By Joshua Burd
The site of former chemical factory on Route 46 in Ridgefield is up for sale, as its longtime owner nears the end of an environmental cleanup meant to pave the way for redevelopment.
The nearly 19-acre site, located just a half-mile from the New Jersey Turnpike, was home to the Pfister Chemical factory from the 1930s through the 1990s. The company announced last week that it was finalizing its environmental remediation program, touting the site as one of Bergen County’s largest remaining development parcels.
The site’s 17 current as-of-right uses, which include industrial, warehouse, retail, office and a variety of public space uses, were expanded recently when Ridgefield borough officials declared it an area in need of redevelopment.
“As the owner of the site for more than 85 years, it is extremely gratifying to arrive at a point where it is ready to transition to its next use,” said Dr. James Bendelius, whose great-grandfather purchased the site to expand his thriving chemical business.
A brokerage team from Newmark Knight Frank is marketing the Pfister site. NKF Executive Managing Director Steven Schultz noted its location near the Turnpike and only four miles from the George Washington Bridge, hailing it as “the most exciting real estate opportunity in Bergen County.”
The marketing team also includes NKF Managing Director Brian Schulz and Executive Managing Director Kevin Welsh. They touted the soaring demand for e-commerce, fulfillment, food distribution and other industrial uses in northern New Jersey.
“The combination of intense requirements for modern industrial buildings with (32-foot) height clearance and the lack of land to supply them has resulted in tremendous velocity in the warehouse market,” Schulz said. “In particular, the Meadowlands industrial sector is incredibly hot right now and even among the best located sites, this tract minimizes delivery times to New York City.
“Recent speculative developments have been leased before completion and other build-to-suit users have gobbled up sites throughout the Meadowlands region.”