PARSIPPANY – Altman Logistics Properties has secured $22 million in construction financing for the development of Apex Logistics at Parsippany, a 140,000-square-foot Class A logistics facility set to rise at Two Hilton Court. A joint venture between Altman Logistics Properties, Renard Investments Group, and DHS Real Estate Investment Management B.V. backs the project.
Sitework for Apex Logistics at Parsippany is scheduled to begin in the first quarter of 2025, with vertical construction planned for mid-year and substantial completion expected by late 2025. The development is strategically positioned at the intersection of I-80 and I-287, providing direct access to I-280, I-78, Routes 24, 46, and 10, and is located approximately 30 miles from New York City, Newark Liberty International Airport, and major regional ports.
Financing & Market Demand
The construction loan is being provided by Truist, with Cushman & Wakefield’s John Alascio and TJ Sullivan assisting the joint venture in securing financing. Mark Levy, President of Altman Logistics Properties, emphasized the growing demand for modern, efficient logistics facilities in New Jersey’s land-constrained market.
“Our ability to secure the successful and timely financing for the construction of Apex Logistics at Parsippany underscores the demand for new modern, sustainable, and efficient logistics space in the New Jersey market,” said Levy. “We are optimistic that the delivery of Apex Logistics at Parsippany will help meet demand for infill logistics product in one of the region’s most land-constrained markets.”
Altman’s Expanding Portfolio
Altman Logistics Properties, led by seasoned industry professionals with over 75 years of experience, specializes in developing logistics hubs in high-demand areas. The firm recently acquired a 15.7-acre site in Hamilton Township, NJ, for Apex Logistics at Hamilton, a 170,800-square-foot warehouse project.
Beyond New Jersey, Altman is developing:
- A three-phase, 600,000-square-foot logistics facility in Delray Beach, Florida
- A 202,000-square-foot industrial site in Lakeland, Florida
- A 182,000-square-foot warehouse logistics facility in Davie, Florida, replacing the former Signature Grand event space
With Apex Logistics at Parsippany on track, Altman Logistics continues to strengthen its foothold in New Jersey’s logistics and industrial market, bringing state-of-the-art distribution hubs to one of the most critical supply chain corridors in the U.S.
