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Millions of Industrial SF in the Pipeline

HACKENSACK, NJ-There is no shortage of new distribution space being planned, as both ProLogis and Panattoni have multiple projects rising in New Jersey.

By Sean Ryan | Updated on January 31, 2007

(To read more on the industrial market, click here.)

HACKENSACK, NJ-Millions of sf of new industrial product will be hitting the New Jersey market soon. Two of the biggest industrial holders, ProLogis and Panattoni Development, each have multiple projects in the works for New Jersey. Representatives from both companies spoke about these projects at a dinner for the Industrial and Office Real Estate Brokers Organization held here this week.

George Hasenecz, vice president at ProLogis, said that three large projects were under way in the industrial corridors. The Elizabeth Seaport will have one million sf across three buildings. The Port Redding Business Park in Wood-Ridge will have 3.3 million sf across nine properties. Both are brownfield redevelopments, with Elizabeth’s remediation costing $20 million and Port Redding’s costing $10 million.

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