A long-dormant and formerly contaminated site in Sayreville, once home to gunpowder and chemical plants, is finding new life under a development that will add more than a million square feet of modern industrial space to the market in Central Jersey. The three-building Arsenal Trade Center also promises to bring new jobs and ratables to the Raritan Bay region. Experts say that, while players like Amazon are stepping back from warehouse and logistics expansion in the state, the market for such properties remains robust.
Construction is underway on a project that will bring nearly 1.1 million square feet of high-end industrial space to a 74-acre former chemical plant site in Sayreville.
A joint venture has closed on a 74-acre parcel in Sayreville, where it now plans to develop nearly 1.1 million square feet of modern industrial space across three buildings.
Industrial rents in New Jersey and other top markets are rising at unprecedented rates, leaving investors hungrier than ever for properties across the asset class.