Matrix Development Group has started construction on a new speculative industrial building in Robbinsville, the latest addition to its 480-acre business park along Exit 7A of the New Jersey Turnpike.
The firm announced Tuesday that work was underway on the 180,000-square-foot facility, citing momentum in New Jersey's market for warehouse and distribution space. Matrix expects the project to be completed in June.
The project follows a groundbreaking in December on a 220,000-square-foot facility in the same complex, which Matrix is building for Falken Tire. The so-called Matrix Business Park at 7A also will house Amazon's flagship 1 million-square-foot warehouse and a 350,000-square-foot facility for McKesson Corp., a pharmaceutical distributor and health care information technology company.
In a prepared statement, Matrix Vice President James Murray said the firm is "seeing high demand for new speculative industrial development in the market."
To start the year, central New Jersey had industrial vacancy of 8.5 percent after absorbing 3.4 million square feet in 2013, according to data from the brokerage firm Jones Lang LaSalle. The demand has helped fuel nearly 4 million square feet of new industrial construction that the firm recorded at year's end.
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