Woodmont, EverWest Kickstart New Jersey Industrial Project
When complete, the facility will bring more than 200,000 square feet to market.
Woodmont Industrial Partners, together with EverWest Real Estate Investors, has started work on an industrial project in South Brunswick, N.J. The developer will renovate an existing 145,000-square-foot warehouse and expand it by 65,000 square feet. The project, representing the fourth joint venture between the two companies, is slated for completion this summer.
In 2022, Woodmont added nearly 6 million square feet of industrial space to its portfolio, while its construction and renovation pipeline totals more than 11 million square feet. The company is active in Northeastern states including New Jersey, New York and Pennsylvania, but also in Florida and Texas.
The partnership purchased the 12.8-acre property in December 2020 for $19.8 million, CommercialEdge data shows. When complete, the improved facility will offer 32-foot clear heights, 30 loading doors, four drive-in doors and ample parking spots. Bussel Realty Corp. Senior Vice President David Blitt and Sales Associate Eli Harari will market the asset for lease.
Located at 461 Ridge Road, the industrial facility is 14 miles from Edison, N.J., 18.7 miles from Trenton, N.J., and within 32 miles of Staten Island, N.Y. Being close to Interstate 95 in New Jersey’s Exit8A submarket, the property allows easy access to 33 percent of the U.S. population within one day’s drive, Woodmont Executive Vice President Anthony Amadeo said in prepared remarks.
Another project is moving forward in the same area. In December, Brookfield Properties announced plans for a 325,710-square-foot Class A industrial facility in East Windsor, N.J. Also located close to Interstate 95, the project has an estimated date of completion in 2024.