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1 Market Street Update 05/31/23

New Warehouse to Replace Destroyed Paper Factory in Elmwood Park

Construction has commenced on a Class-A, industrial warehouse, at 1 Market Street in Elmwood Park, New Jersey. The project is redeveloping a large portion of the Marcal Paper Factory site, roughly 4 years after a 2019 fire ravaged the historic plant and destroyed 90% of the structure.

Developed by , the new facility will be aimed at companies who are looking for an asset that can support large logistics and distribution operations. Boasting 40-foot ceiling heights, it will total square feet.

Designed by , with serving as the general contractor, the structure will feature 32 loading docks, 2 drive-in doors, and 56 trailer parking spaces. It will also have a  vehicle parking lot for employees, a full sprinkler system, a 7-inch thick, heavy-duty concrete floor, and an exterior aesthetic that honors the old paper factory.

The property measures nearly 12 acres and sits within close proximity to both I-80 and I-95. Situated just 17 miles from Manhattan, the facility could serve as a quick and efficient piece of the logistics chain, providing easy transportation access to destinations all around the tri-state area.

The project is currently in full swing, with foundation work underway and early vertical construction in progress. JLL is handling the leasing duties, and work is expected to wrap up by August of this year. The build will create 140 construction jobs in the short term, with the completed facility expected to generate 240 permanent jobs and an annual tax revenue of $630,000.

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