Opus Buys 46 Acres for 471,200-SF Spec Building

WASHINGTON TWP., NJ-Opus East acquired 46 acres of industrially zoned land one mile east of Exit 7 of Interstate 195 here. It plans to construct a 471,200-sf speculative warehouse and distribution facility called West Manor Crossing and will break ground in March 2005.

The construction cost, including site preparation and infrastructure, is estimated at $25 million, according to C. Craig Guers, VP of the Plymouth Meeting-based mid-Atlantic regional unit of Opus Group, which is headquartered in Minnetonka, MN. He declined to disclose the cost of the land, which was acquired from a private owner.

The I-195 exit is near Exit 7A of the New Jersey Turnpike where it connects I-95 with metropolitan centers in Eastern Pennsylvania and Northeastern New Jersey. “The building will feature the signature Opus design and build quality,” says Peter Corcoran, Opus East’s director of real estate development. “It will be created specifically for the warehousing of high-value consumer products, raw materials, business consumables and other large-cube commodities.”