The basics:

• Kurv Industrial‘s latest project in Perth Amboy will add 471,231 sq. ft. of Class A space
• Development is expected to create about 400 long-term jobs
• Kurv plans to donate 18.6 acres to Perth Amboy for public uses
• Project is part of more than $1B in city redevelopment efforts

Upon completion of its latest project, Kurv Industrial will have developed more than 3 million square feet of industrial space in the City of Perth Amboy. Company executives, city officials, the Perth Amboy Redevelopment Agency and others gathered along the Raritan riverfront in late July to celebrate the work underway and its significance for the city. Targeting delivery in the first quarter of 2027, Perth Amboy III, as Kurv calls it, will deliver a brand-new, 471,231-square-foot Class A industrial building to 555 Market St.

Along with tapping into market demand for geographically accessible and updated spaces, the project highlights Perth Amboy’s prowess and progress in turning underutilized and brownfield properties into productive assets for investors and the public.

Perth Amboy refers to the development rising between the Route 35 Victory Bridge, Smith Street and Riverside Drive as the Gateway Project. Standing along the shore, it’s easy to see why. Aside from the expanse of water, roads and railways in view, the land itself represents a new entry point.

This latest project is part of more than $1 billion in redevelopment efforts advanced under Perth Amboy Mayor Helmin Caba’s administration, according to the city.

And that big number breaks down in a variety of ways. The city says the broader push includes the remediation of more than 300 acres of former industrial land, street improvements, new and upgraded parks, and a $100 million investment in the city water system.

Speaking with blue skies and water behind him, Caba was quick to note the perseverance, persistence and passion that has led to this point. “[R]edevelopment, especially on properties like this one, doesn’t happen overnight,” he said at the July Market Street event. Along with planning, infrastructure and coordination, “most importantly, it takes partners who are willing to stay at the table and do the work.”

Ahead of the Kurv

Caba also drew attention to Kurv’s repeat work in the city. “When someone chooses to invest in our city once, that’s an opportunity. When they choose to come back and invest again and then again, that demonstrates the confidence in where our city is going,” he said.

Kurv Industrial launched its New Jersey office in 2014. Since then, it has developed more than 21 million square feet in the Garden State covering 24 buildings.

Not including the work underway, the former Bridge Industrial has already built about 2.5 million square feet of industrial space in Perth Amboy. According to Kurv Industrial Senior Vice President of Investments Stefan Sansone, the firm has directly invested approximately $50 million in the city over the past decade.

Beyond building structures, he noted the development has created roughly 2,000 permanent jobs.

Kurv debuted Perth Amboy II last summer during a ceremonial ribbon cutting. Located at 1160 State St., the high-capacity distribution center sits on 73 acres of remediated waterfront space. Highlighting market demand, NAI James E. Hanson identified GoFo Inc.’s 800,000-square-foot lease of the property as one of the top leases year to date and for the period, in its industrial look back at Q2.

‘A no-brainer’

The latest endeavor, Kurv Perth Amboy III, is divisible to 225,720 square feet and sits 2 miles from the Outerbridge Crossing between Market Street, Convery Road and Riverview Drive. It will serve a dense market of 2.35 million residents within a 15-mile radius.

“I think first and foremost, the relationship we have with the town is very special and they’re very supportive of what we do,” Sansone told NJBIZ. “We get excited to invest within Perth Amboy because of how great they are as a community. How they are to work with, how engaging they are. And when this project came across our desk, it was a no-brainer for both us as a company, but [also for] our partners that have invested here as well.”

A CBRE team featuring Vice Chairmen Thomas Monahan and Larry Schiffenhaus serves as listing agent for Kurv Perth Amboy III.

We get excited to invest within Perth Amboy because of how great they are as a community.
– Stefan Sansone, SVP of Investments, Kurv Industrial

Amid the buildup, Perth Amboy is keen to make sure projects bring long-term benefits for the city beyond the property itself. “The Gateway Project represents the redevelopment of 44 acres that for decades stood as a reminder of our industrial past,” PARA Director Tashilee Vazquez said. “Today it represents new business, hundreds of permanent jobs, increased rateables, and continued investment in Perth Amboy.”

