Matrix Development Group Announces Completion of 150,000 SF Build-to-Suit Building for Ritchie & Pag
New Development Will Support Beverage Firm’s Consolidation and Service Area Expansion
ROBBINSVILLE, N.J. (MARCH 5, 2012)– Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, has announced the completion of construction of a new 150,000-square-foot build-to-suit distribution building for Ritchie & Page Distributing Company, Inc. The facility was constructed within the Matrix Business Park at Exit 7A off the New Jersey Turnpike in Robbinsville, N.J.
The state-of-the-art building features 112,500 square feet of warehouse/distribution center 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. The building also features 20 loading dock positions, 124 car parking spaces, 82 truck/trailer parking spaces, an enclosed truck service area and an on-site filling station.
To help ensure the energy efficiency of the project, the beverage distributor is working with Matrix Renewable Energy – Matrix’s solar division – to install an approximately 1.0-megawatt photovoltaic solar array on the building's roof in a Power Purchase Agreement (PPA) structure. The array will supply approximately 75 percent of the company’s electrical power consumption requirements.
As a result of purchasing another company, Ritchie & Page is consolidating locations in Trenton and Wall Township into the new site.
“More companies are realizing that, in today’s environment and for the right opportunity, the economics of new construction are very favorable,” said Alec Taylor, Partner at Matrix Development Group. “This transaction enables Ritchie & Page to consolidate its operations in a centralized location that affords numerous benefits, and provides the company with a facility designed to address its specific needs from both an operational and energy efficiency perspective.”
Matrix Business Park at 7A consists of more than 480-acres at Interchange 7A, the interchange of the New Jersey Turnpike and Route 195. The park is approved for up to approximately 5.3 million square feet of distribution and light manufacturing space, and is centrally located between Port Elizabeth, Newark Airport and New York City to the north, and Philadelphia docks and airport.
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.
For more information on Matrix Development Group, please contact the company’s Cranbury, N.J., office at 732-521-2900 or visit www.matrixcompanies.com.