Case Study: Piscataway Industrial Park, Piscataway, NJ

Black Creek Group Develops in New Jersey – One of the Country’s Hottest Industrial Markets

Black Creek recognizes the important difference strong local relationships make when it comes to finding and executing deals.

The need for these relationships is even more pronounced in markets like New Jersey that have more than 550 municipalities each with their own nuances and guidelines. By having a 14 person New Jersey based team, Black Creek is able to intimately understand these market characteristics and secure investments that other companies may miss.

This was the case in September 2016 when the company acquired a 43.5-acre infill land parcel in Piscataway, New Jersey. The site had remained unused for years, but Black Creek saw the opportunity for development of three bulk distribution warehouses totaling approximately 565,000 square feet.

43.5 Acre Infill Land Parcel Purchased
565,000 TOTAL SF Industrial Space Developed
100% leased 12 months ahead of schedule

Working across departments – due diligence, legal, finance, acquisitions, development and asset management – Black Creek demonstrated that it is a hands-on real estate company that understands all aspects of the business and is able to move quickly and nimbly.

Due to this, the company was able to secure the rare opportunity to construct a state-of-the-art industrial park within one of the country’s highest-barrier-to-entry industrial markets.

Excellently located on I-287 with immediate access to Route 18 and the New Jersey Turnpike, Black Creek’s industrial team was aware that there would be strong tenant demand for the buildings, especially with the limited foreseeable inventory growth. This was realized as the project was 100 percent leased 12 months ahead of schedule to six high-quality tenants better than projected rents and lease terms.

The Importance of Local Presence

With a 14-person New Jersey based team, Black Creek ensures it has the local relationships and expertise to navigate complex and nuanced real estate transactions, particularly in markets as hot as New Jersey.

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