By Evelyn Lee
Viridian Partners announced last week that it won the 2009 Creative Deal of the Year award from the New Jersey Chapter of the National Association of Industrial and Office Properties. The Highlands Ranch, Colo.-based brownfield redeveloper received the award for the cleanup and repositioning of a 130-acre former chemical plant site in Burlington Township.
The property was sold during the first quarter to Dallas-based Lion Industrial Trust, which is close to executing an agreement with a local developer to construct the park.
The property — which Viridian acquired from Hercules Inc. in September 2005 — was the location of a chemical plant operated by the company from 1947 to 1992, according to the developer. Viridian said all active remediation on the site is now complete. The developer has secured the entitlements for a 1.69 million-square foot distribution and warehouse park; completed the site work and has pad sites ready for three of the four buildings in the park.Click here to download full article