Repositioning Case Study
Viridian acquired this 130-acre property from Hercules, Inc. in 2005, with the intent of repositioning the land into a warehouse distribution park. The property is located at 300 Neck Road in Burlington Township, Burlington County, New Jersey, and is adjacent to New Jersey State Highway 130, and is two miles from the New Jersey Turnpike Exit 6/6A and the I-276 connector to the Pennsylvania Turnpike. Viridian secured entitlements for a first-class 1,690,000 square foot distribution warehouse park, completed remediation and site work, and delivered the project in pad-ready development condition.
The property was the location of a chemical plant operated by Hercules from 1947 to 1992. The plant was decommissioned in 1992, at which time Hercules undertook the remediation process required by Federal and State regulators.