Elberon Development Group, a third-generation family business, has been developing, constructing, owning, and managing commercial real estate for almost 100 years. Founded by David O. Evans in 1920, the company began as a general contractor. From its beginnings as a builder and seller of homes in Union County, New Jersey, the company has evolved into a full-service commercial real estate business, while maintaining a localized geographic focus in the same area where the business started. As the Port of Elizabeth and Newark and Newark Airport grew and prospered, Elberon continued to develop and own a portfolio of commercial real estate in close proximity. Through the past several decades, tenants have included General Motors, Kraft Foods, Wakefern Food Corp (Shop Rite), Federal Express, DHL, and the United States Postal Service.
Presently, Elberon Development owns and manages a portfolio of approximately 2 million square feet, much of which consists of warehouse space in Elizabeth, NJ, within two miles of either the airport or the Port. The portfolio includes several of the same properties originally developed by the founder of the Company, and several others acquired from third parties. During the past 10 years, many of the sites developed during the 1960s or 1970s have been demolished and redeveloped to create modern, state-of-the art warehouse and office space suitable for the exacting demands of today’s most quality-oriented tenants. Other properties not fully redeveloped have been substantially renovated or repositioned.
In 2012, the Company received the prestigious NJ-NAIOP Deal of the Year Award for a complex and time-sensitive transaction that resulted in development and construction of a 524,000-square-foot modern distribution and grocery warehouse for Wakefern Food Corp.
The Elberon Group’s most recent major project involves the purchase and planned redevelopment of two sites in Elizabeth, following acquisition of the property in December 2013 and the finalization of a joint venture with The Avidan Group. Ownership expects to construct one or more build-to-suit projects on the land.
Elberon will continue to look for opportunities to leverage its local expertise to grow through acquisition or development in the same geographic area. The Company also provides services to third parties on a selective basis in the form of property management, asset management, or consulting as to leasing, renovation, or development.
Developer returns to Elizabeth, with a focus on the booming port region
It amounts to only a small slice of history for a 100-year-old company, but there’s no disputing that the last two years have been especially significant for Elberon Development Group… Read more