"The growth of the Exit 7A and 7 markets is a reflection of the lack of remaining land sites at Exit 8A," confirms Harry Kantor president and CEO of KOR Cos., a real estate organization active in the office, industrial, retail and residential markets. "Exit 7A and 7 offer distribution companies relief from expensive operating costs caused by traffic congestion and rising costs in general. This will be the next great distribution market in the region."
And, yes, the 170-acre site is within one of the so-called "green" zones in which development would be allowed and even facilitated under the revised and tightened state growth management plan proposed by Gov. James McGreevey (see earlier stories). Indeed, the New Jersey Department of Transportation will build a connecting road linking the site to Exit 7 itself. The park is also next to Exit 56 of I-295, less than five miles from I-195, and within shouting distance of the new South Jersey light rail system, which is expected to be completed late this year.
As far as what KOR has in mind for targeting users, the emphasis will be on high bay, bulk distribution space for "consumer products giants," in Kantor's words, as well as third-party logistics providers looking to distribute along the densely populated northeast corridor. The park's facilities will provide up to 43-foot ceiling heights and 60-foot dolly pads.
Kantor is also looking toward some high-end architecture considering the project's warehouse/distribution uses. "Besides its size and location, Central Crossings Business Park will be distinguished by its emphasis on superior architectural design," he explains. "We have meticulously planned this new development."
No timetable for development of the project has been released.
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