The 46/80 Logistics Center at 1150 McBride Ave. will be a 205,350-square-foot, Class A industrial-logistics and commercial building on 15.5 acres, according to a news release.
“Today was a major milestone that was five years in the making,” Jack Shulman, Stro’s director of acquisitions and capital markets, said in a prepared statement. “We are pleased to be partnering with KRE in creating one of the premier last-mile logistics facilities in northern New Jersey.”
The building’s estimated completion date is the end of the first quarter of 2022. City National Bank provided financing for the project.
“We are excited to partner with Stro Cos.,” Jonathan Kushner, president of KRE Group, said in a statement. “With its great proximity to (New York City), and unparalleled access to main highways, 46/80 Logistics Center will be a sought-after logistics facility in northern New Jersey.”
Officials at the ceremony included Woodland Park Mayor Keith Kazmark.
“Woodland Park is an ideal location for any company looking for a distribution hub,” Elliot Ferris, Stro’s director of leasing, said in a statement. “The building’s 36-foot ceilings, access to Route 46 and (Interstate) 80 and proximity to New York City create a tremendous amount of value for tenants who are looking to move goods quickly and efficiently to consumers.”