OFFERING: LAND WITH APPROVALS FOR SALE LEE & ASSOCIATES, NJ, HANDLES NEW OPPORTUNITY: AVAILABLE SITE IN EDGEWATER PARK, NJ WITH GREAT DEVELOPMENT POTENTIAL AND TAX INCENTIVES
Elmwood Park, NJ, August 18, 2015 --- Lee & Associates, New Jersey, one of the state’s premier commercial real estate firms and named one of the fastest growing companies last year, is handling the offering for the property at 4201 Route 130 in Edgewater Park, NJ, a township in Burlington County and a northeastern Delaware Valley suburb of Philadelphia.
This 7.97 acre vacant land site consists of 65,000 + square feet approved for retail, office, and medical development. The exclusive broker for the property is Beth Chezmar, vice president, Lee & Associates, NJ.
The property is one of the largest undeveloped tracts in the commercial district of Edgewater Park. Its size and unique shape is suited for development as a mixed use site. The township identifies the Route 130/Mt. Holly Road intersection as a gateway, such that immediate development is of great interest to the township and its residents.
The site’s location provides easy access to the surrounding community as well as to the New Jersey Turnpike and Interstate 295. There is convenient mass transportation available as well from New Jersey Transit and BurLink bus service.
The site is at a signalized corner, with curb cuts on both Route 130 and Route 626 (Mount Holly Road), county-maintained roads. Previous preliminary and final site plan approvals had been granted for the construction of four buildings under 40’ in height and meeting an impervious coverage ratio of 66.95%. They included a two- story building containing 26,895 square feet of retail space on the first floor, which includes 7,800 square feet for a sit-down restaurant (liquor license available), 8,000 square feet for a day care center, and a 3,000 square foot bank or fast food restaurant. The second floor will consist of 20,000 square feet of office space.
According to Richard Marchisio, president of Lee & Associates, NJ: “Since the priority now is to develop the land, the town’s mayor, Redevelopment Committee and Planning Board will absolutely consider other uses outside the parameters previously granted. Potential users of the property are encouraged to meet with the town’s officials who are encouraging discussion of any alternatives that will increase the economic vitality of the area.” In addition, the Township would be particularly amenable to specialized medical uses that include a residential component, including assisted living, acute care and rehabilitation, behavioral health and wellness.
“This community is served by top public and private colleges and universities, and state-of-the-art medical facilities that produce a skilled workforce for any business. Recent moves by national developers show the commitment to Edgewater Park and the region. New retail plazas and office spaces are being developed, while current ones are undergoing major redevelopment, to revitalize this area. Residential home builders K. Hovnanian and Ryan Homes are also building in the area, enhancing the regional demographics,” added Marchisio.
In addition to the fact that Burlington County has the lowest county tax rate in the region, tax abatements will be a key incentive in the recruitment of developers to build in Edgewater Park. Its accessibility by rail and highway, along with the natural features associated with the Delaware and Rancocas Creek in Edgewater Park make this area a unique place to live and work.
About Lee & Associates
Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 52 locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, and Wisconsin.
With 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information