X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ROBBINSVILLE, NJ-Matrix Development Group has plenty of space to offer at its Northeast Business Park, and a trio of distributors has just taken a total of 288,000 sf off the market, going the expansion route. The 400-acre park, a 10-building campus with a build-out capability of five million sf, is located in the NJ Turnpike Exit 7A submarket.

In the largest expansion, consumer home products distributor Lifetime Brands has added 148,000 sf, bringing its total presence at the site to some 700,000 sf. The Garden City, NY-based company uses the site as its main W/D facility. And Sleepy’s, the Bethpage, NY-based mattress retailer, has added 90,000 sf to its lease at the site, now occupying 275,000 sf of W/D space.

Finally, the third expansion is the smallest in total space, but the most dramatic in terms of its impact on the company: Bohren’s Moving & Storage has grown by 50,000 sf, bringing its total occupancy to 175,000 sf. The company, which moves everything from households to trade shows, uses the site as its headquarters. Terms of the various transactions were not released.

“Our business parks near Interchange 7A continue to be valuable strategic locations for national and regional corporations seeking access to the Northeast’s distribution hubs,” says Hilary Budny, VP of the Cranbury, NJ-based Matrix.Three spec warehouse buildings are currently available at the company’s Northeast Business Park, the largest of which is the 800,300-sf facility at 141 W. Manor Way. The others are the 480,240-sf building at 16 Applegate Dr., and the 243,162-sf 14 Applegate Dr. Utilities to the site include high-pressure natural gas, teledata and fiber optic lines. The entire project is approved under a general development plan, according to Budny, with individual buildings needing only township planning board approval to start construction.

Including Northeast Business Park, Matrix has a total of 800 acres in the Exit 7A submarket. Other major users in the region include WW Grainger and Mercedes Benz.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.