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KEARNY, N.J. (JANUARY 25, 2008) - Russo Development, LLC, one of New Jersey’s leading developers, hosted a ribbon cutting ceremony at its Saw Mill Park development in Kearny. The ceremony celebrated the completion of a 211,000-square-foot distribution center for H .D. Smith, the country’s fourth largest national pharmaceutical wholesaler, and a 135,398-square-foot warehouse/distribution center for The Pepsi Bottling Group, the world’s largest manufacturer, seller and distributor of Pepsi-Cola beverages. Saw Mill Park, formerly a brownfield site remediated by Russo, marks the first completed redevelopment project in Kearny as well as within The New Jersey Meadowlands Commission district.
“We are very pleased to celebrate the completion of The Pepsi Bottling Group’s and H.D. Smith’s build-to-suit warehouse/distribution centers at Saw Mill Park,” stated Ed Russo, president and COO of Russo Development. “Russo Development purchased the land for Saw Mill Park in 2003, and subsequently fully remediated this site bringing new blue-chip tenants to the Town of Kearny. We look forward to continuing to attract high quality tenants that will benefit the local community of Kearny, bringing new jobs, rateables and economic investment to the region and to the entire state.”
Mayor Alberto G. Santos of Kearny added, “The town of Kearny is separated into distinct residential and commercial zones, making it an excellent place to live and work. Known for its Urban Enterprise Zone and Strategic Redevelopment Plan, Kearny is rich in national and international companies. We congratulate Russo Development on this milestone achievement and are proud to welcome The Pepsi Bottling Group, as well as H. D. Smith, to our community and look forward to them contributing to the ongoing growth of Kearny.”
The Pepsi Bottling Group’s 135,398-square-foot facility was designed by Russo Development’s in-house architect/design department while complying with Pepsi’s guideline specifications. Russo Development also fully developed the facility with its in-house construction management team. This facility directly serves customers in the Northern New Jersey market.
H. D. Smith’s 211,000-square-foot facility serves as its New York Metro regional warehousing and distribution center. To accommodate the company’s rigorous security needs, including sophisticated systems to track and safeguard pharmaceuticals as they travel from manufacturer to neighborhood pharmacy, the building is outfitted with the highest level of automation capabilities and is one of the most technologically advanced distribution facilities ever built in New Jersey.
Saw Mill Park is located in the Belleville Turnpike Redevelopment Area and an Urban Enterprise Zone. Few programs have proven more enduring and successful than the New Jersey Commerce & Economic Growth Commission’s nationally acclaimed Urban Enterprise Zone (UEZ) Program. Russo’s Saw Mill Park project is Kearny’s first major redevelopment venture in the designated area in terms of overall size and location. Saw Mill Park is ideally situated approximately three miles from exit 15W on the New Jersey Turnpike. Newark Liberty International Airport, Port Newark and access to Manhattan via the Holland and Lincoln Tunnels are all in close proximity.
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