S hopping C enters N ew J ersey
Real Estate Journal — New Jersey — Section B
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Cohorsky, Kirshenbau, Mayer and Hixson of NAI James E. Hanson broker deal Bridge Development Partners announces Plans for Bridge Point Edison in Edison, NJ
DISON, NJ — Bridge Development Part- ners, LLC announced acquisition of a 7.47-acre prop- erty in Edison, where it plans to develop a 124,560 s/f in- dustrial facility, Bridge Point Edison. The class A facility, located at 150 Whitman Ave. in Edi- son, will feature 36-foot clear ceiling heights, 23 exterior docks, five trailer positions, parking for up to 62 cars, and one drive-in door. The devel- opment plan also includes two designated office spaces E HI-LIGHTS JUNE 14 - 27, 2019
creasingly scarce. We selected this site due to its incredible accessibility to New Jersey/ New York metro population and feel that our Bridge Point Edison design will specifically draw the attention for last- mile delivery users,” said Jon- athan Pozerycki, Vice Presi- dent at Bridge Development. “The Township of Edison has been extremely helpful in this process, and we’re excited to bring this well-located facility to the market.” Bridge Point Edison is lo- cated within two miles of the north-bound entrance and exit of Interstate 287, and within 2.5 miles of south-bound en- trances and exits of I-287 - providing immediate access to I-95 via Exit 10 within minutes. It’s also in close prox- imity to both a FedEx Ground
facility and an Amazon sort facility in Edison. Barry Cohorsky, Andrew Kirshenbau, Barry Mayer and Arthur Hixson of NAI James E. Hanson brokered the deal for Bridge. Bridge Point Edison is the latest in a series of acquisi- tions and developments for Bridge in the New Jersey/ New York Metro area. In the last fifteen months, Bridge has announced plans for Sunset Industrial Park in Brooklyn – the largest planned multi- story industrial development in the country - as well as Bridge Point Somerset located in Franklin Township along I-287 and Bridge Point 78 in Phillipsburg, N.J., which was recently ranked as the nation’s largest industrial project of 2019.
150 Whitman Ave.
within the facility, each total- ing 1,892 s/f. Bridge Point Edison’s size configurations will make it ideal for accommodating small to medium-sized users, par- ticularly last-mile delivery tenants, due to its proxim- ity and accessibility to and from the Interstate highway network connecting the large
population in the New Jersey/ New York Metro area. The project is expected to be delivered in Q1 of 2020. "The industrial market as a whole is seeing strong de- mand for space that works for users large and small with good highway connectivity, particularly as space along the Turnpike corridor becomes in-
CenterPoint Properties announces vertical construction project in Somerset, NewJersey
SPOTLIGHT NORTHERN NJ
5-12B
LSRPA celebrates 10 years of the SRRA
3B
CenterPoint rendering
ing manufacturer of brand name fruit snacks and confec- tions including Welch’s Fruit Snacks, Sun-Maid Chocolate Raisins, Original Gummi FunMix gummi candies and much more. To help PIM address increasing product demand, CenterPoint will expand their manufacturing facility by 72,816 s/f, total- ing over 250,000 s/f. This extra space will accommodate new production lines and fa- cilitate product distribution
with 40' clear heights, six tailboard doors and 20 auto parking stalls. “We’re thrilled to partner with PIM on this develop- ment,” said David Nenner , CenterPoint senior vice presi- dent and regional manager. “This building expansion will drive PIM’s production capa- bilities, help them continue to grow their business and create new jobs.” “A vertical construction project like this presents new
possibilities for PIM’s space,” said Brendan Warland, Cen- terPoint Vice President of De- velopment. “It’s also a great addition to the 4.7 million square feet that CenterPoint manages in New York and New Jersey.” PIM’s representatives, Chuck Fern of Cushman& Wakefield and Bob Nathin of Sheldon Gross , made this transaction possible. Cen- terPoint was represented in- house by David Nenner .
SOMERSET, NJ — Cen- terPoint Properties is an- nounced the expansion and 15-year lease extension of PIMBrands, LLC’s Somerset facility. This development project—CenterPoint’s first vertical construction under- taking in New Jersey—is an answer to PIM’s rap- idly evolving manufacturing needs. PIMBrands, LLC is part of the Promotion InMotion fam- ily of companies and is a lead-
10-11B
14B
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