6C — October 2023 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
M&T Bank fuels Crossroads Industrial development at 1045 Richmond Hwy. in Fredericksburg Matan Companies breaks ground on 220,000 s/f of spec warehouse in Stafford County, VA
S TAFFORD COUNTY, VA — Construction is underway on Matan’s new development venture in Stafford County called Crossroads Industrial. Slated to deliver in July 2024, this 220,000 s/f, class A project of - fers ideally located industrial space with unmatched access to I-95 and Rte. 1/Jefferson Davis Hwy. Tenants can expect 32-ft clear ceiling height, 52 by 50-ft column spacing, 64 dock doors, LED lighting, ESFR sprinklers, and a 480/277V 3-Phase power supply. Situated on 27.63 acres,
Crossroads Industrial has am - ple parking with over 320 car and 20 trailer parking spaces, in addition to six electric ve - hicle charging stations. Located at 1045 Richmond Highway in Fredericksburg, Crossroads sits midway be - tween Washington, DC and Richmond, VA, minutes to I-95, providing north-south connection to the entire east coast. With easy access to major thoroughfares and surrounding markets, Crossroads is an ideal location for any distribution, manufacturing, warehousing, or logistics company.
“Building speculative in the current environment is a chal - lenge, and doing so is a real testament to our team and our relationship with M&T Bank ,” said JP Matan , direc- tor of leasing for Matan Com- panies. “The fundamentals in the I-95 South Corridor remain strong and we are very encour - aged by the early interest in the project.” “We are pleased to grow our lending relationship with Matan on this dynamic indus - trial development, situated between Washington, DC and Richmond, VA,” said Beth Halling , senior vice president for M&T Bank. “We look for - ward to another successful Matan project as we continue to expand our lending footprint regionally.” MAREJ Garden Communities Dev. launches pre-leasing at The Metropolitan in Springfield Construction continues at The Metropolitan in Springfield. SPRINGFIELD, NJ — Garden Communities has launched pre-leasing for the townhome phase of The Met- ropolitan in Springfield, as construction continues at a steady pace. Located at 92 Millburn Ave. on the former Saks Fifth Avenue store site, the community will feature a combination of townhomes and apartments for a total of 270 luxury rental residences. Current construction high - lights include progress on building facades, providing a closer look at the mixed-used development’s exterior design features. The Metropolitan features a sleek, modern look with buildings clad in mixed materials including cast stone, brick and fiber cement. Among its distinguishing attributes, The Metropolitan sits just one-half mile from NJ Transit’s Short Hills train station and offers fast access to Rtes. 78, 22 and 24. MAREJ
Construction is underway on Crossroads Industrial
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