50 New Canton Way

This transaction represented an opportunity to develop a state-of-the-art distribution center with an existing customer on a build-to-suit basis.

The site, located in Matrix Business Park, is situated just off of Exit 7A on the New Jersey Turnpike, approximately 45 miles south of Newark International Airport and FedEx's New York Metropolitan Area hub, and 55 miles south of New York City. The development plan called for a building floor plate of just over one million square feet complemented by an additional 1.5 million square feet of mezzanine and pick modules.

Upon being selected as the developer of the project in July 2012, KTR proceeded with the entitlement and permitting process and acquired the land from a local developer in December 2012. Construction commenced immediately after closing on the land and the building was delivered, on time, in the second quarter of 2014. The building is leased long-term.