News

Matrix Development Group Announces New Lease with Scholastic Book Fairs at Northeast Business Park

400-Acre, 5 Million-Square-Foot Light Industrial Park Located at Exit 7A of the New Jersey Turnpike

CRANBURY, N.J. – Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, has announced a lease with Scholastic Book Fairs, the global children’s publishing, education and media outlet, at Northeast Business Park in Washington Township, N.J. Scholastic will occupy 89,625 square feet of warehouse space and 6,175 square feet of office space at 14 Applegate Drive, a 241,662-square-foot industrial building within Northeast Business Park.

Located less than one mile from the Exit 7A interchange of the New Jersey Turnpike and less than a quarter mile from Exit 7 of Interstate 195, 14 Applegate Drive is a state-of-the-art facility that includes 26-foot clear height, plentiful door positions and trailer parking and an Early Suppression Fast Response (ESFR) fire suppression system. The facility’s close proximity to major freight-moving roadways in the Northeast provides direct routes to New York City, Port Elizabeth and Newark Airport, as well as the Philadelphia docks and airport, which are less than one hour away.

“We are very pleased to have Scholastic Book Fair relocate to this outstanding facility at Northeast Business Park,” said Patrick J. Connelly, vice president of asset management for Matrix Development Group. “We are confident that the facility at 14 Applegate Drive, with its modern, flexible design and close proximity to major labor markets including Trenton, Hamilton and Mercer County in New Jersey and Bucks County in Pennsylvania, will meet’s Scholastic’s needs now and well into the future.”

The facility will feature modern racking, conveyor systems and state-of-the-art material handling equipment. Aside from fulfilling Scholastic’s warehousing and distribution needs, the space will also be used for periodic sales for school teachers, administrators and purchasing agents.

The entirety of Northeast Business Park is located within a Foreign Trade Zone, providing duty-free status for items that are exported and deferring duty payment for items that are sold in the United States. The park boasts an impressive roster of tenants, including W.W. Grainger, Lifetime Brands Inc., Sleepy’s and several regional operators. The park is contiguous to Matrix Business Park at Exit 7A, a 480-acre industrial park that includes such tenants as Mercedes Benz of America and McCaster Carr Co.

In an otherwise challenging economy and real estate market, Matrix Development Group remains one of the most active developers in the region. Most recently, Matrix purchased the former Mid-Atlantic Corporate Center, now Matrix Corporate Center, a 342,000-square-foot office, laboratory and flex space development located at Exit 8A of the New Jersey Turnpike. Matrix has also made two significant land sales at Gateway Business Park in Salem County, N.J., with National Freight Industries for 1 million square feet and Manfredi Companies for 174,000 square feet. Matrix also recently leased 44,795 square feet to Yellow Roadway Company Inc. at 15 Quakerbridge Plaza Drive, located in Hamilton Township, N.J.

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, N.J., office at 732-521-2900 or visit www.matrixcompanies.com.

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400-Acre, 5 Million-Square-Foot Light Industrial Park Located at Exit 7A of the New Jersey Turnpike

CRANBURY, N.J. – Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, has announced a lease with Scholastic Book Fairs, the global children’s publishing, education and media outlet, at Northeast Business Park in Washington Township, N.J. Scholastic will occupy 89,625 square feet of warehouse space and 6,175 square feet of office space at 14 Applegate Drive, a 241,662-square-foot industrial building within Northeast Business Park.

Located less than one mile from the Exit 7A interchange of the New Jersey Turnpike and less than a quarter mile from Exit 7 of Interstate 195, 14 Applegate Drive is a state-of-the-art facility that includes 26-foot clear height, plentiful door positions and trailer parking and an Early Suppression Fast Response (ESFR) fire suppression system. The facility’s close proximity to major freight-moving roadways in the Northeast provides direct routes to New York City, Port Elizabeth and Newark Airport, as well as the Philadelphia docks and airport, which are less than one hour away.

“We are very pleased to have Scholastic Book Fair relocate to this outstanding facility at Northeast Business Park,” said Patrick J. Connelly, vice president of asset management for Matrix Development Group. “We are confident that the facility at 14 Applegate Drive, with its modern, flexible design and close proximity to major labor markets including Trenton, Hamilton and Mercer County in New Jersey and Bucks County in Pennsylvania, will meet’s Scholastic’s needs now and well into the future.”

The facility will feature modern racking, conveyor systems and state-of-the-art material handling equipment. Aside from fulfilling Scholastic’s warehousing and distribution needs, the space will also be used for periodic sales for school teachers, administrators and purchasing agents.

The entirety of Northeast Business Park is located within a Foreign Trade Zone, providing duty-free status for items that are exported and deferring duty payment for items that are sold in the United States. The park boasts an impressive roster of tenants, including W.W. Grainger, Lifetime Brands Inc., Sleepy’s and several regional operators. The park is contiguous to Matrix Business Park at Exit 7A, a 480-acre industrial park that includes such tenants as Mercedes Benz of America and McCaster Carr Co.

In an otherwise challenging economy and real estate market, Matrix Development Group remains one of the most active developers in the region. Most recently, Matrix purchased the former Mid-Atlantic Corporate Center, now Matrix Corporate Center, a 342,000-square-foot office, laboratory and flex space development located at Exit 8A of the New Jersey Turnpike. Matrix has also made two significant land sales at Gateway Business Park in Salem County, N.J., with National Freight Industries for 1 million square feet and Manfredi Companies for 174,000 square feet. Matrix also recently leased 44,795 square feet to Yellow Roadway Company Inc. at 15 Quakerbridge Plaza Drive, located in Hamilton Township, N.J.

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, N.J., office at 732-521-2900 or visit www.matrixcompanies.com.