Matrix Sells 102 Melrich Road Facility in Cranbury, N.J. For Tris Pharma Expansion.
CRANBURY, N.J. (November 30, 2012) – Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, today announced that it has sold 102 Melrich Road, a 103,350-square-foot distribution facility in Cranbury, N.J. In conjunction with the sale, Tris Pharma, a specialty pharmaceutical company, leased the property from the new owner.
The single-story property is located on an eight-acre tract of land and is less than two miles from the Exit 8A interchange of the New Jersey Turnpike. Constructed in 1977 and expanded in 1987, the well-maintained site features 12,432 square feet of office space, 21-foot ceiling heights, seven dock-door positions, one drive-in, trailer storage and ample parking.
David Zimmel of Zimmel Associates represented the buyer in the transaction.
“Tris Pharma will now occupy an excellent warehouse facility in close proximity to its headquarters, R&D center and manufacturing building,” Matrix Development Head of Acquisitions Gary Hans said. “For Matrix, this was a an excellent opportunity to capitalize on the strength of the desirable 8A market.”
In South Brunswick Township with immediate access to Route 130, the property has overnight highway access to one-third of the nation’s population. Routes 1, I-195 and I-287 are nearby and the site offers outstanding proximity to world-class seaports including Port Newark/Port Elizabeth.
Founded in 2000, Tris Pharma, Inc. is engaged in research, development, and manufacturing of both over-the-counter and prescription branded products and specialty generic products. The company has research and development and manufacturing facilities located in Monmouth Junction, N.J.
For more information about Tris Pharma, please contact Adam Drapczuk at 732-940-2800 or visit www.trispharma.com.
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.