By Joshua Burd
A developer has assembled some 38 acres in Woodbridge that could house nearly 750,000 square feet of new industrial space, following a series of deals by The Blau & Berg Co.
The brokerage firm this month announced Stalwart Equities’ purchase of 12.2 acres on Pennval Road, in an area just south of the New Jersey Turnpike and along the township’s southern border. The property is also adjacent to 26 acres purchased by the developer in an earlier deal, forming a site that township officials have long targeted for redevelopment.
Stalwart’s plans and development timeline were not immediately clear this week, but Blau & Berg noted that the assemblage is several years in the making, with the town’s plan currently calling for a 397,000-square-foot warehouse on nearby Cutters Dock Road and an additional 350,000 square feet earmarked for Pennval Road.
“This project has taken many years to achieve, with so many obstacles between the township, multiple owners, environmental concerns and wetland issues,” said Brad Jacobs, a senior director with Blau & Berg. “Once completed, it will be a sizable industrial development for the New Jersey market and is perfectly situated in the middle of the state between exits 11 and 12 on the New Jersey Turnpike, with access to all major highways as well as New York City and Philadelphia. This will additionally serve as a big win for the township of Woodbridge, finally bringing a quality industrial hub to an area that was long overdue and in need of redevelopment.”
The groundwork for the project began five years ago, when Jacobs started working with both Stalwart and the owners of three adjacent properties totaling 26 acres on Cutters Dock Road, according to a news release. At the same time, Blau & Berg Senior Director Tamara Blau represented the purchaser and Executive Director Brian DiPinto represented the seller.
Jacobs and Blau subsequently represented the seller and buyer in the off-market trade of the additional 12.2 acres Pennval Road, the news release said. The firm added that there is additional acreage nearby that may become part of the ongoing project.
The full site includes a series of lots wedged between an NJ Transit rail line to the west and the Woodbridge River to the east. Township officials have sought for more than a decade to draw investment to the site, seeking to revitalize aging industrial properties and tap into the booming demand in the region for new warehouse and logistics space.