Demolition Begins at Site of PortSouth Bryla, New Jersey’s Newest Modern Industrial Building
Carteret, N.J. (November 19, 2013)-- The Hampshire Companies, a full service, private real estate investment firm with equity in assets valued at more than $2.5 billion, commenced demolition of 50 Bryla Street in Carteret, N.J., on October 16, 2013, paving the way for PortSouth Bryla, a new state-of-the-art 460,000-square-foot industrial/distribution building that will rise on this strategically located site. The event was celebrated along with more than 50 of the state’s leading industrial real estate brokers, who gathered to witness the start of demolition that will lead to what is anticipated to be one of the region’s most sought-after industrial buildings, in the heart of Middlesex County’s industrial hub.
The all-new 460,000-square-foot building, spanning across more than 33 acres, will offer modern construction with a flexible design, in one of the most desirable industrial centers in the northeast. PortSouth Bryla is the future of industrial space, boasting up to 96 loading docks, direct access to rail, and a superb logistical location just off Exit 12 of the New Jersey Turnpike at Routes 1 & 9 with close proximity to the Port of Newark and Elizabeth, Newark International Airport and the region’s superior road and rail transportation network. Construction is expected to be completed in the fourth quarter of 2014. The building is currently available for pre-lease.
“At Hampshire, we recognized the impending surge of sustainable activity for the area that will result from the expansion of the Port and the raising of the Bayonne Bridge to accommodate the new giant Panamax container ships that will navigate the widened Panama Canal,” said Todd Anderson, Principal for the Hampshire Companies. “We expect to complete construction of this outstanding new industrial/distribution building by the end of 2014, which will ideally position it to accommodate the increased flow of goods that will be coming through the port.”
David Knee, Chris Hile, and Jenna Imperatore of Jones Lang LaSalle are the exclusive leasing agents for the property.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at http://www.hampshireco.com.
R&J Public Relations