Woodbridge-based Onyx Equities LLC been granted redevelopment approval for a site in Mahwah, it announced Wednesday.
The property at 440 Franklin Turnpike is a 7.8 acre site containing a 108,000-square-foot office structure.
Onyx said the property will become “Northern Bergen County’s most modern industrial delivery, offering first generation space to operations looking to service the northern New Jersey and southern New York trade areas.”
The approved site plan includes a 120,000-square-foot warehouse and distribution facility; 6,000 square feet of office space, an Early Suppression, Fast Response fire suppression system; trailer parking; 15 tailgate doors; and two drive-ins.
Onyx said it expects to begin demolition of the existing structure in June, with the new facility ready in summer 2019.
Onyx selected JLL to lease and market the property. David Knee, executive managing director at JLL; and Christopher Hile and Dean Brody, managing directors; will lead the assignment.
“When completed, 440 Franklin Turnpike will be the only Class A, modern distribution center in this submarket,” Hile said. “This is a tremendous opportunity to lease a state-of-the-art logistics facility. The property is ideally located near major transportation routes. It is perfect for one or possibly two tenants.”
