The unrelenting demand for industrial space has fueled new construction across the country — and New Jersey is home to what will be the largest project of the year.
At least, that’s according to a new report by Yardi Matrix, a commercial real estate data platform. The research service highlighted a four-building, 2.18 million-square-foot development in Phillipsburg — the first phase of what’s known as Bridge Point 78 — as the nation’s top industrial project that is underway and slated for delivery in 2019.
Its developer, Bridge Development Partners, is projected to deliver the buildings in December as part of a plan to transform a sprawling former Ingersoll-Rand manufacturing complex. At full build-out, the 380-acre complex will comprise seven buildings spanning 3.8 million square feet along Route 22, straddling Phillipsburg and neighboring Lopatcong.