Woodmont JV Completes New Jersey Industrial Revamp

Woodmont Industrial Partners, together with Sagard Real Estate, has completed a capital improvement program at 461 Ridge Road, a now 210,000-square-foot Class A industrial facility in South Brunswick, N.J.

This marks the fourth project brought online by the partnership in the area. The ownership picked up the property in 2020 for $19.8 million from seller GBD International, according to CommercialEdge. JLL will act as the facility’s exclusive leasing broker.

461 Ridge Road was originally a 144,451-square-foot industrial structure completed in 1973. The first stage of the capital improvement program consisted of multiple upgrades, including a new ESFR sprinkler system, LED lighting, office appendages and new dock doors. The second stage of the program consisted of a 65,000-square-foot ground-up expansion, increasing the industrial building’s footprint.

Now, the upgraded industrial property features 22-foot to 32-foot clear heights, a total of 31 loading docks, four drive-in doors, two office suites totaling 9,516 square feet, 108 vehicle parking spots with 10 EV charging stations and 10 trailer parking spots.

New industrial space currently underway

The 12.7-acre facility is close to Interstate 95, providing easy connectivity in the area, while being 28 miles from Trenton-Mercer Airport, 24 miles from Linden, N.J. and within 35 miles of Newark Liberty International Airport. The JLL team in charge of leasing 461 Ridge Road includes Vice Chairman David Knee, Senior Managing Director Gary Politi and Senior Associate Michael Viera.

Significant industrial developments in the New Jersey area include Matrix Development Group’s Matrix Logistics Park, a Class A industrial campus currently underway in Budd Lake, N.J. Earlier in May, the developer landed $93 million in construction financing for the 781,748-square-foot project.

During the same period, Rockefeller Group also broke ground on Rockefeller Group Logistics Center at Carneys Point, also in Budd Lake. The project, totaling 1.1 million square feet, is subject to a $114.8 million construction loan.

The post Woodmont JV Completes New Jersey Industrial Revamp appeared first on Commercial Property Executive.