Russo Development and Forsgate Industrial Partners have combined forces to bring the largest new corporate industrial park in Northern NJ to the market in 2020. When fully developed, the Kingsland Industrial Park, located beside the NJ Turnpike and Route 3 (just a ten-mile drive from the Lincoln Tunnel), will bring over three million square feet of Class A warehouse and distribution space to the Meadowlands.
After an exhaustive and competitive bidding process with the State of New Jersey, the Russo and Forsgate teams were awarded the contract to redevelop a site that had a storied but complicated history. Both companies have a long history of industrial development in the State. Russo alone has developed over seven million square feet within this jurisdiction and has a strong track record with the municipality and the local planning board.
The former EndCap site was going to be the case study in economic and city planning of what a dynamic mixed-use development could be if thoughtfully designed. Golf courses, office buildings and residential towers were planned but the project, with its original ownership structure and complicated environmental remediation, was never able to get off the ground.
Russo and Forsgate teamed up to prepare a thoughtful plan and environmental strategy. Our in-house experts and respected consultants have analyzed the project’s location and more importantly the needs of the market to develop large, big box warehouse distribution facilities to the satisfy the growing needs of companies that service consumers in Northern NJ, NYC and the Northeast. The team designed a permanent environmental remediation program with the NJ Department of Environmental Protection and arranged zoning and planning approvals and Payment in Lieu of Taxes (PILOT) programs with the host communities. The development team is currently working swiftly to move towards the groundbreaking.
At completion, the market will have a first class, state of the art distribution campus providing homes to strong national and international tenants that need to be in this strategic location surrounded by the one of the densest populations in the country.