Greystar Breaks Ground on 1M-SF Big Timber Junction Logistics Park in Bellmawr, N.J.

Greystar announced Oct. 22 that it has closed on the land and broken ground on Big Timber Junction, a logistics park of more than one million square feet across three buildings in Bellmawr Borough and Deptford Township, N.J., in the Philadelphia submarket. CBRE will lead leasing for the project, which is projected for completion in January 2028.

Big Timber Junction Project Details

The development is located at 744 Creek Road in Bellmawr on a 150-acre site. The park will total approximately 1.001 million square feet of Class A industrial space. Construction is underway.

The three buildings are planned as follows:

• Building A: 406,309 square feet of cross-dock loading space, 451 feet deep with a 40-foot clear height, 93 dock doors, four drive-in doors, 155 trailer parking spaces and 302 car parking spaces.
• Building B: 345,272 square feet of front-loading space, 325 feet deep with a 36-foot clear height, 55 dock doors, two drive-in doors, 36 trailer parking spaces and 314 car parking spaces.
• Building C: 249,429 square feet of front-loading space, 332 feet deep with a 36-foot clear height, 45 dock doors, two drive-in doors and 215 car parking spaces.

All three buildings will have ESFR sprinkler systems and will be delivered with 2,135 square feet of office space, with the ability to add more.

Location and Transportation Access

Big Timber Junction sits at the convergence of I-295, NJ-42 and the New Jersey Turnpike, with immediate connections to I-76 and I-95. The site is close to Philadelphia's Center City, the Port of Philadelphia and Philadelphia International Airport, and Greystar said it provides same-day reach to the Philadelphia metropolitan area and the broader Northeast Corridor, including the Port of New York and New Jersey.

"Greystar is excited to bring approximately one million square feet of Class A industrial space to southern New Jersey," said George Hayward, Managing Director for Development at Greystar. He said the development's location within one of the region's key transportation corridors positions it to serve a diverse range of logistics users, from regional distribution and last-mile fulfillment to port-related operations. The project also includes planned infrastructure improvements and a new public waterfront park, according to the announcement.

Chuck Sauter, mayor of Bellmawr Borough, said the redevelopment would transform underutilized property into a productive asset. "We welcome Greystar's investment and look forward to working collaboratively to ensure that this project delivers lasting benefits for our residents, our local economy, and future generations," Sauter said.

Philadelphia Industrial Market Context

The project is entering a Greater Philadelphia industrial market that is stabilizing but still carries elevated vacancy. Colliers reported that Philadelphia-area vacancy declined to 9.52% in the second quarter of 2026, with approximately 5.75 million square feet under construction and asking rents averaging $11.14 per square foot on a triple-net basis. Matthews reported a vacancy rate of 8.7%, roughly 2.4 million square feet of quarterly absorption, average asking rents of $11.87 per square foot and about 5.7 million square feet under construction. The differing figures reflect variations in market boundaries and methodologies.

The supply pipeline has begun to contract. Greater Philadelphia delivered 685,000 square feet in the first quarter of 2026, compared with 4.1 million square feet a year earlier, while 1.2 million square feet broke ground and the active pipeline fell to about 3 million square feet, nearly 70% below the prior year. Newmark reported the region's active development pipeline had fallen to 5.5 million square feet, its lowest level in five years, while first-quarter leasing exceeded 6.7 million square feet.

Rents remain under some pressure. Newmark reported Greater Philadelphia asking rents of approximately $12.05 per square foot, with Class A rents around $13.52 per square foot, and noted that vacancy remained above its long-term average. CBRE reported Philadelphia industrial asking rents of $12.21 per square foot in the third quarter, down 2.2% year over year. Leasing activity strengthened along the I-95 and I-295 corridors, including Southern New Jersey, in the second quarter of 2026, and Burlington County's industrial vacancy fell to 9.1% in the third quarter, with the submarket accounting for 45% of the region's industrial occupancy growth.

Greystar's Logistics Platform

Greystar is a global real estate platform headquartered in Charleston, South Carolina, with expertise in property management, investment management, development and construction services in institutional-quality rental housing. The firm said it manages and operates over $300 billion of real estate in 265 markets globally and is the largest operator of apartments in the United States, managing more than one million units and beds worldwide. It reports over $79 billion of assets under management, including over $35 billion of development assets and approximately $36.5 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993.

Greystar has also been building a dedicated logistics platform alongside its rental-housing business, emphasizing warehouse assets and drawing on its development, construction and investment capabilities. The company announced three regional logistics hires in 2026.

With delivery targeted for January 2028, Big Timber Junction is scheduled to reach the market after the region's development pipeline has contracted, with CBRE handling lease-up of the three buildings.

Sources

• Greystar: Greystar Closes and Breaks Ground on Big Timber Junction