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An affiliate of Cervenka Development Partners has secured site plan approval for a 119,706-square-foot industrial project at 12-18 Vanderhoof Ave. in Denville. — Courtesy: CDP
By Joshua Burd
Local officials in Denville have cleared the way for Cervenka Development Partners to build nearly 120,000 square feet of new high-end industrial space at a site just off Interstate 80.
According to the developer, the project at 12-18 Vanderhoof Ave. is now fully entitled and ready for construction after receiving site plan approval from the township’s planning board. That puts it on track for completion in the fourth quarter of this year, with plans calling for 36-foot clear ceiling heights and other modern features that will activate the 19-acre parcel.
“Sasha and I are extremely excited about this development opportunity in one of the hottest industrial markets in the country,” said Tom Cervenka, a principal with Cervenka Development Partners. “Being right off I-80, this site provides our tenants with access to a huge swath of the population, with the GW Bridge and Holland and Lincoln tunnels a mere 30 minutes away. This site will provide a significant rental discount to those sites geographically closer to New York and our roundtrip toll costs to the Port of Newark is only $5 per container.”
CDP developed a site plan as of right within Denville’s Dock Road Redevelopment district, the firm said. Chris Murphy and Lisa Lomelo of Newark-based Murphy Schiller & Wilkes LLP spearheaded the entitlement process, while Jeff Allen of Colliers Engineering spearheaded design.
The developer announced last fall that it had purchased the property from the municipality, with MSW’s Kellen Murphy acting as lead transactional counsel in connection with the acquisition and JLL’s Marc Duval, Jason Lundy, Jordan Avanzato, Nicholas Stefans and Jose Cruz arranging joint venture equity. At the time, the firm said the facility would have 18 loading bays, one drive-in door and parking for more than 50 cars and 13 trailers.
In announcing the site plan approval, CDP noted that the site provides access to more than 10 million people within a 30-minute drive and 20 million people within an hour’s drive.
Cervenka closes on 19-acre parcel in Denville, eyes 119,000 sq. ft. industrial project
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