MATRIX DEVELOPMENT GROUP ANNOUNCES 174,000 SF SALE AT
GATEWAY BUSINESS PARK IN SALEM COUNTY, NJ

Suburban Philadelphia Market Attracts Manfredi and Other Leading Corporations

OLDMANS TOWNSHIP, N.J. (February 3, 2009) – Matrix Development Group, one of the Northeast’s most respected real estate investment and development companies, has announced a 174,000 square foot land sale to Manfredi Companies at Matrix’s Gateway Business Park in Oldmans Township. Located 45 minutes from Philadelphia, Gateway can accommodate 3.5 million-square-feet of warehouse, manufacturing and distribution space in Salem County.

Manfredi Cold Storage handles fruit, vegetables and other assorted food from 22 countries serving the Eastern and Mid Atlantic territories, as well as the Midwest.

“We are thrilled to welcome Manfredi to Gateway Business Park,” said Alec Taylor, principal of Matrix. “Leading corporations throughout the region are discovering that Salem County offers a tremendous strategic opportunity to deliver goods to East Coast markets with just an overnight drive. One of Salem County’s best features is its short distance to the Philadelphia, Delaware and Baltimore markets. Location is one of the main reasons Gateway Business Park continues to attract substantial interest from leading corporations such as JE Berkowitz, Garden State Freezers and Manfredi.”

Gateway Business Park consists of 284 developable acres and offers immediate access to Exit 7 of Interstate 295. The park is within close proximity to the New Jersey Turnpike, Delaware, Philadelphia and Baltimore. All site improvements and utilities including natural gas, electricity, sewer and water, are available at the park site perimeter.

Manfredi is expected to bring new jobs to the local community. Gateway Business Park is a successful public‑private partnership with Salem County and Oldmans Township to create a model of smart growth, as well as new jobs, investment and ratables for the local community. Matrix has developed similarly successful master‑planned parks in the New Jersey/Philadelphia area, including Bishops Gate Corporate Center in Mt. Laurel and Commonwealth Corporate Center in Horsham, Pa.

Only three sites remain at Gateway Business Park – one approved for 100,000 square feet, one for 263,000 square feet and a third for up to 705,901 square feet. The light industrial development is the first of its kind in Salem County and has attracted the attention of major corporations. All utilities, including water and sewer, are available on site. The park is approved for maximum building heights of 75 feet and tax abatements are available for appropriate tenants.

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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