In the Spring of 2022, WDG and their development partner, Axiom Real Estate Solutions, received insight from their broker partners in Tampa, FL, about 8.4 acres that will soon become available on the signalized corner of Sunlake Blvd & FL-54. The owner was an industrial developer who had developed ~350,000 square feet of flex space and had excess land for retail. WDG went under contract on the land in the Spring of 2022 and was able to do so from the strong relationships with brokers in the market. This was a very sought-after corner for retail, as it had roughly 70,000 cars pass the site per day, excellent access on both streets, and overall great positioning in a strong growth area. WDG did not have the luxury of time to get signed leases in hand before their land closing date but had high conviction that the site was worth taking leasing risk on. WDG purchased the land using a low leverage land loan in January 2023 with briefly negotiated letters of intent from Fifth Third Bank, Outback, Walgreens, and Cava. The seller delivered the site in pad-ready condition with Florida Dept of Transportation permits. WDG executed leases with Outback, Bojangles, Dutch Bros, Fifth Third Bank, McDonalds, Walgreens, Cava, and sold the last parcel to Kiddie Academy. WDG then refinanced out of the land loan in April 2024 having already performed a month of additional site work. WDG performed build-to-suits on Cava and Walgreens, and delivered the rest of the pads curb-in. 

Bordentown Crossroads (BC1) is a 179,800 SF speculative Class A rear-load distribution center located at Exit 7 of the New Jersey Turnpike—one of the most competitive and highly sought-after industrial corridors in the country.

Despite being surrounded by institutional-grade industrial developments, the 14-acre site had been largely overlooked due to its fragmented ownership, non-conforming uses, and entitlement challenges. WDG identified the opportunity where others hadn’t, assembling nine separate parcels, including eight single-family homes and a tax-exempt property, none of which aligned with the existing industrial zoning.

With the properties secured under contract, WDG collaborated closely with Bordentown Township officials to craft and adopt a Redevelopment Plan and Agreement, unlocking the site’s potential. To further overcome logistical hurdles, WDG negotiated an easement purchase to secure access, ensuring the project’s viability.

Recognizing the value created through entitlement and strategic site planning, WDG brought in Hillwood Investment Properties as its JV partner to capitalize the nearly $40 million project. Strong relationships with the township and community stakeholders were maintained throughout, reinforcing a shared vision for a high-quality development.