News

MATRIX ANNOUNCES 147,000-SF EXPANSION WITHIN ITS
NORTHEAST BUSINESS PARK IN WASHINGTON TOWNSHIP, NJ

Additional Space Will Accommodate Current Tenant Lifetime Brands, Inc.

CRANBURY, NJ - Matrix Development Group of Cranbury, New Jersey announced it has received the local planning board’s approval for a 147,000-square-foot expansion at Northeast Business Park in Washington Township, New Jersey. The expansion will accommodate Matrix’s current tenant, Lifetime Brands, Inc. Matrix constructed the current 550,000-square-foot facility in 2000 and the expansion is slated to be complete in March of 2006.

"The expansion of the Lifetime Brands facility confirms that the 7A market continues to thrive as a prime location for light industrial space,” stated Alexander B. Taylor, COO, Matrix Development Group. “Matrix Development is very proud to have been able to accommodate Lifetime Brands’ expansion requirement and to continue our company’s leadership in the industrial sector.”

Northeast Business Park and Matrix’s other development at Exit 7A, Matrix Business Park, have a combined potential of 6 million square feet of additional light industrial space. Matrix recently concluded a transaction for a 1.2 million-square-foot building and land sale at Matrix Business Park at Exit 7A and has constructed more than 3 million square feet of space at the 400-acre Northeast Business Park for such leading companies as Sleepy’s, Bohrens/United Van Lines, Levits Furniture and W.W. Grainger.

Strategically situated with frontage on the New Jersey Turnpike and I-195, the two parks offer convenient access to I-295, U.S. Route 130, Route 1 and I-95. They are just 40 minutes from the Philadelphia International Airport, 50 minutes from Newark International Airport and 70 minutes from JFK International Airport. In addition, Northeast Business Park is only 40 minutes to the Philadelphia docks and 50 minutes to Port Newark/Port Elizabeth.

Lifetime Brands, Inc. is a leading designer, developer and marketer of a broad range of nationally branded consumer products used in the home, including Kitchenware, Tabletop, Cutlery and Cutting Boards, Bakeware and Pantryware and Spices. The company markets its products under some of the most well-respected and widely recognized brand names in the United States, including three Atlantis, Baker’s Advantage®, Block®, Calvin Klein®, CasaMōda™, Cuisinart®, Cuisine de France®, DBK™ Daniel Boulud Kitchen, Farberware®, Gemco®, Hershey®’s, Hoan®, Hoffritz®, Joseph Abboud Environments®, Kathy Ireland Home®, Kamenstein®, KitchenAid®, NapaStyle™, Nautica®, Pfaltzgraff®, Retroneu®, Roshco®, Sabatier®, Sasaki®, Stiffel®, :USE® and Weir in Your Kitchen™.

Over the past 23 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 three million square feet of industrial leases in the New Jersey marketplace generating thousands of jobs for the local economy.

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 of Cranbury, New Jersey announced it has received the local planning board’s approval for a 147,000-square-foot expansion at Northeast Business Park in Washington Township, New Jersey. The expansion will accommodate Matrix’s current tenant, Lifetime Brands, Inc. Matrix constructed the current 550,000-square-foot facility in 2000 and the expansion is slated to be complete in March of 2006.

"The expansion of the Lifetime Brands facility confirms that the 7A market continues to thrive as a prime location for light industrial space,” stated Alexander B. Taylor, COO, Matrix Development Group. “Matrix Development is very proud to have been able to accommodate Lifetime Brands’ expansion requirement and to continue our company’s leadership in the industrial sector.”

Northeast Business Park and Matrix’s other development at Exit 7A, Matrix Business Park, have a combined potential of 6 million square feet of additional light industrial space. Matrix recently concluded a transaction for a 1.2 million-square-foot building and land sale at Matrix Business Park at Exit 7A and has constructed more than 3 million square feet of space at the 400-acre Northeast Business Park for such leading companies as Sleepy’s, Bohrens/United Van Lines, Levits Furniture and W.W. Grainger.

Strategically situated with frontage on the New Jersey Turnpike and I-195, the two parks offer convenient access to I-295, U.S. Route 130, Route 1 and I-95. They are just 40 minutes from the Philadelphia International Airport, 50 minutes from Newark International Airport and 70 minutes from JFK International Airport. In addition, Northeast Business Park is only 40 minutes to the Philadelphia docks and 50 minutes to Port Newark/Port Elizabeth.

Lifetime Brands, Inc. is a leading designer, developer and marketer of a broad range of nationally branded consumer products used in the home, including Kitchenware, Tabletop, Cutlery and Cutting Boards, Bakeware and Pantryware and Spices. The company markets its products under some of the most well-respected and widely recognized brand names in the United States, including three Atlantis, Baker’s Advantage®, Block®, Calvin Klein®, CasaMōda™, Cuisinart®, Cuisine de France®, DBK™ Daniel Boulud Kitchen, Farberware®, Gemco®, Hershey®’s, Hoan®, Hoffritz®, Joseph Abboud Environments®, Kathy Ireland Home®, Kamenstein®, KitchenAid®, NapaStyle™, Nautica®, Pfaltzgraff®, Retroneu®, Roshco®, Sabatier®, Sasaki®, Stiffel®, :USE® and Weir in Your Kitchen™.

Over the past 23 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 three million square feet of industrial leases in the New Jersey marketplace generating thousands of jobs for the local economy.

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.