Perth Amboy Mayor Wilda Diaz said Thursday Home Depot U.S.A. Inc. will establish its newest warehousing facility in the City of Perth Amboy.
The project is set to generate 400 to 600 potential new jobs and new public amenities. The Elm Street Logistics Center project, which is expected to be completed by the end of 2020, consists of both business and public property development, according to a news release.
The Elm Street Logistics Center has invested more than $100 million in the remediation and construction of 92 acres of modern warehouse facilities.
“We have facilitated significant expansion in the City of Perth Amboy through the redevelopment of brownfields. It has fueled job creation and economic growth in the past few years. Through the work of the Redevelopment Agency and the confidence of our investors we have attracted several outstanding businesses this past year, including Target, The RealReal and we are pleased to welcome our latest investor, Home Depot, to Perth Amboy,” said Diaz.
Duke Realty recently acquired the Elm Street Logistics Center, where the new Home Depot warehouse will be located.
“In particular, we are pleased to have executed a major transaction with one of our largest customers,”Duke Realty said in its second-quarter release. “We signed two leases totaling 1.3 million square feet for two build-to-suit logistics facilities for Home Depot U.S.A Inc. The facilities are located on an in-fill redevelopment site in the Perth Amboy submarket of Northern New Jersey.”
Most of Perth Amboy industrial sites are located in the outskirts of the community, a far distance from residential property. The unique feature of this particular redevelopment project is that it will create public access, near and around the commercial property at the gateway of the city.