Woodmont, Sagard complete upgrades at Exit 8A industrial space

Woodmont Industrial Partners and Sagard Real Estate recently celebrated completing a multimillion-dollar capital improvement program in South Brunswick that increased the property's footprint to 210,000 square feet of Class A space.

Debuting in June, the project located at 461 Ridge Road in Middlesex County first brought substantial upgrades to the site's existing, 145,000-square-foot facility. Then, phase two construction added a 65,000-square-foot, ground-up expansion.

The accessible site is less than 5 miles from Exit 8A on the New Jersey Turnpike. That makes it well-situated for companies trying to enter and access the region. The Exit 8A submarket has one of the tightest vacancy rates statewide. For the first quarter of the year, CBRE put the figure at 3.0% .

"With access to 33% of the U.S. population within a 24-hour drive time, New Jersey's Exit 8A submarket continues to be a prime location for tenants across industries, from big box retailers like Home Depot, Amazon and Costco, to specialized users, such as biotech and pharmaceutical companies," commented Woodmont Executive Vice President Anthony Amadeo. "We're pleased to announce the successful delivery of another project with our valued partner Sagard Real Estate.

"The Northeast industrial market continues to present strong fundamentals and opportunities, and we look forward to continuing to expand our presence in the region," Amadeo added.

Better together

Work began on the South Brunswick propert y in January 2023, when Sagard was still EverWest Real Estate Investors . According to the partners, it represents their fourth collaboration. Franklin Township, Rahway and Woodbridge host the other projects.

"The Ridge Road building has undergone a remarketing transformation into a state-of-the-art facility designed to meet the deep tenant demand in the Exit 8A submarket," said Krystal Arceneaux, senior managing director, head of asset management, Sagard Real Estate.

In May, Fairfield-based Woodmont announced the delivery of 30,000 square feet of upgraded space in Lyndhurst . Meanwhile, construction is underway on a 152,000-square-foot property in South Amboy in partnership with Joseph A. Jingoli & Son Inc. According to Woodmont, it has approximately 8 million square feet of industrial space in its active pipeline. Woodmont Industrial Partners is a joint venture between vertically integrated real estate development and management company Woodmont Properties and Romark Logistics.

Real estate investment advisor and operator Sagard manages 2.6 million square feet of space in the region.

JLL Vice Chairman David Knee, Senior Managing Director Gary Politi and Senior Associate Michael Viera serve as leasing brokers for 461 Ridge Road.

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