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PRESSROOM "GlobeSt.com EXCLUSIVE: Rockefeller, IDI Buy 77-Acre Development Site" by Eric Peterson BORDENTOWN, NJ-The New York-based Rockefeller Group Development Corp. and the Atlanta-based IDI have teamed up to buy a 77-acre development pad within Central Crossings Business Park here, GlobeSt.com has learned. Seller KOR Cos. of Wall Twp., NJ will continue to own the five other sites within the park, which is located at Exit 7 of the New Jersey Turnpike. Read More... "Industrial Leasing Increases Sharply in Quarter" by Antoinette Martin NEW JERSEY'S market for industrial property continued to show some vigor in this year's first quarter — especially compared with the state's lackluster office property market. While the pace of office leasing slowed to sluggish, and even nil, in some areas of the state in the quarter, industrial leasing outpaced last year's level. A total of 6.7 million square feet was leased, up from 3.7 million square feet in the first quarter of 2002, according to Cushman & Wakefield, the real estate services company. Read More... KOR Slates 1.65M-SF Industrial Development BORDENTOWN, NJ-With the supply of land just about dried up in the fabled New Jersey Turnpike Exit 8A industrial submarket, especially in the wake of the big box deals that have come down in recent months, KOR Cos. has set its sites a little further south along the Turnpike. Specifically, the Wall Twp., NJ-based firm has just announced that it will develop Central Crossings Business Park in this Burlington County town, with a projected build-out of some 1.65 million sf. Read More... "Where Behemoths Can't Wait to Build" by Shankar P. From Home Depot to Daimler-Chrysler, users of industrial space head for the Turnpike. The states industrial space markets are displaying a burst of energy, even as office space construction has come to a near standstill. "It's counter-cyclical, because companies are consolidating their eastern region distribution facilities as cost saving measures," says Harry Kantor, CEO of Wall developer KOR Cos. Read More... "C&W Gets Assignment for 1.65M-SF Industrial Park" by Eric Peterson BORDENTOWN, NJ-KOR Cos., based in Wall Twp., NJ, has tapped Cushman & Wakefield of New Jersey as exclusive leasing agent for it Central Crossings Business Park. At build-out, the 170-acre project will encompass an estimated 1.65 million sf of warehousing and distribution space. Read More... "Work Starts on 1.65M-SF Industrial Park" by Eric Peterson BORDENTOWN TWP., NJ-It was first announced back in February, and now the projected 1.65 million-sf Central Crossings Business Park has taken its first concrete step forward, literally, with an official groundbreaking. In an event attended by state and local governmental officials, Harry Kantor, president and CEO of developer KOR Cos., carried out the ceremonial spadework to kick off development of the sprawling project. Read More... |
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