Executives from Denholtz Properties were joined by Borough of Tinton Falls officials to celebrate milestones for two development projects that will deliver more than 50,000 square feet of Class-A flex/industrial space to Monmouth County.
The June 9 event was kicked off with a ribbon-cutting for a new 26,400-square-foot Class-A flex/industrial building at 150 Tornillo Way, followed by the groundbreaking for a new 24,000-square-foot Class-A flex/industrial building just across the street at 151 Tornillo Way.
Located on a 7-acre site straddling Tornillo Way, just minutes from Route 18 and Exit 105 on the Garden State Parkway, the two-building industrial development project will bolster Denholtz Properties’ multitenant industrial portfolio, while tapping into the record demand for flex/industrial space in the Monmouth County market.
The property at 150 Tornillo Way features 11 2,400-square-foot units, dedicated drive-in and tailboards, and a modern, adaptable design with 1,920 square feet of warehouse space with 480 square feet of office space in each unit. 150 Tornillo Way has seen high demand from a wide range of users and is currently 82% leased to tenants such as Design Floors, Trident Computer Resources Inc., and Fertile Globe Inc.
With an exterior design matching that of 150 Tornillo Way, 151 Tornillo Way’s seven units will range in size from 2,400 – 4,440 square feet and boast dedicated drive-in and tailboards ensuring adaptability to a wide range of uses. Construction is scheduled to be completed later this year.
“Although big-box industrial construction tends to dominate the industrial discussion, the flex/industrial asset class continues to be a crucial component of our regional economy,” said Steven Denholtz, chief executive officer of Denholtz Properties. “Equidistant to both New York City and Philadelphia amidst a market experiencing constrained supply of modern industrial space, Tinton Falls represents our ideal target market for flex/industrial new construction. We’d like to thank the Borough for their support in bringing our vision to life and enabling our firm to create two spaces where businesses will be able to thrive in Tinton Falls.”