The park, which projects a build-out of 3.2 million sf, isslated to rise on a 290-acre former brownfield site along theArthur Kill Strait near Exit 12 of the New Jersey Turnpike.Denver-based ProLogis has approval to restore the 12 acres as partof its fulfillment of an obligation under the state's FreshwaterWetlands Protection Act requiring companies to compensate foradverse wetlands impacts resulting from development. The acreagewill be a source of wetlands credits used for other projects in thearea.

"Mitigation banking is an important component in offsettingunavoidable impacts that redevelopment projects can have onwetlands," says Glenn Stock, vice president of land development forProLogis in New Jersey. "The bank at Port Reading will create a newwetlands habitat with improved ecological and aesthetic value andalso serve as a resource for developers of projects where on-sitewetlands mitigation is not a practical alternative."

"ProLogis is transforming a derelict brownfield site into aneconomically productive property," says Woodbridge Mayor JohnMcCormac, who is a former New Jersey state treasurer. "They arealso providing an enhanced wetlands that will offer a mitigationmechanism that other companies planning development projects canleverage."