Perth Amboy III is expected to create approximately 400 long-term jobs and generate about $1 million in annual revenue for the city. “We’re taking property that has presented challenges, not only for years, but really for decades, and putting it back into productive use. And when we do that, we change what is possible, not only for this project, but for the city of Perth Amboy,” noted Helmin.

Changing perceptions

As the city makes strides to repurpose its industrial past and engage underutilized properties for the benefit of the community, the redevelopment has also brought new infrastructure and other opportunities to the surrounding area.

In addition to establishing a draw for modern logistics and warehouse occupants, the Perth Amboy III development includes the donation of 18.6 acres from Kurv to the city. Split nearly even, 9.2 acres will host public open space for future parks, trails, recreation, and environmental stewardship. Meanwhile, the other 9.4 acres will introduce a pad-ready site to the larger Gateway development.

Sansone told NJBIZ that being able to dedicate the space back to the city was “extremely important” to Kurv. Beyond the direct impacts of new commercial and recreational spaces, he explained this kind of work can help clear up negative notions about industrial development.

“It sort of changes the perception and narrative on what you’re reading … across the country,” Sansone said. “That there’s more than just building a warehouse. You can invest into the community and create a public park, for example, that’ll last generations; that’ll create memories for the community members here forever.”

From the past into the future

The transportation and geographic advantages that drove that progress in the past still feed the industrial redevelopment underway in the present.

Industrial users continue a flight to quality seeking modern warehouse and distribution space and centrally located Perth Amboy sits in the Exit 10 submarket. At the close of the second quarter of 2026, Cushman & Wakefield identified I-287/Exit 10 (along with Exit 8A) as main drivers for the period. Overall, vacancy came in at 6.0%, under the statewide rate of 8.7%.

According to the report, I-287/Exit 10 recorded 2 million square feet of new leasing activity in Q2. The submarket also accounted for three of the region’s five largest new deals — all with footprints upwards of 400,000 square feet at Class A warehouse or distribution properties.

With 40 industrial projects underway in the larger North and Central Jersey market, Cushman & Wakefield noted I-287/Exit 10 leads with 1.9 million square feet at work.

Visible from the Gateway Project site, just under the Victory Bridge, another major redevelopment is also underway. The Raritan River Logistics Center from Brookfield Properties will deliver a new 973,395-square-foot building to 577 Smith St.

Cushman & Wakefield identified that development along with Kurv’s Market Street work as “key projects under construction” for the period across the market.

Part of the neighborhood

Beyond the dedicated land, plans for the Gateway Project also seek to minimize impacts for the surrounding areas. According to the city, trucks accessing the warehouse will use Riverview Drive at Smith Street to minimize traffic in business and residential areas. Additionally, berms, buffer landscaping and other natural methods will help downplay development impacts, Perth Amboy has said.

P.A.R.T.N.E.R. Executive Director Doug Dzema drew connections between the Gateway Project and what is happening in the larger neighborhood.

Revitalization isn’t just simply building something new. The question is, what will be different for the people that live here because of the investment that’s happening here?
– Doug Dzema, executive director, P.A.R.T.N.E.R.

The Perth Amboy Redevelopment Team for Neighborhood Enterprise and Revitalization he leads coordinates programs, partnerships and resources to support the Gateway neighborhood and its residents.

“Revitalization isn’t just simply building something new. The question is, what will be different for the people that live here because of the investment that’s happening here?” Dzema said.

The development creates direct ties to the community, and P.A.R.T.N.E.R. is “working to build on that momentum … And for the businesses and investors here today, there’ll be more opportunities to be part of what’s happening in the neighborhood. We’ll make sure of that.”

Investment is not isolated within the Gateway neighborhood in Perth Amboy, nor is it restricted to industrial. It comes as part of a broader transformation. At the start of the year, PARA approved a $200 million proposal that will bring more than 600 market-rate apartments to the banks of the Arthur Kill. Kushner Cos.’ Sea Gate project will span five buildings.

“Good redevelopment should create value beyond the property being developed,” Caba said at 555 Market St. “It should put property back into productive use. It should strengthen our economic foundation. And it should create lasting value for the city’s long future after today’s groundbreaking.”