Bridge Point East Hanover
Update
11/07/22
Developer Secures $33M for NJ Warehouse Project
Developer, , has just obtained a $33 million loan for a large industrial warehouse project, set to rise at 11 Mt. Pleasant Avenue in East Hanover, New Jersey. Issued by Hartford Investment Management Company (HIMCO), this influx of capital will be used to fund all construction costs from the ground up.
Totalling square feet, the Class-A facility will be known as Bridge Point East Hanover. It will be operated as a distribution center and is to feature 32-foot interior clearance heights, 62 loading dock doors, 60 trailer parking spaces, and 100 spaces for employee parking.
The building will also be located within close proximity of Interstates 80 and 287, which will streamline shipping and receiving traffic.
The project site totals square feet and has sat vacant for several years. Serving as the general contractor, is currently performing site work to prep the property for the build. It's unknown exactly how long construction is expected to take, but for a warehouse project of this size, 8-12 months is a realistic timeframe.
