Rendering of Collins Drive Logistics Center
D2 Collins LLC, an affiliate of D2 Organization, has announced the sale of its expansive 707,400 square foot logistics park development site in Carneys Point, New Jersey, to EQT Real Estate. The acquisition by EQT—a global leader in industrial real estate—represents a significant milestone in the evolution of South Jersey’s industrial corridor, reflecting growing demand for state-of-the-art logistics infrastructure.
Located within the Salem Commerce Park at 1, 3, 4, and 7 Collins Drive, the 48-acre property will be transformed into a Class-A logistics hub consisting of three large-scale buildings: Building A (178,500 sq. ft.), Building B (254,500 sq. ft.), and Building C (274,400 sq. ft.). These modern facilities will feature extensive car and trailer parking, catering to high-demand distribution and logistics operations.
“This sale underscores our strong belief in the potential of the Carneys Point submarket and the capabilities of our team to execute in a challenging entitlement environment,” said Keith Delaney, CEO of D2 Organization. “We’re proud of the strategic value we unlocked here.”
Originally acquired from the Delaware River & Bay Authority in December 2022, D2 not only assembled the 48-acre site, including a now-vacant 78,000-square-foot office building, but also secured approvals to significantly expand the development footprint. Working closely with Carneys Point Township and other stakeholders, D2 increased the project’s buildable space from an initial 586,000 square feet to 707,400 square feet, largely by expanding Building C and clearing the way for demolition of the existing office structure.
Tom Allman, Managing Director of Construction & Development at EQT Real Estate’s US Industrial division, expressed enthusiasm for the project. “We’re excited to again collaborate with Carneys Point Township and our partners—including D2 Organization, Marathon Engineering, Archer & Greiner, and CBRE—to deliver a cutting-edge logistics solution. This site offers a rare combination of entitlement readiness, strategic location, and development scale.”
The property boasts outstanding logistical advantages. It sits directly off Exit 4 of Interstate 295 and Highway 48, just minutes from the New Jersey Turnpike and the Delaware Memorial Bridge. The proximity to Philadelphia, Southern New Jersey, and Northern Delaware, combined with two-hour access to New York City, Baltimore, and Washington D.C., makes it a premier regional distribution hub. The site also lies within reach of key maritime and air gateways, including the Port of Wilmington, Penn Terminals, and Philadelphia International Airport.
Salem Commerce Park is already home to notable distribution and cold storage tenants such as McLane, Amazon, Goya, US Foods, and Rivian. With demand for Class-A industrial space surging, average rental rates in Salem County have more than doubled since 2019—from $5 per square foot to over $12—further validating the market’s strength.
CBRE’s National Partners team, led by Brian Fiumara, facilitated the transaction, reflecting confidence in the area’s continued growth. The Southern NJ/Eastern PA market is now the second-largest big-box region in North America, with over 500 million square feet of inventory.
Since 2019, D2 Organization has entitled more than 3 million square feet of industrial development in Salem County alone. The firm remains focused on transforming overlooked properties—including brownfields and obsolete facilities—into development-ready sites that fuel economic growth.
D2 Organization is a privately held investment group focused on converting underutilized land into high-value assets. With over 1,000 acres acquired and entitled, and more than $200 million in land sales to institutional investors, D2 is recognized for its strategic approach to land development.
A division of global investment firm EQT, EQT Real Estate manages over 2,000 properties across 400 million square feet worldwide. With more than 440 professionals across 50 locations, the firm drives sustainable development and operational excellence in logistics and residential real estate.
For more information, visit www.d2organization.com and www.eqtgroup.com.
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