Matrix Development Group Leases Two Industrial Buildings Totaling 1.25 MSF

On Jun 15, 2016

Matrix Development Group, a real estate investment and development company, today announced it has entered into two lease agreements totaling more than 1.25 million square feet of industrial space in New Jersey.

In April, TFH Publications, a division of Central Garden & Pet, which is a leading innovator and producer of lawn, garden, and pet supplies, finalized an agreement to lease 550,000 square feet at Matrix’s 965 Cranbury/South River Road in South Brunswick.  The company will occupy the entirety of the
state-of-the-art warehouse facility which is located less than a mile from the New Jersey Turnpike’s Exit 8A, and is recognized as one of the nation’s most active industrial markets.

Earlier this month, e-commerce giant Jet.com agreed to lease a 705,000 square foot distribution facility in Oldmans Township, Salem County.  The Hoboken-based company will occupy one of two speculative warehouse buildings in Matrix’s Gateway Business Park, strategically located adjacent to Exit 7 of Interstate 295, providing seamless overnight access to the Northeast and Mid-Atlantic regions.

“We welcome TFH and Jet.com to the Matrix family of tenants,” said Alec Taylor, Principal of Matrix Development Group.  “Each is a terrific company with whom to do business, and proof that high quality buildings beget first class tenants.”

Located just a few minutes from the New Jersey Turnpike, the 965 Cranbury/South River Road location in South Brunswick is comprised of a state-of-the-art warehouse featuring 36-foot clear heights, Early Suppression Fast Response sprinklers, generous dock doors, and plentiful car and trailer parking.  The building sits just 30 minutes from Newark Liberty International Airport and the seaport at Port Newark, the largest on the eastern seaboard and third-largest in the U.S.  The area is a major distribution hub for various Matrix clients, including Sony, Playmobil, Lenox and Volkswagen.

Gateway Business Park, located just 45 minutes outside Philadelphia, is a 3.5 million square-foot warehouse, manufacturing and distribution park that offers immediate access to the New Jersey Turnpike, Delaware, Philadelphia and Baltimore.

Gateway Business Park represents a successful public-private partnership with Salem County and Oldmans Township.  The first light industrial development in the county, it has created a model of smart growth and has consistently attracted new jobs, investments and ratables for the community.

Paul Torosian, John Gartland and Chad Hillyer of Jones Long Lasalle served as brokers on the Jet.com lease.

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