Woodmont Industrial Partners and a major U.S.-based insurance company have formed a joint venture partnership to recapitalize and acquire 400 Atrium Dr., a 30.6-acre industrial asset in Franklin Township, NJ. Located on a premium development tract in the Exit 10 submarket along the New Jersey Turnpike, this deal and subsequent redevelopment represent the first collaboration for the partnership.
400 Atrium Dr. will feature more than 370,000 square feet of Class A warehouse space spread across two facilities. The site will feature ample surface parking spaces for cars and trailers.
“Atrium Drive illustrates Woodmont’s commitment to delivering high-quality industrial space in one of the Northeast’s most sought-after markets,” said Anthony Amadeo, EVP of Woodmont. “With limited new supply expected through 2026, this strategic redevelopment is well-suited for long-term success.”
John Alascio and Chuck Kohaut of Cushman & Wakefield coordinated the debt, reportedly $50 million, with New York Life.
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