13 Sep IDI Logistics Continues to Grow in New Jersey
Company Acquires New Land Site in Somerset After Recent Lease and Acquisition Activity
(ATLANTA, GA – September 13, 2022) IDI Logistics, a leading developer and manager of logistics real estate, has acquired a site consisting of two land parcels on Davidson Avenue in Somerset, New Jersey totaling approximately 13 acres. IDIL plans to redevelop the site into a state-of-the-art warehouse/distribution building. Both parcels are currently encumbered by existing buildings.
Somerset has seen significant interest over the past few years from both institutional investors and industrial users, which has helped reinforce the location as an established industrial submarket.
“This site’s proximity to I-287, one of the New Jersey’s major highway systems, and its access to a deep and well-educated labor force make the location an ideal choice for users,” said Justin Burns, Northeast Market Officer for IDI Logistics. “Furthermore, the centralized location in New Jersey provides the opportunity for users to service customers on a local and regional basis.”
In addition to this acquisition in Somerset, IDI Logistics recently acquired land sites in Piscataway and Ewing and leased its 111KSF Passaic Logistics Center in Passaic.
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