Major Warehouse in Philadelphia Area Secured by Maersk Affiliate

According to a recent report from Cushman & Wakefield, despite a slowdown in warehouse construction, the Philadelphia area has secured a notable lease for the largest warehouse in south Jersey. Performance Team, part of Maersk’s logistics operations, has taken on a colossal 1.2 million-square-foot facility located in cinnaminson, New Jersey. This remarkable structure, known as the Box Park Logistics Center, is comparable in size to the Cherry Hill Mall and has potential for expansion up to 1.5 million square feet.

Mark Glagola, Senior Vice President at logistics Property Company—the building’s owner—expressed gratitude towards all teams involved in this ambitious project. He highlighted contributions from their general contractor FCL and brokerage team at Cushman & Wakefield as well as support from Cinnaminson Township.

Completed in 2023, this state-of-the-art warehouse boasts features like soaring 40-foot ceilings and an extensive setup with 215 dock doors and ample parking—549 spaces for cars and 216 spots for trailers. Additionally, it holds LEED certification due to its energy-efficient design.

Performance Team plans to utilize this site not just for storage but also for transportation services including conveyor systems and dispatch operations. Jason Walker, who leads Maersk Contract Logistics in North America, noted that this new facility enhances their logistics framework across the Northeast region by positioning them closer to vital transportation routes and customers while generating valuable job opportunities within the community.

Interestingly enough, even though large-scale warehouse construction is tapering off overall—evidenced by current trends—the leasing activity within Philadelphia is on an upswing with a notable increase of 23% last quarter according to Cushman & Wakefield’s findings. The vacancy rate remains stable around 9%, indicating healthy demand.

Burlington County alone offers over 53 million square feet of warehousing space strategically located near major highways such as I-95 and I-295 along with the New Jersey Turnpike. While typical warehouses average about 300,000 square feet each; larger facilities like this one continue attracting interest from key players in logistics due to their proximity to essential shipping lanes and customer bases.while some may view slowing construction rates as concerning news for real estate markets; developments like these highlight ongoing opportunities within strategic locations that cater directly toward evolving logistical needs.