A modern, flexible distribution facility would replace a dilapidated New Brunswick Avenue warehouse under a proposal presented to the Redevelopment Agency last month.
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Stephen Santola, executive vice president and general counsel of Woodmont Properties, presented a concept to the Redevelopment Agency during its Jan. 24 meeting for the property at 329 New Brunswick Ave.
Executive Director Robert Landolfi said it might be the first time in recent memory, maybe ever, that a distribution proposal came before the agency. The mayor had conversations with Redevelopment Agency Chairman Armando Sanchez about a year ago to pursue this type of development, he added. “It’s great in terms of a ratable because it’s a very minimal draw on municipal services. So the ROI [Return On Investment] for the city is very favorable,” Landolfi said.
The Planning Board in October declared the 26-acre property in need of redevelopment. A redevelopment plan for the site envisions the eventual demolition of the existing, one-story, 200,000-square-foot warehouse.
Woodmont envisions the site as”a pretty straight forward” flex distribution facility – a “spec” building – with a small component of office space. Santola said they want to have Class A tenants, which would need an adjustment to the existing two-story/35-foot height limit either via the Zoning Board of Adjustment or a change in the ordinance. “We went the redevelopment route,” Santola said. City Council approved a redevelopment plan that includes increased height. An application to subdivide the property for Building A would come before the Planning Board “sooner rather than later,” Santola said.
“These size buildings are really in the sweet spot of the market,” Santola said. While the “big boomers” of 1 million square feet or more are great for the state and redevelopment, he said the 50,000 to 200,000-square-foot buildings are “gobbled up right away.”
Class A buildings get the best rents and thus, the best users who take care of the building and the property, Santola said. Their last project in Woodbridge set a market record. “I think this will do just as well.”
Woodmont Industrial Properties has delivered several million square feet into the market since Woodmont Industrial Partners was created in 2010, Santola said. Woodmont has 2 million square feet in the pipeline or under construction in New Jersey, Lehigh Valley and West Palm Beach, Fla., including two completed in Woodbridge, one under construction in South Amboy, and finishing another in South Brunswick.
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I was hoping that they would get rid of the warehouse and do something Residential remember we have the Newbrunswick Ave bridge that the tractor trailers cannot fit under which always causes an issue here at precious pumpkins. Learning Academy when they U-turn on the grass and destroy the property. Also when they U-turn around the back of the building and they’re overweight, trailers, crack, and break up the blacktop Also when they follow their GPS and it brings them through the Thorn St Residential neighborhood these are all things that need to be considered before rebuilding as a warehouse facility please thank you .