SUFFOLK, VA. — Rockefeller Group and Matan Cos. have broken ground on the first phase of Port 460 Logistics Center, an industrial development that will comprise 5 million square feet in Suffolk, approximately 20 miles southwest of Norfolk with direct access to the Port of Virginia. The co-developers are completing the project in a joint venture with Mitsubishi Estate New York, Chuo Nittochi and Taisei USA LLC. The first phase will comprise 2.4 million square feet of industrial space across five buildings, with the first two buildings scheduled for completion next year. A second phase will deliver 2.6 million square feet of space. Gregg Christoffersen and Kristopher Kennedy of JLL are managing leasing at Port 460.
PISCATAWAY, N.J. — New York City-basedRockefeller Group has sold Constitution Logistics Center, a 147,000-square-foot industrial property located in the Northern New Jersey community of Piscataway. The buyer was Bridge Industrial. Rockefeller Group acquired the 18-acre site in 2023 and demolished a 100,000-square-foot office building that was previously owned and occupied by WS Audiology/Sivantos Group. Building features include a clear height of 36 feet, 41 loading docks, 3,000 square feet of office space and parking for 123 cars and 57 trailers. Marc Petrella and Michael Kimmel of KBC Advisors represented Rockefeller Group in the transaction.
DENVER — Jordon Perlmutter & Co. and Rockefeller Group have opened Paradigm River North, a Class AA office building at 3400 Walnut St. in Denver’s River North Art District. Paradigm River North is the first joint venture between Perlmutter and Rockefeller. Designed by Denver-based Tryba Architects, Paradigm River North offers 188,000 square feet of office space across eight stories and 12,000 square feet of ground-floor retail space. The property features smart-phone access, valet-run parking that offers ease of use for tenants, a high-end bike room for multimodal transit and spacious outdoor terraces on every floor. Law firm Davis Graham & Stubbs LLP has pre-leased 80,000 square feet on the top three floors of Paradigm River North. Jamie Gard and Jeff Castleton of Newmark are handling leasing for the property.
CARNEYS POINT, N.J. — New York City-based Rockefeller Group has broken ground on an approximately 1.1 million-square-foot industrial project in Carneys Point, located across the Delaware River from Wilmington in Southern New Jersey. Rockefeller Group Logistics Center at Carneys Point will consist of two buildings, one totaling 596,443 square feet and the other spanning 530,000 square feet, on a 141-acre site. Building features will include clear heights of 40 feet and parking for 658 cars and 328 trailers. Sumitomo Mitsui Trust Bank provided $114.8 million in construction financing for the project, which is slated for an early 2025 delivery. M+H Architects designed the project, and FCL Builders is serving as the general contractor. CBRE has been tapped as the leasing agent.
WASHINGTON, D.C. — A joint venture between Rockefeller Group and Stonebridge is underway on the development of 600 Fifth Street Northwest, a $375 million office building project in Washington, D.C. Upon completion, the building, which is situated at the site of the former Washington Metropolitan Transit Authority (Metro) headquarters, will total 400,000 square feet. The property will feature 15-foot ceilings, open-air terraces on every other floor, an energy-efficient glass curtain wall and a ground-level public park. Law firm Crowell & Moring will occupy 199,000 square feet as an anchor tenant of the building, which was 50 percent preleased at the time of topping out, May 20. Stonebridge and Rockefeller signed a 99-year ground lease with Metro in June 2023, breaking ground the same month. A timeline for completion was not disclosed. Clark Construction is serving as the general contractor on the project, which was designed by Pickard Chilton. Kendall Heaton Associates is the architect of record, and Scott Frankel, Carroll Cavanagh, Dimitri Hajimihalis, Emily Eppolito and D.J. Callahan of CBRE manage leasing at the property.
