Expanded Foreign Trade Zone includes Matrix sites

Real Estate Weekly, Oct 13, 2004

Matrix Development Group announced that three of its business parks--Northeast Business Park at 7A and Matrix Business Park at 7A in Washington township, as well as I-195 Business Park in Hamilton, N.J.--are included in the recently expanded Foreign Trade Zone approved by Mercer county officials. This foreign trade zone has been expanded from 71 acres to 1,000 acres.

The foreign trade zone allows participating companies to defer, reduce or possibly eliminate U.S. Customs duties on goods they import through the ports of New York and New Jersey. No U.S. Customs duties are paid on merchandise that is exported from a foreign trade zone.

Alexander B. Taylor, COO and partner in charge of industrial at Matrix Development Group, commented, "This designation will serve to bring even more jobs, more investment and more good news to Washington and Hamilton townships. As an early investor in the 7A marketplace, we're pleased to play a leadership role in this initiative."

Northeast Business Park at 7A consists of more than 400 acres of land located at Interchange 7A, the intersection of the New Jersey Turnpike and Route 195. The property is zoned to accommodate a build-out of approximately 4 million s/f of distribution and light manufacturing space. The park boasts an impressive roster of business residents, including WW Grainger, Seamans Furniture, Lifetime Hoan and Sleepy's Mattresses.

Matrix Business Park at 7A, Phase II of Northeast Business Park, consists of 480 acres of land located at Interchange 7A. The property is zoned to accommodate a build-out of approximately 5.3 million s/f of distribution and light manufacturing space. Most recently, a new world-class distribution facility was developed at Matrix Business Park. I-195 Business Park is a 145-acre light industrial park located at Interchange 3A of Interstate 195. The master plan for this park calls for an accommodation of an additional 600,600 s/f of light industrial and distribution facilities.