The new Oakmont office will be located at Exit 8A of the New Jersey Turnpike, one of the larger institutional submarkets in the Northeast. The office will focus on ground-up development, value-add acquisition and redevelopment opportunities. Markets to be targeted include Northern Virginia, the Baltimore/Washington, DC corridor, Central and Eastern Pennsylvania, Northern and Central New Jersey and the Greater Toronto area. The company will also investigate strategic opportunities at the Ports of New York, New Jersey and Norfolk, VA.

Oakmont Industrial Group president Richard Rider tells GlobeSt.com that the move is part of the company's long-term strategy. Oakmont does not currently have any holdings in the Northeast. "The Northeast is a critical region and we've been considering expanding into it for some time," Rider says. "The key for us was finding the right person."

Rider says the company, which is currently in negotiations with several potential deals in the region, will initially focus on Northern and Central New Jersey, and Pennsylvania. "Historically, the company has focused on ground-up development, but we're looking at some value-added deals," he says.