News

MATRIX BRINGS 45 STULTS ROAD FACILITY IN
SOUTH BRUNSWICK, N.J. TO 100 PERCENT OCCUPANCY

Coaster Company of America Expands, Taking the Final 140,000 SF

CRANBURY, NJ - Matrix Development Group has announced 100 percent occupancy at its 45 Stults Road facility located in South Brunswick, New Jersey. Current tenant Coaster Company of America, a leading furniture distribution company, expanded its lease, taking an additional 140,000 square feet for a total of 439,000 square feet.

"We expect significant growth in our Northeast operations and needed the expansion space to prepare for the additional business and to be sure we meet our customers’ expectations,” commented Matthew Chen, vice president HRM administration of Coaster Furniture Company of America.

“We are delighted to continue our long-term relationship with Coaster Company of America and to meet all of their requirements,” commented Alexander Taylor, COO and principal of Matrix Development Group. “The successful redevelopment and leasing of 45 Stults Road is a testament to our organization’s continued market leadership in the industrial section, as well as the continued market demand for high-quality industrial facilities in central New Jersey.”

Matrix had purchased the 29-acre site in late 2003 and completed demolition of an existing, obsolete warehouse in 2004. The 440,000-square-foot 45 Stults Road building features a 36-foot minimum clear height, 77 modern dock door positions with two drive-in ramps, ESFR (Early Suppression Fast Response) sprinkler systems, and all new infrastructure and utilities.

Situated in the heart of the 8A distribution market midway between Boston and Washington, D.C. and midway between New York City and Philadelphia, 45 Stults Road provides an ideal location for servicing the mid-Atlantic and Northeast regions. In addition, with immediate access to the 8A interchange of the New Jersey Turnpike, the site offers easy access to Routes 1, 130 and 206 and Interstates 195, 295 and 287. Additionally, Port Newark/Port Elizabeth and Newark Liberty International Airport are in close proximity to the site.

Coaster Company of America is a California incorporated company, which began operations in 1979 as a premier importer and distributor of "ready-to-assemble" furniture and accessories in the United States and Mexico. The Company is engaged in the distribution and sales of a variety of innovatively designed, skillfully manufactured, and competitively priced products to its dealers and customers via a network of seven strategically located warehouses. The company’s major product categories include Casual Dining, Futons, Bedroom Sets, Bunk Beds, Daybeds, Occasional Tables, Metal Dining, Wall Decor, as well as Table and Floor Lamps.

Over the past 26 years, as one of the largest industrial developers in New Jersey, Matrix has built quality facilities for such leading companies as Sony, Grainger, Lenox, Associated Press and Seamans, among others. During the past 24 months alone, Matrix Development Group has signed over 3 million square feet of industrial leases in the New Jersey marketplace generating thousands of jobs for the local economy.

About Matrix Development Group

Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The Company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the Company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.

For more information on Matrix Development Group, please contact the Company’s Cranbury, New Jersey office at 732.521.2900 or visit www.matrixcompanies.com.

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CRANBURY, NJ - Matrix Development Group has announced 100 percent occupancy at its 45 Stults Road facility located in South Brunswick, New Jersey. Current tenant Coaster Company of America, a leading furniture distribution company, expanded its lease, taking an additional 140,000 square feet for a total of 439,000 square feet.

"We expect significant growth in our Northeast operations and needed the expansion space to prepare for the additional business and to be sure we meet our customers’ expectations,” commented Matthew Chen, vice president HRM administration of Coaster Furniture Company of America.

“We are delighted to continue our long-term relationship with Coaster Company of America and to meet all of their requirements,” commented Alexander Taylor, COO and principal of Matrix Development Group. “The successful redevelopment and leasing of 45 Stults Road is a testament to our organization’s continued market leadership in the industrial section, as well as the continued market demand for high-quality industrial facilities in central New Jersey.”

Matrix had purchased the 29-acre site in late 2003 and completed demolition of an existing, obsolete warehouse in 2004. The 440,000-square-foot 45 Stults Road building features a 36-foot minimum clear height, 77 modern dock door positions with two drive-in ramps, ESFR (Early Suppression Fast Response) sprinkler systems, and all new infrastructure and utilities.

Situated in the heart of the 8A distribution market midway between Boston and Washington, D.C. and midway between New York City and Philadelphia, 45 Stults Road provides an ideal location for servicing the mid-Atlantic and Northeast regions. In addition, with immediate access to the 8A interchange of the New Jersey Turnpike, the site offers easy access to Routes 1, 130 and 206 and Interstates 195, 295 and 287. Additionally, Port Newark/Port Elizabeth and Newark Liberty International Airport are in close proximity to the site.

Coaster Company of America is a California incorporated company, which began operations in 1979 as a premier importer and distributor of "ready-to-assemble" furniture and accessories in the United States and Mexico. The Company is engaged in the distribution and sales of a variety of innovatively designed, skillfully manufactured, and competitively priced products to its dealers and customers via a network of seven strategically located warehouses. The company’s major product categories include Casual Dining, Futons, Bedroom Sets, Bunk Beds, Daybeds, Occasional Tables, Metal Dining, Wall Decor, as well as Table and Floor Lamps.

Over the past 26 years, as one of the largest industrial developers in New Jersey, Matrix has built quality facilities for such leading companies as Sony, Grainger, Lenox, Associated Press and Seamans, among others. During the past 24 months alone, Matrix Development Group has signed over 3 million square feet of industrial leases in the New Jersey marketplace generating thousands of jobs for the local economy.

About Matrix Development Group

Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The Company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the Company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.

For more information on Matrix Development Group, please contact the Company’s Cranbury, New Jersey office at 732.521.2900 or visit www.matrixcompanies.com.