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anon-5651
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 Posted: Sat, Oct 31 2015, 7:22 am EDT Post subject: Nice tax revenue coming for Cranbury |
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https://www.tapinto.net/towns/south-brunswick-cranbury/categories/news/articles/cranbury-joint-real-estate-venture-for-massive-w
CRANBURY, NJ – Two large real estate and development firms are teaming up to build a 1.2 million square-foot warehouse project in Cranbury Station, according to a press release Thursday.
The Rockefeller Group and Alfieri, LLC are joining up to build the state of the art facility near the New Jersey Turnpike Exit 8A, according to the release.
“We are very pleased to partner with Alfieri on what will be a state-of-the-art distribution facility in one of the strongest industrial property markets in the nation,” said Clark Machemer, senior vice president and regional development officer for The Rockefeller Group’s New Jersey/Pennsylvania office. “The demand-side fundamentals are extremely strong in the Exit 8A submarket, and there are no other existing opportunities to lease a space of this size in the state, so we’re expecting strong interest ahead of completion.”
More on-line at the link above. |
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anon-899s
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| Posted: Sat, Oct 31 2015, 8:17 am EDT Post subject: Re: Nice tax revenue coming for Cranbury |
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| If you read the article its a "spec" build.... No taxes until they fill it. |
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anon-4o10
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| Posted: Sat, Oct 31 2015, 10:48 am EDT Post subject: Re: Nice tax revenue coming for Cranbury |
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Apparently there is a contract, but it's not publicly available yet. Thus the statement on spec. Though I am not sure if it's rumor or truth. The TC doesn't seem concerned which makes me think there is truth to the rumor.
Regardless the land had no value prior as farmland. An empty developed building generates more tax revenue. |
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