BridgePoint 78 in Phillipsburg and Lopatcong — Courtesy: Bridge Development Partners
By Joshua Burd
Bridge Development Partners is set to kick off the next piece of its sprawling industrial park in Warren County, where it plans to add nearly 1.7 million square feet.
The developer said phase two of its Bridge Point 78 project will include buildings of 1.4 million square feet and 262,500 square feet, with modern features and easy access to Interstate 78. Work at the 100-acre site along Route 22 in Phillipsburg began in December, with vertical construction slated to kick off this summer and delivery slated for the first quarter of 2022.
The work will follow the project’s four-building, 2.2 million-square-foot first phase, which Bridge sold to PGIM Real Estate for $275 million after luring several high-profile tenants.
“Phase I of this project was a tremendous success, and we’re eager to see the same positive response from national and global companies looking for a headquarters-quality warehousing facility as part of Phase II,” said Jeff Milanaik, partner of Bridge’s Northeast Region. “Bridge sees this project as an opportunity to expand our work transforming this rural region of New Jersey into one of the most active logistics hubs in the country, and with construction underway, we look forward to turning that vision to reality.”
Existing tenants at Bridge Point 78 include the Japanese clothing company UNIQLO, lawn care manufacturer ScottsMiracle-Gro and beverage distributor Mark Anthony Brands. The developer noted that the project helped solidify Phillipsburg, Lopatcong and the surrounding rural region as a prominent logistics hub with strong potential for continued growth, adding that phase one also earned NAIOP New Jersey’s Industrial Deal of the Year award in 2020.
The two new buildings will have 36- to 40-foot clear ceiling heights, single- and cross-docked loading configurations and ample parking for trucks and cars. At full build-out, Bridge Point 78 will consist of six buildings totaling 3.86 million square feet.
Bridge sells 2.2 million sq. ft. Phillipsburg industrial portfolio to PGIM for $275 million
