Matrix Development Group Announces Build-to-Suit Development Activity Heating Up at Exit 7A with McKesson and Amazon
Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, today announced that strong build-to-suit development activity at Exit 7A of the New Jersey Turnpike is continuing with construction of a new distribution building within the Matrix Business Park in Robbinsville, N.J.
The new 350,000-square-foot facility, which will be occupied by McKesson Corporation, a major U.S. pharmaceutical distributor and healthcare information technology company, has been approved for a future expansion to 450,000 square feet. The building is one of several new build-to-suit developments within Matrix Business Park.
In October, Matrix announced the completion of a 150,000-square-foot build-to-suit distribution building at the Park for Ritchie & Page Distributing Company, Inc. Just last month, Matrix sold a parcel within the Park to an affiliate of KTR Capital Partners for the development of a one-million-square-foot warehouse for Amazon.
“The Park, once assailed as a vestige of the overheated market of early 2000, remains among the most coveted in the Northeast,” said Alec Taylor, Partner at Matrix Development Group. “These new facilities at Matrix Business Park provide modern and efficient space configurations specifically designed to the needs of their users. Furthermore, these companies will benefit from the strategic location of the Exit 7A submarket, which continues to be an extremely attractive locale for companies that serve the large customer base in the Northeast. None of these recent transactions would have been completed without the cooperation of Mayor Fried and his staff in Robbinsville Township.”
McKesson’s state-of-the-art facility will feature 317,585 square feet of climate-controlled warehouse space, 32,445 square feet of office space, 25 loading docks and parking for 220 cars. The facility will be completed in April 2013 and is expected to generate $2.5 million in revenue for Robbinsville Township over a five-year period, and a total of $6.5 million over a 10-year span.
Amazon’s new warehouse at the Park is on track to open in 2014 and will reportedly bring 600 full-time jobs and more than $22 million in tax revenue to the township, school district and Mercer County. The building is being developed on a 79.75-acre site located between Gordon Road and I-195, and will be used by Amazon employees to pack and ship items such as books and DVDs to customers.
The recently completed Ritchie & Page facility at the Park features 112,500 square feet of warehouse/distribution space and a 10,000-square-foot draught cooler room, as well as 19,500 square feet of 32-foot clear drive-through loading space and 18,000 square feet allocated for office space.
Matrix Business Park at 7A consists of more than 480 acres at Interchange 7A, the interchange of the New Jersey Turnpike and Route 195, and is centrally located between Port Elizabeth, Newark Airport and New York City to the north, and Philadelphia docks and airport. The Park is approved for up to approximately 5.3 million square feet of distribution and light manufacturing space, and is already home to several high-caliber companies, including Mercedes Benz of America and McMaster Carr Supply Co., in addition to Ritchie & Page. A Foreign Trade Zone designation is in place for the entire park, providing added benefits to companies that reside in the Park.
The neighboring park, Northeast Business Park at 7A, also boasts an impressive roster of business residents, including W.W. Grainger, Levitz Furniture, Sleepy’s and Lifetime Brands. Over the past several years, Matrix has developed more than three million square feet at Northeast Business Park.
Matrix Development Group
Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.