The Past: A Vision
In the 1960's, as manufacturing companies started to leave the cities, Forsgate assembled land in what is now known as the Meadowlands, an area in New Jersey immediately adjacent to New York City. It was the availability of land, and the resulting functional features that could be programmed into these facilities, which attracted tenants. And, of course, its proximity to a significant global market. Yet the desirability of this land was far from obvious.
In the 1970's, as regional commerce switched from manufacturing to distribution, facilities began to grow in size, sometimes reaching over 100,000 square feet. By the time the 80's arrived, companies were looking to distribute on a national basis, and that compelled the supply chain to relocate to areas that could reach as many customers as possible in the shortest time.
At this time Forsgate purchased over 500 acres at the well situated exit 8A of the New Jersey Turnpike, halfway between Boston and Washington DC. This allowed us to produce buildings for companies that were making that transition from manufacturing to distribution. Exit 8A became a place for the integration of offshore manufacturing into the supply chain.
As more and more goods were being produced in Asia, the Port of NY/NJ became a critical piece of the distribution puzzle and now Forsgate's key locations and state of the art features allowed us to take full advantage of this trend. By this point, market projects were approaching 1,000,000 square feet.
The Present: A Vision Updated
In the 21st century, Forsgate's focus continues to evolve. Our present strategy is driven by our forward commitment to rebuilding the older areas of our communities to service the evolving needs of our customers. We have seen their renewed interest in sites closer to the urban cores and we are taking advantage of it. Going back to areas like the Meadowlands, where we started, we are introducing a new kind of building into the distribution equation. The focus is on reconstruction of previously developed properties. Here our knowledge of the locality and expertise gained from experience is critical to the success of our tenants.
The Future: The Vision Continues
Making investments in off-market, underutilized sites in premiere locations, taking advantage of in-place infrastructure, and access to critical transportation networks allows us to build high quality buildings in high quality locations. The future supply chain will be more global than ever and we are prepared for this future. And our vision, as it's been in the past, is always on those locations whose advantages may not be immediately apparent. But since its inception, Forsgate has predicted, and taken advantage of, transitions in the supply chain. That objective will never change. It is good policy, it is good business; everybody wins.
Forsgate Industrial Partners: one step ahead. Again.
There is a distinct advantage to focusing our resources on New Jersey and the very carefully selected sites that we have developed. It makes it easier to focus on our customers. It makes it easier to provide more personal service to them. Our core business allows us to concentrate solely on assisting our clients in every aspect of their needs. This includes our continuing assistance, our continuing relationships.
There is a distinct advantage to being privately held. We answer to no one but ourselves and our clients. We recognize that value and investment potential are critical goals of real estate development and here especially is where our expertise and integrity become invaluable to them. Our understanding of the marketplace is shared and discussed with each customer in as much detail as necessary for their reassurance and security. Our understanding of the strategic locations, the sites and the buildings is vital to the ultimate success we want to share with you. Our objective – our ultimate focus -- is to build long-term associations based on firm and enduring commitments.
Forsgate Industrial Partners: Your partner.