528,000-SF W/D Facility Set for Exit 8A

Warehousing and distribution is currently the hottest industrial real estate sector in New Jersey, and perhaps the hottest of all real estate categories. As reported earlier here, developers are now actively looking to points west and south in the Garden State for less-expensive and more readily available sites to meet the apparently insatiable demand.

In terms of geography that New Jerseyans would readily understand in this state of “which exit are you from?” new W/D construction has found yet another exit of the NJ Turnpike as a major destination. Exit 7A has been the most recent hot spot, and now 8A is catching up in the game. Matrix Development Group, based here, has started construction of a new 528,000-sf speculative warehouse and distribution facility at its appropriately named CenterPoint industrial park (8A is about halfway down the 120-mile ‘pike). Indeed, Matrix has recently run off a string of major deals aiming to meet market demand. The company currently has some three million feet of industrial space under construction, with perhaps more to come.

“Based on the strength of the market right now, we know this property has marketability,” says Jim Murray, Matrix’s development project manager. “This region continues to be a magnet for companies that need to access consumer markets in the Northeast.”

The company’s other current projects, mostly in south central NJ, include a one million-sf build-to-suit W/D facility for Seaman’s Furniture at Northeast Business Park, Washington Twp.; a 550,000-sf distribution center for Lifetime Hoan Corp., also at Northeast Business Park; and a 150,000-sf warehouse and manufacturing facility for Denby Associates. According to Murray, two pending deals at Northeast Business Park, and yet another at CenterPoint, could further raise those construction totals.

CenterPoint itself actually spans the communities of South Brunswick and Monroe Twp. Tenants in existing facilities at the site include such names as Volkswagen of America, Siemens Medical Systems and Sony.