Advance Realty Investors is breaking ground in Bedminster on a build-to-suit, 30,000-square-foot global headquarters for Freshpet, with plans to add 20,000 square feet of new retail space as part of a broader plan to transform a campus on Route 206. — Rendering courtesy: Advance
By Joshua Burd
A project that will create a new corporate headquarters in Bedminster is jumpstarting Advance Realty Investors’ expansion of a campus on Route 206, where it also plans to add 20,000 square feet of ground-up retail space that will serve a growing corridor of blue-chip companies.
The firm on Thursday is slated to break ground on a new 30,000-square-foot, build-to-suit headquarters for Freshpet Inc., the global company known for its refrigerated pet food. The rare ground-up office building will rise on what’s currently vacant land at the two-building, 77,000-square-foot campus at 1420 and 1430 Route 206 — the site of Advance’s own headquarters — providing a new home for roughly 100 Freshpet employees starting early next year.
It’s also a catalyst for Advance’s transformation of the 15-acre property, paving the way for the planned retail, dining and amenity space that will become Bedminster Village Square in 2026.
“The thought of bolstering the amenity program for our office end users was something that was very attractive,” said Alex Cocoziello, principal and chief investment officer for Advance Realty Investors. “And as time has evolved here and demand trends have changed, Freshpet approaching us … with the desire to build a trophy office building in a bespoke way to meet their needs was just confirmation that the investment profile of developing suburban campuses into vibrant, mixed-use walkable communities is very strong in northern New Jersey.”
Cocoziello noted that Bedminster sits at one corner of the “wealth triangle” formed by Interstate 78, Interstate 287 and Route 24, one that “has always been a major artery for Class A office stock” and the types of companies with skilled, affluent employees. That’s been on display in recent years with new build-to-suit projects for major corporate users in Morristown and Summit, even as the broader office market has contracted over the past decade.
Creating a vibrant, multifaceted setting at the Bedminster campus would help tap into that demand, as Advance is now doing with Freshpet, while also serving tenants such as AT&T across the street at 1405-1425 Route 206.
“The appreciation of rental rates and the delivery of trophy, best-in-class, investment-grade office product is well received by the marketplace,” Cocoziello said. “That’s prevalent in Summit, that’s prevalent in Morristown and now that’s becoming the case in Bedminster.”
The Garibaldi Group’s Jeffrey Garibaldi Sr. and Jackie Madden represented Freshpet, which will relocate from Secaucus, citing the “incredible dedication” that co-founder Scott Morris and his team “had to the idea that they were making a move to improve company culture and have a building that matched their vision.”
“It was a marketing effort, a recruitment effort and a move to hopefully show their employees that their comfort and enjoyment came first in their decision,” Garibaldi said. “The office market had an overwhelming supply of vacant space, but most options were in older, antiquated product and didn’t get Freshpet excited.
“Freshpet wanted a building that felt inspiring, and when the discussion turned to building something new, it was exciting to watch the imagination of Scott and the Freshpet team run wild with possibility.”
The talks with the NASDAQ-listed company moved quickly, Cocoziello said, crediting the Garibaldi team. That paved the way for an executed lease and the start of the design process, culminating in the township approving the new office and retail buildings last year.
“That process to get approvals was very swift,” he said. “And credit to the town of Bedminster to move quickly here to get a Class A tenant with a great employment base, skilled labor and a lot of jobs being relocated to Bedminster. Without that speed, the deal would not have happened.”
Designed by Nancy Dougherty of Short Hills-based Studio 1200, the new building will evoke Freshpet’s commitment to environmental stewardship and sustainable design with the use of healthy materials and renewable sources, electric vehicle charging stations and innovative energy efficiency measures, the company said. It will also look to reflect Bedminster’s inherent charm and character, in a location that’s minutes from the town’s central business district.
Bedminster Village Square, meantime, will have significant additional landscaping and a system of pedestrian paths that connect to the extensive hike-and-bike infrastructure in Bedminster’s open space network, Advance said. The firm also plans to enhance the 87,000 square feet of existing office space on the campus with cutting-edge updates and design strategies, fostering modern innovation and collaboration in engaging workspaces.
ConnectOne Bank provided construction financing for the Freshpet building, with Iron Hill Construction Management serving as general contractor. Gladstone Design Inc. provided civil engineering and site design for the retail buildings, which will rise along Route 206
“We’re excited to break ground on our new global headquarters in Bedminster,” said Morris, the Freshpet co-founder. “This location offers exceptional access to major roadways and a bucolic environment that aligns with our commitment to a balanced work-life experience. The additional retail and amenities planned by Advance will create a vibrant and supportive campus for our team. We appreciate the warm welcome from Mayor Larry Jacobs and other township and Somerset County officials, which reinforces our decision to make Bedminster our new home.”
