With Bridge Industrial’s demolition of the former Ingersoll Rand manufacturing plant, located off I-78 in both Phillipsburg and Lopatcong, and the construction of the 2.2-million-square-foot, $220-million Bridge Point 78 Phase I, Warren County has become a new hub for distribution and logistics. This rehab of a long vacant and environmentally challenged site marks a significant milestone for the region in anticipated economic and job benefits.
The vision for the 365-acre property is to meet the growing demand for logistics and distribution users across New Jersey and the Northeast. Collaborating with municipal officials and the community, Bridge created a comprehensive site redevelopment plan and worked with the Phillipsburg and Lopatcong mayors to execute two separate Payments in Lieu of Taxes (PILOT) abatement agreements, helping to inject new tax revenues to both communities.
//njbmagazine.com
