It was a pair of celebrations for Denholtz Properties this week, as the company cut the ribbon on one flex/industrial building in Tinton Falls and broke ground for another.
The developer said in a news release that it marked the occasions at the two-building industrial development, opening the 26,400-square-foot 150 Tornillo Way and starting the 24,000-square-foot 151 Tornillo Way. The properties are located on a seven-acre site straddling the road.
“Although big-box industrial construction tends to dominate the industrial discussion, the flex/industrial asset class continues to be a crucial component of our regional economy,” CEO Steven Denholtz said in a prepared statement. “Equidistant to both New York City and Philadelphia amidst a market experiencing constrained supply of modern industrial space, Tinton Falls represents our ideal target market for flex/industrial new construction.”
The 150 Tornillo Way building features 11, 2,400-square-foot units broken down into 1,920 square feet of warehouse space and 480 square feet of office space. The property is currently 82% leased to a variety of tenants.
The building at 151 Tornillo Way, which will share an outside look with its neighbor, will eventually include seven units ranging from 2,400 to 4,440 square feet. Construction is scheduled for completion later this year.