Ground broken on 500,00 SF industrial building in Jersey City. (Design and Development).

Against the backdrop of the Port of Newark/Elizabeth, presided over by the statuesque Lady of Liberty, Keystone Property Trust broke ground on a half-million-SF industrial development in Jersey. City's Greenville Yards. The Nov. 14 ceremony, attended by nearly 200 people, marked the culmination of a milestone agreement between public agencies and private developers. The result will turn a former Conrail switching yard into two state-of-the-art distribution centers employing hundreds of area residents.

Clear and sunny skies reflected the bright optimism of the crowd gathered to witness the historic occasion. Jersey City Mayor Glenn D. Cunningham best captured the moment when he stated, "Today we are celebrating the transformation of abandoned brownfields into fields of opportunity. This bold undertaking by Keystone represents a vote of confidence in the strength of this region's marketplace."

Keystone acquired the 26+ acre site in September 2002 from the Jersey City Redevelopment Agency (JCRA). A remediated brownfield, the property represents the final phase of redevelopment within the 50-acre Greenville Yards Industrial Park, which is located off of Exit 14A of the New Jersey Turnpike, just two miles from the Holland Tunnel. Greenville Yards is situated within a federally designated Foreign Trade Zone (FTZ), as well as in a state-designated Urban Enterprise Zone, which offer a number of state and federal benefits and incentives for tenants.

The two state-of-the-art distribution centers will be constructed concurrently, with expected completion in the second quarter of 2003.

The project will be among the only state-of-the-art distribution centers in the port area, offering large footprints, 36-foot clear ceilings, cross-dock capabilities, and ESFR sprinkler systems. Building 1, a 181,895-SF distribution center with 24 truck bays, can accommodate two tenants. Building 2, a 342,574-SF distribution center with 48 truck bays, can be subdivided for tenants at all four corners. The site has the ability to accommodate drop-lot trailer parking for up to 100 trailers and is rail served. Andrew Churchill, AIA, NCARB, CCS, of JRA Architecture in Indianapolis, Indiana, is serving as architect; and Barrett Builders of Fort Lee, New Jersey, which has been involved in the redevelopment of Greenville Yards for nearly a decade, is serving as General Contractor.