A team led by Woodmont Industrial Partners is developing a two-building, 370,000-square-foot warehouse complex at 400 Atrium Drive in Somerset. — Rendering courtesy: Woodmont
By Joshua Burd
Woodmont Industrial Partners has teamed with a major insurance company to recapitalize and acquire nearly 31 acres in Franklin Township, with plans to build more than 370,000 square feet of modern industrial space just off Interstate 287.
According to the developer, the project at 400 Atrium Drive will include a roughly 255,000-square-foot building with a 40-foot clear ceiling height, 44 loading docks and two drive-in doors. A second facility will span 115,000 square feet, featuring a 36-foot clear height, 34 loading docks and two drive-in doors.
Woodmont said the deal with the undisclosed partner, which it announced Wednesday, was its first with the U.S.-based insurance company. Construction is now underway at the site in Franklin’s Somerset section, with delivery slated for the third quarter of 2026.
Cushman & Wakefield’s John Alascio and Chuck Kohaut coordinated financing with New York Life.
“Atrium Drive illustrates Woodmont’s commitment to delivering high-quality industrial space in one of the Northeast’s most sought after markets,” said Anthony Amadeo, an executive vice president with the Fairfield-based firm. “With limited new supply expected through 2026, this strategic redevelopment is well-suited for long-term success. We’re pleased to commence our new partnership with this redevelopment that will be in strong demand upon completion. We are confident that the site’s access and connectivity to key ports and distribution networks, efficiency and modern facilities will lead to success.”
Woodmont, which is active in several major submarkets in New Jersey and throughout the East Coast, said its plans for the Atrium Drive project also call for ample surface parking spaces for cars and trailers. The firm added that the I-287/Exit 10 submarket saw more than 2.8 million square feet of leasing activity last year, thanks in part to its quick access to the New Jersey Turnpike, Newark Liberty International Airport, Port Newark-Elizabeth and the New York City metropolitan area.
Neighboring tenants, meantime, include Amazon, Nissan North America, PIM Brands, Veritiv and CRST, among others.
