“This site’s proximity to I-287, one of the New Jersey’s major highway systems, and its access to a deep and well-educated labor force make the location an ideal choice for users,” Justin Burns, Northeast Market Officer for IDI Logistics, said in a news release. IDIL Davidson, part of IDI Logistics of Atlanta, bought the two properties in September 2022 for $41.88 million. There is the vacant six-story Magnuson Hotel at 195 Davidson Ave and a warehouse at 215 Davidson Ave. and building a single 210,600-square-foot warehouse. To the north of that site, IDIL Davidson, LLC has proposed demolishing all the buildings at 195 Davidson Ave. “This project will make the most of those fundamentals, capitalizing on a location that provides immediate access to I-287 while leveraging the area’s excellent labor pool.”Īlso see: Here's what Franklin is doing to limit warehouse construction “Somerset is one of the fastest-growing industrial submarkets in the New Jersey market, with limited existing availability, modest new speculative construction and a growing list of major users and investors turning their interest toward the area,” a company spokesman said in a news release. The business brought the 28-acre property on Sept.
The first building would have 151 parking spaces and the second would have 103 parking spaces.ĮWA Somerset 400 Owner is a joint venture of EverWest Real Estate Investors of Manhattan and Woodmont Properties of Fairfield. The Davidson Avenue neighborhood, off the Easton Avenue interchange with Interstate 287, was the center of explosive office building and hotel development in the 1980s and ‘90s.īut now the township has two proposals within a half mile to tear down buildings and replace them with warehouses.ĮWA Somerset 400 Owner LCC is proposing to demolish a 349,445-square-foot office building with 1,200 parking spaces at 400-600 Atrium Drive and build two warehouse buildings, one of 294,400 square feet and the other of 132,000 square feet. Watch Video: Today in History for February 8thįRANKLIN (Somerset) – The trend of demolishing office buildings and other structures to make way for warehouses has come to the northeastern corner of the township.
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