South Jersey Company Building the Largest Built-to-Suit Project in the State this Year
NFI is pleased to announce that it has been chosen by Subaru of America to relocate and expand the Automaker’s parts distribution center and training facility to a new location in Florence, N.J. The location, NFI Park at Florence Crossings, is located at 2020 Route 130 North, less than half of a mile from the New Jersey Turnpike and Pennsylvania Turnpike extension.
The Subaru facility will be a state-of-the-art, class A 526,050 square-foot modern distribution facility with tilt-up concrete construction, 32’ clear, 83 loading doors, and 17,000 square feet of office and training space. At full build-out, the NFI Park will comprise approximately 1,650,000 total square feet.
Construction commenced shortly after Florence Township officials approved of the property development, though a formal groundbreaking is set for 10:00 a.m. on Wednesday, August 22. The facility’s projected date to open for full operations is June 1, 2013.
NFI, a national leader in supply chain solutions based in Cherry Hill, N.J., completed the transaction with Subaru of America and their real estate brokers from CBRE, Inc. on June 29, less than three months from the initial proposal for the opportunity. Michael Landsburg, Vice President of Real Estate for NFI, attributes the speed to completion was “a direct result of the timely and efficient collaboration efforts between NFI, SOA, CBRE, and Florence Township officials, which allowed for an accelerated timeline of events.” NFI had positioned the site to be “shovel ready,” including obtaining the New Jersey Department of Transportation approvals to construct significant highway improvements, so that it could react quickly to potential opportunities.
The Payment In Lieu Of Taxes (PILOT) tax incentive provided by Florence Township was an integral component for the selection of the NFI Park site by Subaru, and will provide significant savings on real estate taxes during Subaru’s occupancy.
The range of opportunities through this transaction is widespread. The proposal contains plans for highway improvements, including a jug handle on Rt. 130, enhancing the transportation infrastructure that exists in the area. The project will provide new community involvement and improvements as well. This includes a new community garden at Florence’s Municipal Building and regularly delivered donations to local food banks. This deal is also spurring other business interests, leading to both short- and long-term job opportunities in the area.
Also, the building will be constructed to achieve Leadership in Energy and Environmental Design (LEED) Certification and will have a solar panel array on the roof of the building provided by NFI Solar. This will provide renewable electricity for the operation at a 20% savings from what Subaru is currently paying. This reduction in electric costs will be provided with no additional fees, liability, or risk to Subaru.
“NFI Real Estate is excited to partner with Subaru of America and Florence Township as it adds this project to its continually expanding 23 million square-foot portfolio in North America,” says Jeffrey Brown, NFI Vice Chairman and President. As an integral division of the company, NFI Real Estate focuses on the core values of the company — including social responsibility. With these community improvements and energy-efficient alternatives, both Subaru and NFI look to better the communities in which they operate.
The 526,050-square-foot project is the largest built-to-suit development in New Jersey this year, and will be one of the new buildings constructed by NFI Real Estate. NFI is looking forward to future development for the remaining 1.1 million square feet at NFI Park at Florence Crossings