Woodmont Industrial Partners, in partnership with EverWest Real Estate Investors, announced Tuesday the start of construction at South Brunswick’s 461 Ridge Road, an existing 145,000-square-foot industrial facility that will undergo a complete renovation and a 65,000-square-foot expansion.
The project is slated for completion in the summer of 2023.
Upon completion, the property will feature ample surface parking, 30 loading doors, four drive-in doors and 32-foot ceiling heights within the expanded areas.
Woodmont and EverWest acquired the 12-acre site in December 2020.
David Blitt and Eli Harari of Bussel Realty Corp. will serve as the property’s exclusive listing brokers.
Woodmont Executive Vice President Anthony Amadeo said the need for the facility is there.
“New Jersey’s Exit 8A submarket affords access to 33% of the U.S. population in a 24-hour drive time, making it an ideal location for companies looking to decrease transportation time and costs,” he said. “We truly value our relationship with EverWest and are proud to partner with them on this project to further contribute to the supply of quality industrial space in a highly resilient market that continues to be in high demand.”
Krystal Arceneaux, EverWest’s head of asset management, agreed.
“Real estate and leasing fundamentals in this market remain strong, and EverWest is looking forward to the delivery of several successful projects with Woodmont in 2023, including 461 Ridge Road,” she said.
Over the past year, Woodmont has executed several key acquisitions in the most active industrial growth markets in the country, adding approximately 6 million square feet to its portfolio. The team remains extraordinarily active in Northeastern states, including New Jersey, New York, and Pennsylvania, as well as Florida and Texas, with over 11 million square feet in its active pipeline for development and/or renovation.
EverWest currently manages 890,522 square feet of industrial space in New Jersey and New York, with an additional 646,805 square feet currently under development. 461 Ridge Road marks the fourth partnership for Woodmont and EverWest, along with projects in Franklin Township, Rahway and Woodbridge.
