Class A Commercial Development Project
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, Kingsland Meadowlands, sitting beside the NJ Turnpike and Route 3 and just a ten-mile drive from the Lincoln Tunnel, will bring over 3 million square feet of Class A warehouse and distribution space to the Meadowlands, arguably the most sought after industrial land in the country.
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 boast an impressive background and decades of experience for industrial development in the State. Russo alone has developed over 7 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/Forsgate teamed up to prepare a thoughtful development 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 satisfy the growing needs of companies that serve 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 vertical construction of the first building in the corporate park.
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 one of the densest populations in the country. For more information on leasing please visit www.kingslandmeadowlands.com or Russo Development at 201-487-5657 for more information on this project.