Margolis Enterprises, a Boca Raton, Fla.-based real estate developer, plans to construct the four-building, nearly 2 million-square-foot Margolis Warehouse Distribution Facility on 200 acres of farmland and vacant undeveloped land in Mansfield. The interchange 7A submarket which is about 15 minutes north of the site, has about 4 million square feet of vacant space, and the industrial vacancy rate in Burlington County has risen from 6.5 percent to nearly 10 percent in the last two years, he said.
Real Estate Warehouse complex expected to drive tax revenue, jobs But project is challenged by weak demand for new space vacancy rate in Burlington County has Interchange 6A on the Turnpike. ant interest, it’s going to be a challenge.” risen from 6.5 percent to nearly 10 per- But the high amount of vacancy The developer said he is prepared to By eVeLyn Lee and generate an estimated tax revenue cent in the last two years, he said. in the area will make it difficult to pay with his money for the construc- A PrOPOseD warehouse and distri- increase of $1.72 million, according to a Rick Cureton, president at Del- obtain financing for the project, he tion of one speculative building, as well bution complex that would front two study prepared in February by French ran-based industrial developer White- said. “It’s an enormous challenge in as initial site and infrastructure work. major highways is expected to bring & Parrello Associates P.A., a wall sell Construction Co., said he expected that they have to convince a lender “we’ll do what we have to do to new tax revenues and jobs to a largely Township-based engineering firm. the project would be successful in the that now’s the right time to get ready get that done to generate some financ- rural township in Burlington County. Margolis, who said the proj- long term as a distribution site for the for a shift in the marketplace.” ing opportunities,” Margolis said. “To But a lengthy approvals process, high ect would also generate hundreds mid-Atlantic region, and would likely Margolis acknowledged that “until get the project started, if it takes my industrial vacancies and financing of permanent and construction be a competitor to whitesell’s Haines we get a little further along and get cash to do it, that’s what I’ll do.” u challenges could be stumbling blocks jobs, hopes to break ground within Center, a 4 million-square-foot, 800- approvals in place, and get some ten- E-mail to firstname.lastname@example.org in getting the project off the ground, 18 to 24 months, provided the state acre industrial park at route 130 and Courtesy of KSS Architects said industry insiders. Department of environmental Pro- The proposed project will be made of structured Christina Mazza Margolis Enterprises, a Boca tection approves Mansfield’s amend- or pressed concrete, have rooftop solar panels raton, Fla.-based real estate develop- ed wastewater Management Plan. and energy-eﬃcient windows. er, plans to construct the four-build- Mansfield submitted its application ing, nearly 2 million-square-foot Mar- to amend the plan to the DeP on Oct. golis warehouse Distribution Facility 5, according to French & Parrello. The on 200 acres of farmland and vacant, plan includes the warehouse project, undeveloped land in Mansfield. for which Margolis proposes to pro- “This warehouse would be even vide an on-site treatment facility and more geographically desirable than ground disposal system, increasing what you might find in other areas of the on-site disposal there to more the state,” said township administrator than 20,000 gallons a day. Joseph Broski. He said the site is bor- Aside from the approvals pro- dered on two sides by the New Jersey cess, the project faces opposition from Turnpike and I-295 — which runs from a neighboring day camp owner who a junction of I-95 near wilmington, says the development would negatively Del., to a junction of I-95 at Lawrence. affect his business and cause environ- The property is located just south of mental problems, such as flooding. exit 52 of I-295, and less than a mile The lack of demand for new ware- from Interchange 6 of the Turnpike. house space also is an issue, Policarpo Margolis Enterprises plans to build a 2 “It’s an ideal development site,” said. The Interchange 7A submarket, million-square-foot warehouse distribution
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