MATRIX SELLS 1 MILLION-SQUARE-FOOT DEVELOPMENT SITE

OLDMANS TOWNSHIP, N.J. — Cranbury, N.J.-based Matrix Development Group has sold a 1 million-square-foot development parcel, located within Gateway Business Park in Oldmans Township, to National Freight Industries for the development of new industrial space for the logistics provider. Development plans were not released at the time of the sale. Gateway Business Park is being developed by Matrix as a public-private partnership. Upon completion, it will contain 3.5 million square feet of manufacturing, warehouse and distribution space. Tenants already located within the park include Goya Foods, JE Berkowitz Glass, Garden State Freezers and Manfredi Cold Storage. Three development parcels remain for sale at Gateway: one approved for 100,000 square feet of construction, a second approved for 263,000 square feet and a third approved for up to 705,901 square feet.