News

MATRIX DEVELOPMENT GROUP’S
PERTH AMBOY BUSINESS PARK REACHES 100% LEASED

Matrix Signs Final 180,000 Square Feet of Leases

CRANBURY, NJ - Matrix Development Group announced that it has closed on two leases totaling 184,000 square feet at Perth Amboy Business Park, a 450,000-square-foot, two-building industrial redevelopment in Perth Amboy, New Jersey. Prestige Windows, a manufacturer of blinds and window treatments, signed a long-term, 134,000-square-foot lease. Sara Max, an apparel company, just moved into a 50,000-square-foot space. The two transactions bring the redevelopment to 100 percent occupancy.

“We are delighted to have consummated these two lease transactions at Perth Amboy Business Park,” commented Alexander B. Taylor, COO, Matrix Development Group. “The successful redevelopment and leasing of this project demonstrates that New Jersey’s urban centers are creating jobs, new investment and long-term economic viability. Perth Amboy is a unique place and is leading the way in New Jersey’s push for urban revitalization and Matrix is proud to be playing a role in the city’s exciting transformation.”

Located on the southeast corner of Amboy Avenue and Mauer Road in Perth Amboy, Perth Amboy Business Park is situated on a 26-acre parcel of land formerly occupied by Chevron’s Perth Amboy Asphalt Refinery. The $20 million redevelopment project commenced in March 2004 with a 100,000-square-foot commitment from Shalom, Inc.

Gary Green of Resource Realty represented both Sara Max and Prestige Windows in their respective transactions.

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 their website at www.matrixcompanies.com.

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CRANBURY, NJ - Matrix Development Group announced that it has closed on two leases totaling 184,000 square feet at Perth Amboy Business Park, a 450,000-square-foot, two-building industrial redevelopment in Perth Amboy, New Jersey. Prestige Windows, a manufacturer of blinds and window treatments, signed a long-term, 134,000-square-foot lease. Sara Max, an apparel company, just moved into a 50,000-square-foot space. The two transactions bring the redevelopment to 100 percent occupancy.

“We are delighted to have consummated these two lease transactions at Perth Amboy Business Park,” commented Alexander B. Taylor, COO, Matrix Development Group. “The successful redevelopment and leasing of this project demonstrates that New Jersey’s urban centers are creating jobs, new investment and long-term economic viability. Perth Amboy is a unique place and is leading the way in New Jersey’s push for urban revitalization and Matrix is proud to be playing a role in the city’s exciting transformation.”

Located on the southeast corner of Amboy Avenue and Mauer Road in Perth Amboy, Perth Amboy Business Park is situated on a 26-acre parcel of land formerly occupied by Chevron’s Perth Amboy Asphalt Refinery. The $20 million redevelopment project commenced in March 2004 with a 100,000-square-foot commitment from Shalom, Inc.

Gary Green of Resource Realty represented both Sara Max and Prestige Windows in their respective transactions.

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 their website at www.matrixcompanies.com.