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SITE HISTORY
Former Ingersoll-Rand Facility Phillipsburg & Lopatcong Township, New Jersey

Opus KTV LLC is a single purpose entity formed for this redevelopment and comprises seasoned, well-versed
real estate professionals with an expertise in acquiring and redeveloping environmentally impacted properties
(Brownfields). Opus KTV identified the former Ingersoll-Rand property as a well located land parcel with industrial
zoning in need of redevelopment in the desirable greater Lehigh Valley.

The Property was a former manufacturing facility for Ingersoll-Rand’s Pumps Division. IR manufactured pumps
for the Department of Defense. The Property was in use from 1899 until 2000, when Ingersoll-Rand sold off their
pump division the manufacturing was moved.

The Property was purchased by a developer in 2004 who was unable to proceed with their plan due to the global
economic downturn. That developer subsequently lost the Property in bankruptcy.

Opus/KTV acquired several parcels through the bankruptcy proceedings, acquired the Lopatcong portion of the site
from Ingersoll Rand, and purchased the remainder of the land from the Town of Phillipsburg, who had taken back a
portion of the Property for unpaid taxes.

Since presenting a Conceptual design in Spring of 2015, the project has received unanimous support from the
Phillipsburg Town Council and the Warren County Economic Development Authority, both of whom have been
instrumental throughout the entitlement process in coordinating efforts with various public agencies. The project
has been received with enthusiasm and cooperation by the New Jersey Department of Environmental Protection,
the New Jersey Department of Transportation, and the New Jersey Department of State.

The project team has successfully and creatively overcome many of the obstacles that prevented the previous
developer from completing the redevelopment. Several unique engineering challenges existed on this former
industrial site, including undulating topography, hence the necessity to import fill to create a site able to
accommodate large one-level buildings. The approved General Development Plans provide the flexibility to respond
to a variety of tenant requirements.

The General Development Plans (GDP) were approved in the Spring of 2016, and Final Site plan Approval and
Infrastructure Approvals are anticipated in July 2017. Site work is expected to commence in late Q3 2017.

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