A New 137,000 Square Foot Industrial Project in Florham Park Breaks Ground
More than 135,000 square feet of new warehouse and logistics space is coming to Florham Park under a project that’s now under construction at a former office and data center property.
Its developers, The STRO Cos. and Kushner Real Estate Group, gathered Tuesday to break ground for the facility at 19 Vreeland Road and bring new life to a roughly 14.5-acre site. Plans call for 36-foot clear ceiling heights, 26 loading docks, one drive-in and parking for 108 cars and 36 trailers, with completion slated for the first quarter of 2025.
Cushman & Wakefield is the leasing team for the 136,714-square-foot project, the first to break ground since Florham Park approved a new industrial zone for an area that’s long been home to office buildings.
“I think, as elected officials, it’s our job to think outside the box regularly,” Mayor Mark Tayor said, noting that he and the borough council have “had a struggle” with waning demand for older, suburban office space.
“We have buildings that are empty all the way down this road, and we decided to make a new zone to try and foster new ideas and new possibilities,” he added. “I think this is the first of many.”
The C&W team, led by Bill Waxman, Mindy Lissner, Morgan Nitti and Jeff Volpi, is already fielding interest from prospective tenants for a site that is roughly five miles from both Interstate 280 and Interstate 287, providing access to other major highways, Port Newark-Elizabeth and Newark Liberty International Airport.
“We do feel really comfortable with the marketplace and think that it’s going to be an amazing project,” said Steve Millstein, STRO’s founder and principal. “So we’re really excited about it, and I wanted to thank Mayor Taylor again.”
STRO acquired 19 Vreeland Road in 2021, reportedly for $7.3 million, in a deal arranged by JLL’s New Jersey capital markets team. The 141,000-square-foot property had been home to Bank of New York Mellon, the seller, which used it as an office and data center.
The redevelopment is now the latest joint venture between STRO and KRE Group, which have partnered in recent years on industrial projects and transactions in Woodland Park and Jacksonville, Florida, among other locations.
“The only thing better than a groundbreaking is a building opening, so that will be the next step,” said Murray Kushner, KRE Group’s chairman. “We’re very appreciative of all the efforts of our respective offices, very appreciative of all of the government officials in Florham Park, especially the mayor for helping us get here.”
The project may well give rise to additional investment in the borough’s new industrial zone, which was established in late 2022 after more than a year of consideration. According to the Florham Park Eagle, the move by the borough council marked the first major revision to its zoning ordinance in more than 20 years.
“It’s always been a great location for business,” said Noah Chrismer, KRE’s director of planning and entitlements, noting that both partners in the joint venture own multiple buildings in the area, “so they identified this as a great site without the end use set at the time.”
“Then the rezoning happened, and we were lucky enough to work with the town on that.”