A development by Accordia will bring a two-building, 503,841-square-foot industrial park to Lenel Road in Roxbury. — Rendering courtesy: Accordia
By Joshua Burd
Accordia is eyeing a third-quarter groundbreaking for more than 500,000 square feet of new industrial space in Roxbury, having secured a key approval for the project from local officials.
Known as Parkview Business Center, the development will occupy 106.48 acres just north of Interstate 80 and directly off Route 46, according to the firm. Plans call for two buildings on Lenel Road, one with 322,842 square feet and another with 180,999 square feet.
“This announcement is the culmination of close to seven years of tireless work behind the scenes to get this project off the ground,” said Greg Wovna, senior vice president for development with Fairfield-based Accordia. “We were fortunate to work with a great team that included the seller and the township officials, to solve some almost insurmountable challenges.”
In a news release, the firm said Building A will have 10,990 square feet of office space, 58 loading docks, four drive-in doors and parking for 96 trailers and 232 cars. Building B, the smaller building, will have 7,100 square feet of office space, 34 loading docks, two drive-in doors and parking for 49 trailers and 116 cars.
Jason Bogart, an Accordia principal, noted that the rate of new commercial real estate construction in Morris County has slowed, but demand for the space continues to be robust.
“There’s more than 33.4 million square feet of industrial space in Morris County with a vacancy rate still below the tipping point for new construction,” Bogart said. “By the time the existing new construction supply is absorbed, we will be delivering Parkview Business Center to the market.
“There are no new construction starts in Morris County right now, and the vast majority of industrial spaces in Morris County — most of which are light industrial or flex space — were constructed between the 1960s and 1980s,” Bogart said. “At the market’s current absorption rate, Parkview Business Center is poised to be one of the most in-demand industrial properties in North Jersey.”
Parkview Business Center will be just off Exit 28 of I-80 and off North Frontage Road, which connects to Route 46. The site is also minutes from routes 206 and 10, creating additional access points for manufacturers, retailers and other businesses that truck their goods across New Jersey, into Pennsylvania and New York and throughout the United States.
“Location is key to a successful industrial project, and the center has the advantage of immediate highway access that simplifies logistics,” Bogart said.
