Mayor Wilda Diaz announces that Home Depot U.S.A., Inc. will establish its newest warehousing facility in the City of Perth Amboy.
“We have facilitated significant expansion in the City of Perth Amboy through the redevelopment of brownfields. It has fueled job creation and economic growth in the past few years. Through the work of the Redevelopment Agency and the confidence of our investors we have attracted several outstanding businesses this past year, including Target, TheRealReal and we are pleased to welcome our latest investor, Home Depot, to Perth Amboy,” said Mayor Wilda Diaz.
Duke Reality was recently designated as the developer for the Elm Street Logistics Center. The Elm Street Logistics Center has invested over $100 million in the remediation and construction of 92 acres of modern warehouse facilities. The project is set to generate 400-600 potential new jobs and new public amenities. The Elm Street Logistics Center project, which is expected to be completed by the end of 2020, consists of both business and public property development.
This project emulates the truest form of civic responsibility and engagement. Most of Perth Amboy industrial sites are located in the outskirts of the community, a far distance from residential property. The unique feature of this particular redevelopment project is that it will create public access, near and around the commercial property at the gateway of the city.
Through this partnership, the city plans to preserve a historic structure for recreational use on the site and provide public waterfront access, including an amphitheater, public picnic area, restrooms, a senior citizen park located near our Alexander F. Jankowski Community Center and a mile-long green pathway that borders the shoreline.
As per Duke Realty’s second quarter release, “In particular, we are pleased to have executed a major transaction with one of our largest customers. We signed two leases totaling 1.3 million square feet for two build-to-suit logistics facilities for Home Depot U.S.A, Inc. The facilities are located on an in-fill redevelopment site in the Perth Amboy submarket of Northern New Jersey. Home Depot’s investment with us is part of their previously announced $1.2 billion supply-chain overhaul to enhance delivery to consumer and commercial customers in one day or less. We are pleased to continue providing customized supply chain facility solutions and service to one of our leading customers.”
On July 24, Moody’s crediting agency announced an upgrade for the City of Perth Amboy from A3 to A2. Moody’s recognized the City’s substantial industrial activity in their credit analysis and summary release.
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