Home Depot Signs 772,000 SF Build-to-Suit For Warehouse in Cranbury, NJ

Keystone Property Trust (NYSE: KTR) today announced that it has reached an agreement to develop an approximately 772,000 square foot distribution center for Home Depot USA, Inc. on 87 acres currently under contract at Station Road in Cranbury, NJ. The initial term of the lease will be for 12 years, and Keystone will retain ownership of the asset.

The project, located in the Exit 8A submarket, will be a modern, 32' clear, cross-docked facility with 150 dock doors, 238 car parking spaces, 426 trailer parking spaces, and an ESFR sprinkler system. The facility will have expansion capability of an additional 150,000 SF. Construction is expected to begin in October with occupancy scheduled for the fourth quarter of 2004. The project costs are estimated to be approximately $40 million." Sphere: Related Content