Officials break ground on Phase II of the Route 73 South Redevelopment Area
It was hard for Palmyra Administrator John J. Gural not to get a bit emotional as he acknowledged the many public and private partnerships he’s made in building the Route 73 South Redevelopment Area.
PALMYRA — Borough officials say they’ve finally found the one: A developer who can conquer the south side of Route 73, succeeding where so many others have failed.
PERTH AMBOY — City officials on Monday gathered to see continuing demolition work at the former Gerdau Ameristeel manufacturing property. City officials, including Mayor Wilda Diaz, gathered to see the progress at the massive, 92-acre property recently acquired by Northlight Capital Partnership, according to a statement from the city.
SAYREVILLE – A municipal plan to redevelop a 400-acre property that was the location of a chemical manufacturing facility on South Minnisink Avenue in Sayreville has been adopted by the Borough Council.
Construction will soon begin along the banks of the Hackensack River, as work on the first phase of an endeavor to transform a 95-acre parcel into one of the East Coast’s largest mixed-income developments is slated to start.
EDISON – Rockefeller Group, a Morristown-based real estate developer, has begun construction on 10Edison, a 900,022-square-foot speculative distribution center here, marking it the township’s third following Amazon and FedEx.
Rockefeller Group has sold a newly built, 900,022-square-foot industrial building in Edison for $247 million, in one of several newly announced deals by CBRE.
The property, which was recently completed, is located at 2205 Route 27 on a 56-acre site directly off Interstate 287. A buyer identified as Property Reserve Inc. purchased the sprawling facility, which reportedly is leased to Amazon.
Ben Rosen didn’t join Duke Realty Corp. until late 2016, but he knows full well the importance of the company’s three-building, 1.1 million-square-foot industrial park that broke ground more than two years earlier.
South Jersey, particularly Burlington County, is experiencing low vacancies, shortage of supply and increased rents amid a frenzy for warehouse-distribution space.
