The partners announced the agreement for the retail giant’s sub same-day distribution facility Feb. 28. The launch of the building was celebrated this month.
The project secured $60 million in refinancing last August. At that time, STRO said it had secured a long-term tenant for the space, but did not disclose the occupier.
“We are pleased to have secured Amazon as a tenant for 1150 McBride after years of planning and development,” Steven Millstein, STRO founder and principal, said in a prepared statement. “We are thankful to have worked with our partners at KRE and Woodland Park’s Mayor Keith Kazmark who were instrumental in the success of this project.”
STRO and KRE were represented in-house by Senior Director of Acquisitions and Capital Markets Jack Shulman and Director of Leasing Elliot Ferris, according to the Feb. 28 announcement; Amazon was represented by KBC Advisors partners Jason Goldman and Andrew Siemsen.
According to a statement from Amazon Site Lead Drew McCrosssan, the company has invested more than $23 billion in the Garden State since 2010.
“We are excited to continue our growing footprint through this state-of-the-art facility in Woodland Park,” McCrosssan said. “I am proud to lead this site and look forward to continuing to be integrated with community.”
The number of jobs at the facility is “continuing to grow,” another Amazon spokesperson told NJBIZ, but “there are hundreds of full-time and part-time employees at SNJ1 in Woodland Park,” including third-party partners and flex drivers. To date, the retailer says it’s created approximately 58,000 jobs in New Jersey with average starting wages at more than $18 per hour and comprehensive benefits, including medical, dental, 401(k) matching, up to 20 weeks of parental leave, and its Career Choice program for tuition or education reimbursement.
With direct access to Routes 46 and 23 in addition to Interstate 80, 1150 McBride Ave. offers 36-foot clear ceilings, two drive-ins, 20 docks, and “ample” parking for trailers and employees.
“1150 McBride is a first-class building with a great tenant; KRE is thrilled to partner with STRO on another successful project,” KRE President Jonathan Kushner said.
“There are very few industrial assets like 1150 McBride that provide the site efficiencies and logistic value,” Shulman said. “Amazon was able to see the tremendous value in the location, being 30 minutes to New York City and complete access to over 20 million consumers in the New York Metro area.”
Editor’s note: This story was updated at 11:31 a.m. ET on March 1, 2023, to include additional information from Amazon.