UPPER FREEHOLD TWP., NJ-Rock-IDI 7A has unveiled a proposal to build more than 1.8 million sf of warehouse space in this western Monmouth County township. The preliminary plans were unveiled before the township's planning board this week as a prelude to a formal application for a general development plan. The development entity consists of a partnership between the Rockefeller Group Development Corp. of New York and the Atlanta-based IDI. The "7A" in the name refers to the nearby Exit 7A of the New Jersey Turnpike.
Those preliminary plans call for three warehouse buildings of approximately 1.1 million sf, 550,000 sf and 200,000 sf on a 255-acre site along this township's border with Allentown. The price tag for building the project is in the $82-million range, according to Clark Machemer, assistant vice president and regional director for the Rockefeller Group, and he estimates the completed property will generate annual taxes of approximately $1.6 million.
The undeveloped site itself, formerly farmland, is currently zoned for a commerce park, according to local officials, a designation it received nearly a decade ago. As far as the timing, pending approvals, work could start as soon as early next year, and Rockefeller Group officials are projecting a six-year build-out.
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