Mayor Helmin J. Caba joins company executives at groundbreaking ceremony for premier logistics hub delivering in Q2 of 2024
Perth Amboy, N.J. (April 19, 2023) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, broke ground last week on BridgePort II, the company’s planned 1,043,600-square-foot, state-of-the-art logistics park in Perth Amboy, N.J. Mayor Helmin J. Caba, City Council members, the Perth Amboy Redevelopment Agency, and other project partners joined Bridge at the groundbreaking ceremony.
“Our ongoing partnership with the city resulted in a seamless approvals process, and we look forward to working alongside Mayor Caba and the City to bolster the local economy, showcase the region’s talented workforce, and create new job opportunities,” said Jeff Milanaik, Partner, Northeast Region, at Bridge Industrial. “After the success of BridgePort I, we look forward to continuing to harness this community’s untapped potential and attracting some of the East Coast’s most prestigious light industrial tenants.”
The new development comes after the delivery of BridgePort I, a 1.3 million-square-foot distribution park consisting of three buildings. Building on this success, BridgePort II is expected to create 500 construction jobs, with the addition of approximately 1,500 projected new jobs from prospective tenants. Through the PILOT Program, BridgePort II will generate $2.9 million annually in gross taxes for the City of Perth Amboy.
BridgePort II will be comprised of two state-of-the-art logistics facilities — Building A, totaling 243,600 square feet and Building B, totaling 800,000 square feet — across the 73-acre site. Upon completion, Building A will feature 36-foot clear heights; 48 dock spaces; 121 spaces for trailer storage; 125 total parking spaces; two drive-in doors; and 8,184 square feet of dedicated office space. Building B will feature 40-foot clear heights; 168 dock spaces; 181 trailer storage spaces; 368 total parking spaces; four drive-in doors; and 24,120 square feet of office space. BridgePort II is expected to be delivered in Q2 of 2024.
The development is strategically situated directly off of I-95’s Exit 10, providing easy on- and-off access to the New Jersey Turnpike and eliminating the need for trucks to travel through the town – minimizing impact on city roads and the local community.
BridgePort II is one of only a few large-scale distribution facilities currently in the Perth Amboy region. That, in addition to the extremely low vacancy rates seen across Northern New Jersey and the flexible design of the development, allows it to meet the demands of a variety of potential users, but particularly those of large e-commerce and retail tenants.
Bridge continues to seek opportunities to acquire and develop modern industrial facilities in the most supply-constrained core infill industrial markets that can meet the steady demand for last-mile and next-day delivery.