BGO Acquires 1M SF Industrial Facility in Central NJ for $270M
Global real estate investment manager BGO has acquired Millstone 8 Logistics Park, a nearly one-million-square-foot industrial distribution facility in central New Jersey, for approximately $270.4 million.
The property, located at 505 Route 33 in Millstone, was developed by Crow Holdings Development in partnership with The Carlyle Group and 2020 Acquisitions and completed in 2022.
The warehouse is fully leased to Logistics Plus, a third-party logistics provider that signed a full-building lease in 2025.
Modern Logistics Facility
The warehouse features modern logistics specifications designed for large-scale distribution operations, including:
- 40-foot clear heights
- 170 loading doors
- cross-dock loading capabilities
- parking for 458 cars and 273 trailers
These features make the facility suitable for high-volume logistics and e-commerce distribution operations.
Strategic Location Along the Turnpike Corridor
The property sits within the Exit 8 / 8A industrial submarket, one of the most active logistics hubs in the Northeast.
The site provides direct access to major transportation infrastructure, including New Jersey Turnpike (I-95), Interstate 295, Interstate 78, and Interstate 287.
The location also provides proximity to Newark Liberty International Airport and the Port of New York and New Jersey, two major logistics gateways for the region.
From this location, companies can reach more than 130 million consumers within a one-day drive.
Strong Industrial Market Fundamentals
Investor demand for logistics assets in New Jersey remains strong due to limited supply and continued growth in e-commerce distribution.
The Exit 8/8A industrial submarket currently maintains a vacancy rate of roughly 5.4 percent, while rental rates have grown more than 12 percent since 2018.
These conditions continue to attract institutional capital seeking stable long-term industrial investments.
Final Thoughts
The Millstone 8 acquisition reflects ongoing institutional demand for large-scale logistics facilities in strategic distribution corridors.
With modern building specifications, a full-building lease to a national logistics operator, and proximity to major transportation infrastructure, assets in the New Jersey Turnpike corridor remain among the most sought-after industrial investments in the Northeast.
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