For one of the state’s largest public-private partnerships in recent memory, the benefits of the sprawling Central 9 Logistics Park in Old Bridge go even deeper than the new 18-hole municipal golf course, traffic upgrades and other pieces of the project’s more than $35 million in offsite improvements.

Developer Efrem Gerszberg said as much Friday as he accepted United Way of Northern New Jersey’s Industrial Impact Award in connection with the nine-building, 4.2 million-square-foot industrial campus that’s taking shape on Route 9.

“More important, and consistent with the United Way, is the fact that this will generate over 2,000 permanent jobs in Old Bridge,” said Gerszberg, the CEO and sole principal of 2020 Acquisitions. “And most of them will probably come from the local community, helping people work close to their homes, which is an important factor when looking at any industrial project.”

The message was especially fitting as United Way marked its 25th annual Legacy Event, a fundraiser that has enjoyed outsized, longstanding support from the state’s commercial real estate sector. This year’s program was no different, drawing some 400 attendees to the Meadow Wood in Randolph and raising $335,000 for the population that it calls ALICE, an acronym for those who are asset-limited, income-constrained and employed and represent the essential workers who struggle to afford the basics.

Read the full article on RE NJ