EDISON, NJ-Developer Hartz Mountain Industries closed on its deal to acquire the former Ford Motor Co. manufacturing site here. The 100-acre site is situated along Route 1.
The automaker shut down production at the assembly plant more than a year ago. It had broken ground in the late 1940s on a facility that ultimately grew to 18 buildings and more than 1.5 million sf of industrial space. Hartz won a bidding war to redevelop the tract, launching the planning process concurrent with negotiations with Ford to buy the site.
That planning process, which has included several open forums to get the public's input, continues. The site is currently zoned for light industrial, and the township council is expected to change that to suit the mixed uses that Hartz has in mind.
"We have multiple options for the land," says Emanuel Stern, president of the Secaucus, NJ-based Hartz. "But in a near-unanimous voice, the community has asked for a well-balanced lifestyle center with a community-oriented facility. We intend to develop a center that would include stores, entertainment, hospitality and office space."
The sale price for the site hasn't been announced, at least not yet. According to a Hartz spokesman, the final number is tied to the final redevelopment plans. The buyer, which represented itself in the transaction, made a down payment earlier this month, according to the spokesman. Ford was represented by CB Richard Ellis, which declined to comment.
The on-site buildings have been demolished, beginning last summer, with the cost of that process borne by Ford. The land is in the final stages of preparation for redevelopment, according to Stern. Hartz hopes to break ground by the end of this year.
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