Momentum Continues in Central New Jersey as Matrix Development Group Breaks Ground on New Build-to-Suit Warehouse For Falken
220,000-SF Facility Comes on Heels of Ritchie & Page, McKesson and Amazon Projects
ROBBINSVILLE, N.J. (December 12, 2013) — Continuing a year of strong activity in the central New Jersey industrial submarket, Matrix Development Group, one of the region’s most active and well-regarded real estate investment and development companies, today announced that it has broken ground on a new build-to-suit warehouse and distribution center for Falken Tire Corporation within Matrix Business Park at 7A, the company’s premier 480-acre light industrial park in Robbinsville, N.J.
The 222,000-square-foot facility, scheduled for completion in spring 2014, will serve as a new location for Falken Tire, an international manufacturer of automobile tires.
The announcement is the latest indicator of the strength of the central New Jersey industrial market. Recently, Matrix announced more than one million square feet of leasing activity at the neighboring Northeast Business Park at 7A, including a 500,100-square-foot lease with Global Equipment Co., a subsidiary of Systemax, and a 500,520-square-foot lease with IDS USA, a subsidiary of Li & Fung Limited.
The new building for Falken is the latest in a number of new build-to-suit developments within Matrix Business Park at 7A. Earlier this year, Matrix sold a site on which a 350,000-square-foot facility is being developed for pharmaceutical distributor and healthcare information technology company McKesson Corporation. Also within Matrix Business Park at 7A, Matrix recently completed a 150,000-square-foot build-to-suit distribution building for Ritchie & Page Distributing Company, Inc., and sold a parcel to an affiliate of KTR Capital Partners for the development of a one-million-square-foot warehouse for Amazon.
As a tenant in one of the country's most dynamic distribution hubs, with a total market size exceeding 50 million square feet, Falken Tire will benefit from the unparalleled accessibility afforded by the region’s robust transportation network.
“Falken Tire’s decision to open a new location at Matrix Business Park is representative of the continued strength and appeal of the Exit 7A industrial submarket — one of the most coveted locations in the Northeast,” Matrix Development Group Principal Alec Taylor said. “As owner of multiple business parks throughout the central New Jersey industrial corridor, we’re committed to bringing high-quality companies such as Falken to the region, and look forward to delivering a world-class facility for the company in 2014.”
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, in addition to Falken, McKesson Corporation, Ritchie & Page and Amazon, is already home to several high-caliber companies, including Mercedes Benz of America and McMaster Carr Supply Co. A Foreign Trade Zone designation is in place for the entire park, providing added benefits to companies that reside there.
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.