Morvay is planning a late 2026 delivery for a new 68,000-square-foot industrial building at 2530 Kuser Road in Hamilton Township and a 45,000-square-foot facility at 110 North Gold Drive in Robbinsville. — Rendering courtesy: Morvay
By Joshua Burd
The developer of two shallow-bay industrial buildings under construction in Mercer County has closed on $15.4 million in financing for the projects.
The borrower, Morvay, said ConnectOne Bank provided the loan in connection with what will be a combined 113,000 square feet near New Jersey Turnpike Exit 7A. Construction is underway on both projects, which include a 68,000-square-foot facility at 2530 Kuser Road in Hamilton and another 45,000 square feet at 110 North Gold Drive in Robbinsville.
“The shallow-bay industrial market remains one of the most resilient and sought-after asset classes in today’s market,” said Michael Birch, vice president for CRE lending at ConnectOne Bank. “The Hamilton and Robbinsville locations provide unmatched regional last-mile logistics at the nexus of the I-195, I-95 and I-295 corridors. It was an absolute pleasure working with the experienced and forward-thinking Morvay team to bring this transaction across the finish line. The Morvay team ran an incredibly smooth process, and we are proud to be their lending partner on these developments.”
According to a news release, the privately held developer acquired both sites in June 2025 from an institutional owner that had secured approvals before shifting its focus toward larger-scale opportunities. That provided a chance to meet demand from tenants seeking modern facilities between 10,000 and 50,000 square feet, the firm said, as automation, robotics and changing supply chain strategies place greater value on efficient, well-located shallow-bay properties.
Positioned between New York City and Philadelphia, with immediate access to Interstate 95, the developments are designed to serve a wide range of users, including building suppliers, technology companies, pharmaceutical firms, research and development operations and regional distributors, the news release said. Completion is slated for October and December 2026, respectively.
“We believe industrial real estate is entering its next evolution,” said David M. Rottenberg, Morvay’s founder and managing principal. “Companies are demanding smaller, taller, smarter, modern facilities in exceptional locations, and we believe that trend will continue for years to come. These projects represent exactly the type of assets we want to own for decades.”
The firm noted that, at the Robbinsville site, it recently expanded the project from 32,000 to 45,000 square feet, increasing rentable area by some 40 percent and substantially improving the property’s long-term value. It credited general contractor GWG and brokerage partner David Zimmel for their collaboration in advancing both developments from acquisition through execution.
“Complexity creates opportunity,” Rottenberg said. “We’re willing to get our hands dirty when others walk away because solving difficult problems is often where the greatest value is created.”
Both buildings are already generating strong leasing interest, he said.
