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There’s new space available in the Meadowlands submarket, following Woodmont Industrial Partners’ completion of a multimillion-dollar renovation effort.

Woodmont announced the delivery of 30,000 square feet of upgraded space at 2 Terminal Road in Lyndhurst May 6. According to the Fairfield-based company, the location offers an ideal spot for companies setting up last-mile delivery operations.

The firm acquired the space in 2022. It is located at the intersection of Routes 3 and 17, which sets up access to New York City and regional ports as well as other major highways. In its State of the U.S. Industrial report for the first quarter of the year, Savills identified New York/New Jersey ports as a “long-term winner.” The region’s TEU volume in Q1 was a projected 1.9 million, an 8.9% increase from 2023 and 8.7% increase from 2019.

The capital improvement plan for 2 Terminal Road upgraded the entire site, including with:

• A new roof and front entrance
• Motion-sensor LED lighting
• Interior and exterior painting
• New paving and landscaping
• Built-out office space
• Additional loading doors

Woodmont Executive Vice President Anthony Amadeo said the completed project showcases the company’s commitment to delivering “exceptional product that enhances the commercial landscape and caters to the needs of tenants.”

He also cited the resiliency of the location. “New Jersey’s Meadowlands submarket continues to stand strong amidst a fluctuating economy and leasing and tenant activity in Q1 suggest demand for industrial space in the area with continue,” Amadeo said. “We look forward to continuing our activity in this submarket and New Jersey overall.”

According to Woodmont, its active pipeline includes approximately 8 million square feet of industrial space. Covering new developments and renovations, that footprint extends to New Jersey, New York, Pennsylvania, Florida and Texas.

The firm has projects underway in South Amboy, in partnership with Joseph A. Jingoli & Sons Inc., and South Brunswick. The latter is a partnership with EverWest, which has since rebranded to Sagard Real Estate. Last fall, it celebrated the tenancy of R.A.S. Logistics at a 54,000-square-foot site in Woodbridge.

Lee & Associates – WBE partner and Senior Vice President Michael Schaible and partner Troy Wisse are exclusive leasing brokers for the property. Schaible is also optimistic about the market.

“The positive … response that 2 Terminal Road has garnered thus far underscores its appeal and suitability for businesses looking to establish themselves in the Meadowlands,” he commented. “This interest is also further testament to the quality and value of Woodmont’s endeavors, and we’re excited to continue showcasing the property’s potential to prospective tenants.”