As mandated by the New Jersey DEP, the heavily contaminated site couldn't be sold until it's remediated, and Hercules has started that process as well. Company officials say they expect to have that completed within the next year.
Hercules hasn't decided on an asking price, according to company officials, but will pursue its sale through an RFP process. The company has hired Stadtmauer Bailkin Biggins, a Princeton-based economic development consulting firm, to advise the seller and conduct the process.
"There is an abundant, affordable labor force of almost 80,000 within a five-mile radius, and a 10-mile radius increases the labor pool to 325,000," according to Tim Comerford, president of the area development group of PSE&G, the state's largest utility. Hercules has also solicited the assistance of the group to find a buyer.
The site is approved for single or multiple buildings totaling between one million and two million sf, according to township officials. It's currently zoned for heavy industrial use, but the surrounding Exit 6A marketplace has seen a recent surge in warehouse/distribution type uses.
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