Woodmont Industrial Partners and a major U.S.-based insurance company have formed a joint venture to recapitalize and acquire 400 Atrium Drive, a 30.6-acre industrial property in Franklin Township, New Jersey. Positioned within the highly desirable Exit 10 submarket along the New Jersey Turnpike, the acquisition and planned redevelopment of the property mark the first collaboration between the two entities.
Upon completion, 400 Atrium Drive will consist of over 370,000 square feet of Class A warehouse space spread across two modern facilities. The development will also offer generous surface parking to accommodate both cars and trailers, catering to the needs of logistics and distribution users.
“This project underscores Woodmont’s commitment to delivering top-tier industrial facilities in one of the Northeast’s most competitive markets,” said Anthony Amadeo, Executive Vice President at Woodmont. “With limited new inventory projected through 2026, this redevelopment is poised for long-term success.”
The transaction involved Cushman & Wakefield’s John Alascio and Chuck Kohaut, who arranged approximately $50 million in debt financing with New York Life.
