development for the community”, said Marshall.
With state-of-the-art warehousing and fulfillment facilities located at key points within the State of New Jersey, YesWay empowers its partners through a suite of advanced commerce solutions that go beyond mere storage services. “None of this would have been possible without our redevelopment partners Sansone, and the team at Crow Holdings Capital,” continued Tait. “We’re thrilled to be working with them, and we thank them for helping make this a reality.”
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Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697