Bridge Development Partners LLC broke ground this week on a planned 4 million-square-foot logistics park in Phillipsburg and Lopatcong Township.
Bridge Point 78 is expected to create thousands of jobs in the region through construction and logistics operations at a 381-acre former Ingersoll-Rand manufacturing site in Warren County.
“For the first time since Ingersoll-Rand vacated this massive site decades ago, it is officially on its way to once again becoming a beehive of industry for the region,” Jeff Milanaik, partner – Northeast region, for Bridge Development Partners, said in a prepared statement. “The necessary approvals have been secured and old buildings have been razed, and, now — as evidenced by the construction operations that you see onsite today — this project is moving forward with Bridge Development Partners at the helm.”
Executives from Bridge Development and general contractor PREMIER Design + Build Group LLC were joined at the event by Phillipsburg Mayor Stephen R. Ellis, Lopatcong Mayor James E. Mengucci and others.
“We stand here today at a turning point for both the town of Phillipsburg and Lopatcong Township,” Ellis said in a statement. “We are at the start of a rebirth of the economic vitality of our towns. Coming are construction jobs for our residents. Coming are permanent jobs in warehousing and transportation of goods. Coming is remediation of environmental problems on the site. Coming are ratables that make our town more affordable for residents.”
A CBRE industrial leasing team of William Waxman, Mindy Lissner and Steven Beyda in New Jersey, as well as Vincent Ranalli, Joe McDermott and Jake Terkanian in Pennsylvania, will market the site.
“I am very excited to have this project get started, and am hoping that it will be the start of a revitalization — not only for Lopatcong, but for the entire surrounding region,” Mengucci said in a statement. “The team at Bridge has been great to work with, and I am looking forward to continuing a great working relationship with them.”