DRBA Commission Approves Four New Leases at Cape May Airport
Pre-Occupancy Rate at 50% for Recently Constructed Light Industrial Building
(Erma, New Jersey) Today, Delaware River and Bay Authority (DRBA) officials announced four leases for the new light industrial building located at 251 Ranger Rd. in the Cape May Airport Industrial Park. The DRBA Commissioners unanimously authorized the lease arrangements at the January monthly meeting. The new leases represent 7,500 SF of the 15,000 SF building.
“Working with Cape May County officials, we’re focused on creating an environment where businesses can flourish at Cape May Airport,” said Thomas J. Cook, Executive Director at the DRBA. “The Airport is currently undergoing a significant transformation to improve infrastructure and add facilities that will attract new companies, facilitate the growth of its existing tenants, and create new job opportunities for the residents of Cape May County. We’re just getting started.”
The first four tenants include SRL Floor Covering, Surfside Custom Marine Canvas, George’s Auto Repair, and a gym/training facility. SRL Floor Covering, which currently occupies 1,500 SF of existing space in the business park, is relocating and expanding to 3,000 SF in the new building. The owner of Surfside Custom Marine Canvas – a canvas and upholstery fabrication shop looking to expand and grow the business – is leasing 1,500 SF at the new facility. George’s Auto Repair, a strong anchor tenant, is relocating to the new space while a 4th tenant plans to establish a gym and training facility in a 1,500 SF section of the building. Tenant fit-out is expected to begin in March and continue into the summer.
According to Victor Ferzetti, Chief Financial Officer for the DRBA, additional businesses are coming. “We continue to have commercial, industrial and retail prospects who have expressed interest in being part of the airport business community,” Ferzetti added. “Local interest and business activity has been incredible and it appears we may need more space.”
In June 2016, the DRBA began construction on a new light industrial building on Ranger Road, west of the intersection with Hornet Road, which is currently under County construction. In January 2017, this new 15,000 SF ‘core and shell’ building was completed and current plans call for four finished units, three at 1,500 SF each and one larger 3,000 SF unit. The remaining sections of the building are available for fit-out in 1,500 SF increments. The site plan also envisions the construction of a similar building nearby.
For information on prospective business opportunities at Cape May Airport, please contact Ms. Michelle Griscom at 302 571-6482 or via email at email@example.com.
About the Delaware River and Bay Authority
The DRBA, a bi-state governmental agency created by Compact in 1962, owns and operates the Delaware Memorial Bridge, the Cape May- Lewes Ferry, and the Forts Ferry Crossing. The DRBA also manages two airports in New Jersey (Millville Airport and Cape May Airport) and three in Delaware (New Castle Airport, Civil Air Terminal and Delaware Airpark). All DRBA operating revenues are generated through the bridge, ferry and airport facilities. For more information, visit www.drba.net.
PDF of Press Release
New Light Industrial Building