Construction is underway on Bridge Development Partners’ new industrial project in Carteret.
By Joshua Burd
Jeff Milanaik recalls reinventing his career more than two years ago, when he became a principal with Bridge Development Partners after three decades of building industrial space in New Jersey.
One of the first people he went to see was Peter Visceglia.
“I said, ‘Peter, I’ve got this new venture going. I know you’ve got some property — what do you think?’ ” Milanaik recalled. “And for those of you who know Peter Visceglia and the folks at Federal Business Centers, he stuck out his hand, we shook a hand on it and that hand stayed shook through the balance of getting this thing through.”
It was one of many acknowledgements on Friday as Milanaik and others celebrated a new 206,500-square-foot distribution center project in Carteret. With construction well underway behind them, a small crowd gathered to tout a property that will bring new life to a 10-acre former brownfield site just off the New Jersey Turnpike.
“It really supports the mayor’s vision of the redevelopment of this section of town, and we are just truly excited to be part of it,” said Milanaik, a principal with Bridge Development. “I’ve been in the industrial business for over 30 years. It’s my first opportunity to work in Carteret. We couldn’t be more thrilled.”
The roughly $30 million project, known as Bridge Point Turnpike 12, is located at 900 Federal Boulevard and sits on land owned by Federal Business Centers. Like Milanaik, Carteret Mayor Daniel Reiman acknowledged the role of Peter Visceglia and his Edison-based firm.
“Peter’s family has done so much to develop Raritan Center, so now we’re happy to have them doing so much to help develop Carteret,” Reiman said, noting that the project is part of a $1 billion development pipeline in the borough.
Milanaik also acknowledged the role of other firms involved in the project, including financing partner M&T Bank, Premier Design + Build Group, Cornerstone Architects and PS&S. Brokers with JLL have been marketing the property, a process that has picked up recently now that the precast concrete walls have been lifted at the site.
“Once you begin to get to this stage of a building, it’s amazing to me how much activity we attract every time as far as potential users of the building,” Milanaik said.
