Bridge Development Partners acquires 103-acre site for dev.
Perth Amboy, NJ — Bridge Development Partners purchased ePort Logistics Center in Perth Amboy. As a developer of investment-grade buildings and business parks, the company acquired the 103-acre site for the purpose of developing 1.3 million s/f of speculative class A warehouse and distribution space. The industrial park will feature three buildings located at 980 High St., 1000 High St. and 960 High St., comprised of 718,200 s/f, 354,250 s/f and 220,200 s/f, respectively. Bridge will commence construction immediately and deliver the buildings in 2016.
“We are excited to have the opportunity to acquire such a large tract of land in one of the busiest markets in the country. The ability to construct 1.3 million s/f of distribution space on one property in such a mature market as NJ doesn’t come along every day. The project when complete will enable companies located in the park almost instantaneous access to the largest consumer market in the US,” said Jeff Milanaik, principal at Bridge Development Partners. CBRE Group Inc. arranged the sale of ePort Logistics Center with Michael Hines, Brian Fiumara and Brad Ruppel, of CBRE National Partners, and Monahan and Noah Balanoff, of CBRE’s New Jersey office. The CBRE team represented the development site’s former ownership in the transaction.