Repositioning Case Study
Viridian acquired the 395-acre property from Cranbury Development Corporation (CDC) in 2006. The property is located at the northeast corner of New Jersey State Highway 130 and Brick Yard Road, two miles from the New Jersey Turnpike Exit 8 and five miles from Exit 8A. Exit 8A is one of the most strategic locations in the country for investment grade tenants to locate hubs of their supply chain network. Viridian secured entitlements for a first-class, 2,800,000 square foot warehouse distribution park, completed remediation and site work, and delivered the project in pad-ready condition.
The property was previously utilized by the Former Unexcelled Chemical Corporation from 1930 to 1954 and was home to manufacturing operations including the production of signal flares, fireworks, insect repellant, and, in later years, military munitions including grenade fuses and six-pound napalm bombs. The plant was closed on July 30, 1954 by the New Jersey Department of Labor shortly after an explosion at the facility resulted in the deaths of two plant workers.