New warehouse coming to Flemington

Construction is underway on a new flex industrial/warehouse building that will expand available space in Hunterdon County.

Branchburg-based Larken Associates announced the start to Flemington Junction Business Center II July 2. Located at 20 Minneakoning Road in its namesake municipality, the firm anticipates completion in the fourth quarter of this year.

Core Enterprises, Larken's in-house construction team, is managing the project.

"Over the past several years, Hunterdon County has continued to emerge as a commercial hub for businesses of all sizes across a wide range of industries," said Rob Marek, executive vice president, Commercial Division, at Larken. "We are excited to bring in-demand industrial space to the local market and continue to grow our expansive commercial portfolio throughout the region."

Flemington Junction Business Center II is rising less than a mile from the initial Flemington Junction Business Center. Larken's four-building, 150,000-square-foot flex industrial space at 115 River Road is 100% leased.

A resilient market

According to Cushman & Wakefield's lookback at Q2 of this year, industrial demand persists in New Jersey.

On July 1, the commercial real estate services firm reported 5.8 million square feet of new leasing activity for the period. The mid-year total rose to 11.6 million square feet, CushWake said, for an 11.2% year-over-year increase.

Still, the announcement noted a surge in new supply. New deliveries have boosted the regional vacancy rate from a low of 1.5% in Q2 2022 to 7.6% in Q2 2024, Cushman & Wakefield said.

"The industrial market continues to show resilience with strong leasing activity and significant construction completions," commented Cushman & Wakefield Senior Research Manager John Obeid. "While the influx of new space has increased the market’s vacancy rate, the Class A segment remains robust with positive net absorption, indicating sustained demand for high-quality logistics properties."

Flemington Junction Business Center II offers a prime location, just off Route 31 with convenient access to and from Routes 22 and 202 as well as Interstates 78 and 287.

Larken said the building's design can accommodate the needs of "virtually any commercial tenant." It features:

• 32-foot clear ceiling heights



• 41-foot by 50-foot column spacing



• Heavy power



• LED warehouse lighting



• 360-degree site circulation



• Heavy floor load



• Designated loading docks and drive-ins

 

Available units start at 3,125 square feet, ranging up to the complete 50,000-square-foot area. That divisible space gives the property an edge in a market where small bay options are gaining prominence .

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