Matrix Development Group Announces Nearly 280,000 SF of Leasing Activity at Exit 8A Facilities
Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, today announced significant leasing activity at properties the company owns in the sought-after Exit 8A submarket in Monroe Township, N.J.
Matrix signed a 239,000-square-foot expansion lease with TYC/Genera Corp. at 5 Fitzgerald Avenue within CenterPoint at 8A. The North American distribution arm of TYC brand auto parts extended its lease and took an additional 77,000 square feet to occupy the entire building as part of the transaction.
In addition, Priority Post, a subsidiary of the Swiss Postal Service that provides international mailing services for the wholesale industry, recently signed a new lease for 40,000 square feet of space at 17 South Middlesex Avenue.
“Exit 8A is one of the country's most dynamic distribution hubs, affording tenants numerous benefits in being in a central location near to major roadways and ports to efficiently reach their customer bases,” stated James R. Murray, Vice President – Industrial Portfolio, MatrixDevelopment. “Genera and Priority Post both depend on being able to deliver goods and services in a timely and efficient manner, and these leases reflect the advantages of Exit 8A in supporting the business objectives of the region’s distributors.”
Both 5 Fitzgerald Avenue and 17 South Middlesex Avenue are located minutes from the New Jersey Turnpike, making the New York/Philadelphia and Boston/Washington transportation corridor easily accessible. The locations also provide close proximity to the major freight-moving roadways in the Northeast, with direct routes to New York City, Port Elizabeth and Newark Airport.
The 229,524-square-foot state-of-the-art warehouse/distribution facility at 5 Fitzgerald Avenue was constructed in 2004 and provides 36-foot clear height, plentiful dock doors and vehicle parking, and an ESFR fire suppression system.
In total, CenterPoint at 8A features more than six million square feet of light industrial, office, research and corporate headquarters space. Other tenants at the 500-plus-acremaster-planned complex include Associated Press, Sony, Lenox, Playmobil, Volkswagen, W Grainger,Petco Pet Supplies, US Postal Distribution Center, Villeroy and Boch Fine China, Storehouse Stores, Mitsubishi Electronics, and Lenox, among others.
The 17 South Middlesex Avenue site is a 205,187-square-foot warehouse building that includes a 30-foot clear height, plentiful door positions and trailer parking. Matrix negotiated with Lance Shalit and Joe D'Agostino of Lance Bram Commercial Brokerage, who represented Priority Post in the transaction.
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.