53 FRONTAGE ROAD
HAMPTON, NJ
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TEN-X AUCTION: JULY 25 - JULY 28 |
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As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in Perryville I for sale.
This three-story corporate HQ facility totals 294,000 SF and is situated on a 26-acre site in affluent Hampton, New Jersey. The Property is a part of the Perryville Corporate Park, originally developed as Foster Wheeler’s headquarters and most recently occupied by Wood PLC, the predecessor to Foster Wheeler, who will be vacating the building by the end of 2022. Perryville I is currently zoned Office Research and will be delivered vacant, offering investors, developers and users various repositioning and redevelopment opportunities
Given the Property’s last mile location, 13 miles from the NJ/PA border and 45 miles from the Port, Perryville I offers investors multiple repositioning and redevelopment options. With the historic rise of the industrial market, land values in this market have increased approximately tenfold the past four years for big box and last mile developments. With either a zoning change or the dissolving of the Condominium Association, it is estimated that the 26.53-acre site would be able to accommodate up to a 330,000 square foot industrial box.
The Property is strategically located between exits 11 and 12 off of I-78 and just 13 miles from the Pennsylvania border in Hunterdon County, the second wealthiest counties in NJ and the eleventh the US, according to Forbes ($155,000 average household income). Perryville I offers unrivaled access from Pennsylvania’s Lehigh Valley to the west and Northern New Jersey’s tremendous corporate base to the east. This location has proven to be a major labor intercept, allowing employers to draw from Northern New Jersey’s and Eastern Pennsylvania’s highly educated labor pools while also giving employees the opportunity to live in Eastern Pennsylvania where the cost of living is significantly lower or in one of Northern New Jersey’s diverse housing markets. Which offer among the highest rated public school systems in the nation.
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EXCELLENT LOCATION &
DEMOGRAPHICS
• Located between two four-way interchanges along I-78 providing immediate interstate highway access 13 miles from the NJ/PA border
• Deep labor pool to draw from with 58% of the population in a 5-mile radius achieving at least a Bachelor’s Degree or higher
• Within a 3-mile radius the average household income is over $157,000
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POTENTIAL REPOSITIONING /
REDEVELOPMENT OPPORTUNITY
• Inter-connected pods provide the ability for multi-tenanted scenarios
• Opportunity for Alternative Uses Subject to Zoning & Approvals on 26.53 acres
• Currently zoned OR (Office Research) which permits medical clinics, offices, research facility, community residences, and professional services
• I-78 corridor sites have been highly sought after for industrial and residential development
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FLAGSHIP POTENTIAL IDEAL FOR USER
• Established / Recognized Address
• Former Foster Wheeler Headquarters with 4.04 per 1,000 SF parking ratio
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ADDRESS
53 Frontage Road
Hampton, NJ
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NET RENTABLE AREA
294,000 SF
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PARKING
1,189 Surface Spaces
(4.04 / 1,000 SF)
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ZONING
OR (Office Research)
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DAVID W. BERNHAUT
Executive Vice Chairman
+ 1 201 460 3356
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ANDREW J. SCHWARTZ
Managing Director
+ 1 973 292 4624
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FRANK A. DITOMMASO II
Director
+1 201 508 5303
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JORDAN SOBEL
Director
+1 973 292 4633
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PETER E. WELCH
Financial Analyst
+1 201 508 5267
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ANDRE BALTHAZARD
Associate
+1 732 360 6249
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JOHN ALASCIO
Executive Managing Director
+1 212 841 9238
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CHUCK KOHAUT
Director
+1 201 528 2154
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FRANK TRUESDELL
Managing Director
+1 973 908 6121
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Cushman & Wakefield, LLC | Capital Markets
One Meadowlands Plaza, 7th Floor, East Rutherford, NJ
+1 201 935 4000
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© 2022 Cushman & Wakefield. All rights reserved. The information contained in this communication is confidential, may be privileged and is intended for the exclusive use of the above named addressee(s). If you are not the intended recipient(s), you are expressly prohibited from copying, distributing, disseminating, or in any other way using any information contained within this communication. This information has been obtained from sources believed to be reliable but has not been verified. NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE CONDITION OF THE PROPERTY (OR PROPERTIES) REFERENCED HEREIN OR AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, WITHDRAWAL WITHOUT NOTICE, AND TO ANY SPECIAL LISTING CONDITIONS IMPOSED BY THE PROPERTY OWNER(S). ANY PROJECTIONS, OPINIONS OR ESTIMATES ARE SUBJECT TO UNCERTAINTY AND DO NOT SIGNIFY CURRENT OR FUTURE PROPERTY PERFORMANCE. This e-mail may be considered advertising under federal law. |
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