Commercial real estate services firm Avison Young and institutional fund Alcamo Capital held a ribbon-cutting event in December to commemorate the latter’s 261,646-square-foot warehouse and light manufacturing facility, the Lawrence Logistics Center, located at 40 Enterprise Avenue in Lawrence Township.
According to a press release, its opening marks “the first new building in New Jersey developed by Alcamo Capital” and is intended not only to “tap into the growing local industrial market” but also “to bring meaningful employment to the area.”
Avison Young was hired to market the facility in February 2023 and is now overseeing the leasing of the property, while Fairfield company RC Anderson served as the industrial general contractor.
The partnered effort replaces the former “blighted brownfield site” of eight abandoned buildings with a modernized, high-quality structure that “represents ongoing economic and real estate market trends toward demand for modern e-commerce and logistics facilities.”
Owners Vin Basile, Lara Basile, and Anthony Basile attended the opening alongside Alcamo’s Jonathan Fox, Avison Young principals Timothy Cadigan and Matthew Turse, as well as RC Anderson’s Matt Tracy, Brian Summers, and Jerrell Kerzetski. Other notable attendees included Lawrence Township Council member James Kownacki and Lawrence Township municipal manager Kevin Nerwinski.
“We’re thrilled to open this property, which allows Alcamo to maximize the site’s potential and provide the community with greater employment and revenue opportunities,” Cadigan says in a quote. “It’s great to work with a sophisticated client who recognizes the economic growth potential in our local market.”
More: www.avisonyoung.us.
