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PERTH AMBOY, NJ-Matrix Development Corp., based in Cranbury, NJ, has been appointed by Perth Amboy, a Middlesex County waterfront community about 20 miles south of Newark, to develop a $13.5-million industrial park on a vacant 26-acre site once owned by Chevron. A package of 500,000 sf of manufacturing and light industrial space is in the cards for the site, with an 18-month timeline projected. Plans aren’t firm, but Matrix is looking to do either one large multitenant building, or a series of separate smaller ones.

This past June, Chevron paid to have two 300-foot smokestacks and an old asphalt plant demolished to pave the way for redevelopment of the now-city owned property. Chevron has also given the city a 70-acre site across the street for possible industrial development.

At completion and lease-out, the new property is expected to generate more than $400,000 in property taxes.

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