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Matrix Sold 1M SF in Salem County

OLDMANS TOWNSHIP, NJ-Matrix Development Group has sold approximately 1.2 million square feet of land at its Gateway Business Park here to two different companies.

By Maria Wood | Updated on February 09, 2009

OLDMANS TOWNSHIP, NJ-For an undisclosed price, Matrix Development Group has sold roughly 1.2 million square feet of land at its Gateway Business Park in this Philadelphia suburb. In the larger of the two deals, National Freight Industries acquired one million square feet at the Salem County, NJ-complex. National Freight is a conglomerate of companies that serve the supply chain logistics industry.

“This lease is terrific news for the local economy and will bring a vast supply of jobs and ratables to the area,” says Matrix principal Alec Taylor.

The other deal involved a 174,000-square-foot land sale to Manfredi Cos., which handles fruit, vegetables and assorted food from 22 countries. It distributes its products along the Eastern Seaboard, the mid-Atlantic and the Midwest. Others tenants at the complex include Garden State Freezers Inc., Goya Foods and JE Berkowitz LP.

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