State Officials Promote 6M-SF W/D Initiative

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

CARTERET, NJ-The state has had an effort in place to get more of New Jersey’s port-adjacent land developed, and now that effort has some marketing teeth. Several developers, state agencies and the state’s largest utility are all behind an effort dubbed the Portfields Initiative that could result in as much as six million sf of new W/D space over the next several years, over and above what’s already under construction.

The developers involved include Panattoni, which has gotten the jump with construction of its iPort 12 project here. As reported by GlobeSt.com, the under-construction project encompasses 1.2 million sf on 113 brownfield acres at Exit 12 of the New Jersey Turnpike. Other developers on board include Matrix, ProLogis, the Morris Cos., IDI and River Terminal Development.