A rendering of Bridge Point Edison.

EDISON, NJ— Bridge Development Partners, LLC reports it has acquired a 7.47-acre property here where it plans to develop Bridge Point Edison, a 124,560-square foot industrial facility.

The Class-A facility, located at 150 Whitman Ave. in Edison, will feature 36-foot clear ceiling heights, 23 exterior docks, five trailer positions, parking for up to 62 cars, and one drive-in door. The development plan also includes two designated office spaces within the facility, each totaling 1,892 square feet.

Bridge Development expects the project will be delivered in the first quarter of 2020. The company maintains offices in New Jersey in Parsippany. Bridge Development also has operations in Chicago and Itasca, IL, Miami, El Segundo, CA and Bellevue, WA.

There is a small commercial facility on site that will be demolished to make way for the new facility. Bridge Development did not disclose the purchase price for the land parcel or the cost of the development project.

"The industrial market as a whole is seeing strong demand for space that works for users large and small with good highway connectivity, particularly as space along the Turnpike corridor becomes increasingly scarce. We selected this site due to its incredible accessibility to New Jersey/New York metro population and feel that our Bridge Point Edison design will specifically draw the attention for last-mile delivery users," says Jonathan Pozerycki, VP at Bridge Development.

Bridge Point Edison is located within two miles of the north-bound entrance and exit of Interstate 287, and within 2.5 miles of south-bound entrances and exits of I-287 – providing access to I-95 via Exit 10 within minutes. It's also near both a FedEx Ground facility and an Amazon sort facility in Edison.

Barry Cohorsky, Andrew Kirshenbaum, Barry Mayer and Arthur Hixson of NAI James E. Hanson brokered the deal for Bridge Development.

Bridge Point Edison is the latest in a series of acquisitions and developments for Bridge in the New Jersey/New York metro area. In the last 15 months, Bridge announced plans for Sunset Industrial Park in Brooklyn—the largest planned multi-story industrial development in the country—as well as Bridge Point Somerset located in Franklin Township along I-287 and Bridge Point 78 in Phillipsburg, N.J., which was recently ranked as the nation's largest industrial project of 2019.

Bridge has successfully acquired and developed more than 33 million square feet of industrial buildings/projects valued at more than $5.2 billion. Currently, Bridge has a strategic joint venture with investment partnerships managed by Banner Oak Capital Partners, L.P., a Dallas-based investment advisor.