PHILADELPHIA, PA — D2 Collins LLC, an affiliate of the D2 Organization, has finalized the sale of a 48-acre logistics park development site in Carneys Point, NJ, to EQT Real Estate. The transaction provides EQT with a significant development opportunity in an area poised for industrial growth while solidifying D2’s reputation for strategic land investments.
The site, located at 1, 3, 4, and 7 Collins Drive within Salem Commerce Park, will feature three modern warehouse facilities totaling 707,400 square feet. The development includes ample parking for cars and trailers, with building sizes ranging from 178,500 to 274,400 square feet. D2 collaborated with local officials to optimize the project, securing approvals to expand one of the planned buildings by demolishing an existing vacant office structure.
Tom Allman, Managing Director of Construction & Development at EQT Real Estate, expressed enthusiasm about the project. “We are very excited to partner with Carneys Point Township again for another successful project. We would like to thank all of our valued partners that helped us with this transaction.”
Strategically positioned near major transportation hubs, the site lies just off Exit 4 of Interstate 295, with close proximity to the Delaware Memorial Bridge, the New Jersey Turnpike, and regional ports. Its location provides logistical advantages for companies serving the Philadelphia metropolitan area and beyond, with easy access to markets like New York, Baltimore, and Washington, D.C.
“This sale is a testament to our conviction in this sub-market and our team’s ability to execute our business plan in an increasingly challenging market to obtain entitlements,” stated Keith Delaney, CEO of the D2 Organization.
With demand for industrial and logistics properties remaining robust, the development is expected to attract occupiers in the bulk distribution and cold storage sectors, further highlighting its regional importance.
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