Advance Realty and F. Greek Development Break Ground on New Build-to-Suit Refrigerated Warehouse for Preferred Freezer
Nationwide Operator of Temperature-Controlled Warehouses Will Occupy 190,000-SF Facility in Woodbridge, N.J.
WOODBRIDGE, N.J. (June 11, 2014) —Woodbridge Mayor John McCormac joined Advance Realty President Peter J. Cocoziello, F. Greek Development President Frank Greek and Preferred Freezer Services CEO John Galiher today to break ground on a state-out-the-art, 190,000-square-foot refrigerated warehouse and distribution building to be located at 275 Blair Road in Woodbridge, N.J.
The facility, under construction on a 9.33-acre site, is fully leased by Preferred Freezer Services, a nationwide operator of temperature-controlled warehouses. A joint-venture partnership of Advance Realty, a leading Northeast U.S. owner and developer of Class A office, multifamily, mixed-use and flex-space properties, and F. Greek Development, a leading Central New Jersey-based full service real estate firm focused on industrial development, is developing the built-to-suit warehouse.
“We welcome the addition of Preferred Freezer’s innovative facility to Woodbridge,” Mayor McCormac said. “The project is expected produce about 60 jobs immediately upon completion in April 2015. Not only will this create employment opportunities for our residents, but it will also help to boost overall economic activity within the regional market.”
Stated Cocoziello: “As the developer of this built-to-suit warehouse, Advance is proud to be able to put Preferred Freezer in a position to excel in the market by taking advantage of this key location and the ample amenities that its new facility will provide. We look forward to the completion of this project next year and fully expect to see other corporations follow Preferred Freezer’s lead in developing tailored industrial facilities in the region.”
Added Greek: “From the start, we recognized that this project would benefit not only Preferred Freezer, but also the Woodbridge community and the state’s commercial real estate market. With that being said, we’re certain that the personalized features and strategic placement of the new facility will perfectly align with Preferred Freezer’s current goals.”
As a transit-orientation corporation, Preferred Freezer will benefit from the facility’s ideal location in close proximity to Newark Liberty International Airport and the Port Newark/Elizabeth Marine Terminal. The site also offers easy access to key New Jersey roadways including the New Jersey Turnpike.
”Preferred Freezer is pleased to have the opportunity to leverage the many advantages that our new state-of-the-art, customized facility will offer,” Galiher said. “The temperature-controlled warehouse will specifically cater to all of our needs as a company and, as a value-add, will place us in the heart of New Jersey’s industrial market.”
About Advance Realty
Advance Realty is a privately owned real estate development, investment and management company headquartered in Bridgewater, N.J. Since its inception in 1979, Advance Realty has acquired or developed more than 10 million square feet of commercial, residential, R&D, industrial and mixed-use projects. Today, the company owns, manages and invests in a diversified portfolio of office, retail, industrial, residential and mixed-use assets in key urban and suburban markets along the Northeast Corridor. The company actively pursues real estate investments that provide opportunity to enhance value through development, repositioning and redevelopment. Advance’s strong capital base, fully integrated platform, outstanding talent and flexibility as a privately held organization position the company for continued growth. For more information, visit www.advancere.com.
About F. Greek Development
F. Greek Development is a leading Central New Jersey-based full service real estate firm focused on industrial development throughout New Jersey and Pennsylvania. Founded in 1934, the company has developed more than 15 million square feet of primarily industrial space. As one of the oldest industrial real estate development specialists in the industry today, F. Greek Development is a vertically-integrated company operating every phase of its 12 million square foot portfolio including site selection, design, construction, leasing, property management and tenant relations. For more information, visit www.greekdevelopment.com.
About Preferred Freezer Services
Preferred Freezer Services is dedicated to designing, constructing and operating state-of-the-art temperature controlled warehouses throughout the United States and Asia. Preferred Freezer Services has grown from a single facility in 1989 to 35 locations and still growing. Preferred Freezer Services operates in locations throughout the United States with facilities in New York/New Jersey, California, Florida, Georgia, Illinois, Massachusetts, Pennsylvania, Texas, Virginia as well a global locations in Vietnam and China.