RIVERSIDE, CALIF. — Rockefeller Group has begun construction of Sycamore Hills Distribution Center situated on 34.6 acres in the Inland Empire city of Riverside. Totaling 603,100 square feet, the project will include a 400,000-square-foot building and a 203,100-square-foot building. The two buildings will offer 36-foot clear heights, 56-foot by 60-foot column spacing, 623 auto parking spaces and 155 trailer parking spaces. As part of the development, Rockefeller Group will develop and then donate a 1.2-acre trailhead parking lot north of the property that will provide hiking and mountain biking access to the Sycamore Canyon Wilderness Park. The trailhead parking lot will include 52 parking stalls, a seating area, drinking fountain and bike repair stand that will be dedicated in fee title to the City of Riverside upon completion. JPMorgan Chase provided $87.2 million in construction financing for the project, which is slated for completion in early 2025. The project team includes HPA Architects, Kimley-Horn, Fullmer Construction and ECM Management. Bill Heim, Alex Heim, Michael Chavez, Mario Calvillo and Finn Comer of Lee & Associates’ Ontario office will oversee leasing of the project.
CHULA VISTA, CALIF. — Rockefeller Group has sold Heritage Industrial Center, a three-building, 202,760-square-foot industrial project in Chula Vista, just south of San Diego. EQT Exeter purchased the complex for an undisclosed price. Situated on 11.5 acres, the project features a 105,550-square-foot building, a 56,470-square-foot building and a 40,740-square-foot building. Each building was developed on a separate land parcel and was vacant at the time of sale. Construction on Heritage begin in June 2022 and was completed in September 2023. Rockefeller Group acquired the land from Carlsbad-based HomeFed Corp. EQT Exeter’s San Diego office, led by Caitlin Little, will handle leasing and asset management for Heritage. Michael Mossmer and Patrick Connors of Voit Real Estate Services represented Rockefeller Group on the leasing efforts and the sale of the project. Jeffrey Cole, Jeff Chiate, Bryce Aberg, Brad Brandenburg, Zachary Harman and Mike Adey of Cushman & Wakefield’s National Industrial Advisory Group represented Rockefeller Group on the investment sale element of the project. The development team included SCA Architects, Kimley-Horn and TFW Construction.
PHILADELPHIA — A joint venture between New York City-based Rockefeller Group and Los Angeles-based PCCP LLC will undertake a 656,904-square-foot industrial redevelopment project in Philadelphia. The 50.4-acre site at 1500 Roosevelt Blvd. formerly housed the Byberry State Hospital, and the development team will convert the fully entitled property into a logistics campus. Rockefeller Group Logistics Center at Roosevelt Boulevard will feature two buildings totaling 318,696 and 338,208 square feet. The seller was an affiliate of the Philadelphia Industrial Development Corp. (PIDC), which is the city’s public-private economic development organization. CBRE advised on the sale of the land and will serve as the project leasing agent. John Alascio, Aaron Graves, Alex Lapidus, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged $100 million in construction financing through New York Life Real Estate Investors for the project.
SUFFOLK, VA. — Rockefeller Group and Matan Cos. have partnered to develop Port 460 Logistics Center, a 5 million-square-foot industrial park in Suffolk. The 500-acre property, which will provide direct access to the Port of Virginia via U.S. Route 58, is zoned for heavy industrial, logistics, advanced manufacturing, life sciences and warehouse uses. Rockefeller and Matan plan to break ground on Phase I, which will comprise five buildings totaling 2.4 million square feet, in 2025. Matan led the two-year process of rezoning the Port 460 site and will continue to manage further entitlements. The company identified Rockefeller Group as a potential development partner through a process led by JLL’s D.C. Capital Markets team. The joint venture partnership selected JLL as the exclusive leasing agent of Port 460. The Port of Virginia is expected to be the deepest seaport on the East Coast following completion of its multibillion-dollar infrastructural improvements in 2024.
FORT MILL, S.C. — The Rockefeller Group has sold Stateline 77, a 1.1 million-square-foot, two-building industrial park located along I-77 in Fort Mill, a South Carolina suburb of Charlotte. EQT Exeter purchased the 77.5-acre asset from Rockefeller Group for an undisclosed price. Pete Pittroff, Dave Andrews, Josh McCardle, Michael Scarnato and Britton Burdette of JLL represented Rockefeller Group in the sale. Last month, solar panel manufacturer Silfab Solar announced plans to invest $150 million to upfit and operate out of the larger of Stateline 77’s two buildings, a 786,167-square-foot cross-dock facility located at 7149 Logistics Lane. The property’s second building, a 221,000-square-foot distribution center at 7107 Logistics Lane, was fully leased in 2022 by two tenants, Element Designs and Motion Industries Inc.
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