826K-Square-Foot Industrial Complex To Replace Vacant Morris County Offices

EAST HANOVER, NJ — Big changes are coming to part of Morris County. Developers purchased 62 acres of an East Hanover complex with plans to replace 900,000 square feet of vacant office buildings with an 826,800-square-foot industrial facility.

The site at Route 10 and Ridgedale Avenue is currently part of Novartis Corporation's 202-acre U.S. headquarter campus. The new project from Russo Development and Onyx Equities will become one of Morris County's largest new industrial projects.

“We are excited to redevelop a portion of one of northern New Jersey’s premier sites into a first-class industrial project,” said Russo Development CEO Edward Russo. “We appreciate the opportunity to work with East Hanover Township and Novartis as the company transforms its East Hanover campus to a more flexible and collaborative workplace design.”

Work will begin in early 2022 with a groundbreaking of two buildings ranging between 300,000 and 500,000 square feet before year's end.

“Morris County is a jewel for commercial uses of all types because of its extensive highway system and pool of highly qualified, skilled labor," said John Saraceno, Jr., managing principal for Onyx Equities.

Russo Development has completed more than 60 industrial projects in 50-plus years. The firm's short-term development pipeline includes more than 3,500 residential units and 6 million square feet of industrial space/

Onyx Equities — headquartered in Woodbridge — has acquired more than $2.3 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut.

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