The campus will feature up to 1.5 million sf of class A space on14 lots that are being marketed for sale, lease or build-to-suit.The site, which is within both an urban enterprise zone and aforeign-trade zone, borders FirstEnergy Park, home of the minorleague Lakewood BlueClaws baseball team. Some 200 acres of pristinepine forest are also adjacent.

The federal grant comes on the heels of an earlier $4 millioneconomic development grant from the State of New Jersey, which isalso designated for infrastructure improvements. The combinedmonies are expected to get first phase work underway by the end ofthe year, including the bidding and construction of infrastructure.A 15-year build-out is anticipated.

Cedarbridge Development Corp. is a partnership of severalentities led by Picus Associates as project manager.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.