A rendering of the First Bordentown Logistics Center, a speculative 208,000-square-foot industrial project by First Industrial Realty Trust Inc. at 445 Rising Sun Road in Bordentown — Courtesy: NAI Mertz
By Joshua Burd
A developer has purchased a 20-acre parcel in Bordentown, where it plans to build more than 200,000 square feet of new logistics space near the junction of two major highways.
According to NAI Mertz, which brokered the sale, First Industrial Realty Trust Inc. is eyeing a late 2022 delivery for the project at 445 Rising Sun Road. The development will feature 36-foot clear ceiling heights and other modern features, capitalizing on a location just south of Route 130 and less than a mile from Interstate 295.
NAI Mertz Senior Vice President Jonathan Klear and Executive Vice President Fred Meyer represented a private owner in the sale of the parcel.
“The site for this Class A building is an ideal location for distribution and industrial users given its close proximity to major highways offering many transportation options, and a local labor pool of hundreds of thousands of talented and eager workers,” Klear said.
The speculative 208,000-square-foot project will add to First Industrial’s portfolio in the state, with additional features including 45 trailer stalls, 42 dock doors and 2,950 square feet of office space. The company has also retained Klear and Meyer as its leasing team in conjunction with Cushman & Wakefield Vice Chairman Jules Nissim and Senior Associate Kimberly Bach.
“First Industrial is a longtime client of our firm and we have built a strong relationship with their team of professionals for many years,” Meyer said. “They always deliver quality products and we are thrilled for the opportunity to bring a quality tenant to their building. Our expert knowledge of the area and local business climate will be sure to help make this project a complete success.”
In announcing the project, NAI Mertz also cited the parcel’s location two miles from Exit 7 of the New Jersey Turnpike and 7.5 miles from the Pennsylvania Turnpike.
“First Bordentown Logistics Center will be a great addition to our New Jersey portfolio and will enable us to meet strong tenant demand in this significant logistics corridor that serves the East Coast consumption zone,” said John Hanlon, executive director of First Industrial Realty Trust. “We have enjoyed success with the three nearby buildings we already own totaling 453,000 square feet and will continue to explore new investments in this high growth market that is benefiting from strong highway infrastructure and a talented and diverse local workforce.”