Man, 20, dies after falling 60 feet at construction site
November 19, 2017
By Sara Jerde
NJ Advance Media for NJ.com
A 20-year-old man died Sunday after falling 60 feet at a construction site in Piscataway Township, police said.
Police responded at 8:25 a.m. to the site at 171 River Road, where construction was being done on a warehouse, Piscataway Lt. Robert Garnecki said.
Additional details were not immediately available. The man's name was not released.
The industrial accident is being investigated in conjunction with OSHA, Garnecki said.
The property is a former brownfield site that was fully remediated by Union Carbide after the shutdown of a Bakelite plastics manufacturing plant in 1939.
The Rockefeller Group broke ground on two new buildings this past summer with an overall project cost between $225 and $250 million.
Since purchasing 171 River Road in 2014, Lincoln Equities Group and Real Capital Solutions worked closely with the township of Piscataway to redevelop this property, which had been vacant since the 1960’s. LEG developed a site plan and secured development rights to construct up to eight buildings ranging from 250,000 square feet to 700,000 square feet, as well as new roads, infrastructure, and landscaping.
Rockefeller Group Building Logistics Center on 228-Acre Piscataway Parcel
“We’re thrilled to move forward with the Rockefeller Group Logistics Center on one of the largest remaining developable sites in New Jersey at a time when demand for well-located and well-designed industrial product in the state is so strong,” says Rockefeller Group's Clark Machemer
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Lincoln Equities Group and Real Capital Solutions Sell 228-Acre Industrial Site in Piscataway to Rockefeller Group for $57 Million
July 5, 2017
Lincoln Equities Group LLC (LEG) and its partner, Real Capital Solutions, announced that the firm has sold a 228-acre industrial property at 171 River Road in Piscataway to the Rockefeller Group for $57 million. Formerly a brownfield site, the fully remediated property off Interstate 287 is fully entitled to build 2.4 million square feet of space for industrial distribution and light manufacturing development. The Rockefeller Group will break ground on two new buildings later this summer with an overall project cost between $225 and $250 million.
Since purchasing 171 River Road in 2014, Lincoln Equities Group and Real Capital Solutions worked closely with the township of Piscataway to redevelop this property, which had been vacant since the 1960’s. LEG developed a site plan and secured development rights to construct up to eight buildings ranging from 250,000 square feet to 700,000 square feet, as well as new roads, infrastructure, and landscaping.
“This property closes at an important time for the state’s I-287 corridor, which is now seeing significant interest from industrial developers due to its proximity to Newark’s airport, port and rail stations,” says Joel Bergstein, president, Lincoln Equities Group. “We purchased the site at 171 River Road three years ago when most developers were focusing on the I-95 corridor, and we’re fortunate to anticipate where the state’s next wave of development would take place.”
171 River Road is located one mile from Interstate 287 (with direct access off both Exits 8 and 9), close to Port Newark/Elizabeth, and is serviceable by “F Plate” rail cars. The property is a former brownfield site that was fully remediated by Union Carbide after the shutdown of a Bakelite plastics manufacturing plant in 1939.
“The development of 171 River Road is a great example of what happens when government and private business come together with a common goal,” says Brian C. Wahler, Mayor of Piscataway Township. “Thanks to our collaboration with Lincoln Equities Group, this former brownfield site – which sat empty for decades – is now positioned to attract businesses and jobs into our community, adding to our tax base.”
The Township of Piscataway offered a Payment in Lieu of Taxes (PILOT) as an incentive to businesses and committed to completely reconstructing Baekeland Avenue, which provides access to the site from Exit 8.
“We were glad to be able to partner with Lincoln Equities, the team there is a great partner that has the local operating expertise we value,” says Marcel Arsenault, CEO of Real Capital Solutions. “We are creative entrepreneurial money with a fortress balance sheet, which allows us to work with partners like Lincoln Equities to maximize results and be a one-stop-shop for debt and equity.”
David Bernhaut of Cushman and Wakefield represented the sellers.
Lincoln Equities Group and Real Capital Solutions are actively seeking new partnerships for future redevelopment and value-add projects.
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Rockefeller Group acquired the site in a transaction brokered by the Cushman & Wakefield team, along with David Bernhaut, Andy Merin, Gary Gabriel and Kyle Schmidt of Cushman & Wakefield’s Capital Markets Investment team.
Rockefeller Group’s plans for the development are propelled by the vigorous demand for modern, top-quality warehouse space in New Jersey, specifically within the I-287 industrial corridor. The Rockefeller Group Logistics Center will feature properties ranging in size from 200,000 to more than 800,000 square feet, accommodating users with a wide variety of size and infrastructure requirements. Flexible transaction options will allow for future users to lease or own industrial space.
Additional notable features and amenities of the Logistics Center will include excess trailer parking for each individual building, on-site rail service, two means of ingress and egress to the site, and an in-place 30-year “payment in lieu of taxes,” or PILOT, agreement.
“The opportunity that Rockefeller Group is creating through its project in Piscataway is truly exceptional, and is especially ideal for users involved in e-commerce, third-party logistics, food and beverage, retail or other consumer products,” Nissim said. “Beyond the park’s excellent infrastructure, its location provides immediate access to major transportation routes, offers rail service – a unique feature in New Jersey – and provides great access to the surrounding region’s robust labor pool.”
Since purchasing the property at 171 River Road in 2014, Lincoln Equities Group and Real Capital Solutions worked closely with the Township of Piscataway to redevelop the site, which had been vacant since the 1960’s. LEG developed a site plan and secured development rights to construct up to eight buildings ranging from 250,000 square feet to 700,000 square feet, as well as new roads, infrastructure, and landscaping.
“This property closes at an important time for the state’s I-287 corridor, which is now seeing significant interest from industrial developers due to its proximity to Newark’s airport, port and rail stations,” says Joel Bergstein, president, Lincoln Equities Group. “We purchased the site at 171 River Road three years ago when most developers were focusing on the I-95 corridor, and we’re fortunate to anticipate where the state’s next wave of development would take place.”
171 River Road is located one mile from Interstate 287 (with direct access off both Exits 8 and 9), close to Port Newark/Elizabeth, and is accessible by “F Plate” rail cars. The former brownfield site was fully remediated by Union Carbide after the shutdown of a Bakelite plastics manufacturing plant in 1939.
“The markets moved considerably and improved and our capital partner and ourselves decided it was an opportune time to exit,” Joel Bergstein, president, Lincoln Equities Group, tells GlobeSt.com.
“The development of 171 River Road is a great example of what happens when government and private business come together with a common goal,” says Brian C. Wahler, mayor of Piscataway Township. “Thanks to our collaboration with Lincoln Equities Group, this former brownfield site – which sat empty for decades – is now positioned to attract businesses and jobs into our community, adding to our tax base.”
The Township of Piscataway offered a Payment in Lieu of Taxes (PILOT) as an incentive to businesses and committed to completely reconstructing Baekeland Avenue, which provides access to the site from Exit 8.
“We were glad to be able to partner with Lincoln Equities, the team there is a great partner that has the local operating expertise we value,” says Marcel Arsenault, CEO of Real Capital Solutions. “We are creative entrepreneurial money with a fortress balance sheet, which allows us to work with partners like Lincoln Equities to maximize results and be a one-stop-shop for debt and equity.”
David Bernhaut of Cushman & Wakefield represented the sellers.