Lincoln Equities Group (LEG), a Northeast full-service real estate company, announced Thursday that Amazon will occupy its future 360,000-square-foot industrial warehouse in the Highland Cross industrial complex in Rutherford, N.J.
The state-of-the-art last-mile distribution center, which will create hundreds of jobs, is in the heart of the busy Meadowlands industrial market. LEG procured $115 million in industrial build-to-suit construction financing for the facility, a Class A industrial site that recently received requisite approvals.
When it is completed in early 2022, Highland Cross will feature cross-docked loading, 70-plus dock high doors and 80-plus trailer parks, according to LEG.
“We have been working with Rutherford for 20 years and are excited to see this project come to fruition and create a ratable for the borough,” LEG president Joel Bergstein said.
Highland Cross is located at the crossroads of the New Jersey Turnpike (I-95) and New Jersey Routes 3 and 17. The facility offers convenient access to New York City, the Port of New York and New Jersey and 18 million consumers within a one-hour drive.
“We are excited to continue to invest in New Jersey with a new delivery station in Rutherford that will provide efficient delivery for customers and create hundreds of great job opportunities for the talented local workforce,” an Amazon spokesperson said. “This new delivery station represents Amazon’s unwavering commitment to safety, technological innovations and skilled teams who are obsessed with delivering for our customers.”
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LEG was appointed by the New Jersey Meadowlands Commission and the Borough of Rutherford as redeveloper of this 30-acre brownfield site in 1998. Working with the state Department of Environmental Protection, LEG developed and implemented a five-year Remedial Action Work Plan and successfully completed a wetlands mitigation program.
“Highland Cross is optimally positioned to capitalize on the sustained growth in demand for last-mile industrial product proximate to consumers, labor and infrastructure,” LEG acquisitions and development officer Lance Bergstein said. “The lease is a continuation of the success LEG has felt in the industrial space of late, including our Bayonne site, which will be occupied by UPS.”
Earlier this year, LEG announced that UPS will lease the firm’s waterfront Lincoln Logistics Bayonne facility. The regional hub and distribution center is being built on the site of the former Military Ocean Terminal at Bayonne. Just north of Port Terminal Boulevard, the 880,000-square-foot building will bring more than 1,000 jobs.
LEG owns, operates and manages more than 2 million square feet of R&D, industrial and office properties throughout the Tri-State area. The company is currently building 5 million square feet of industrial space in New York, New Jersey and Florida.