Bell Works in Holmdel — Courtesy: Somerset Development
By Joshua Burd
More than a dozen new tenants have joined the roster at the mixed-use Bell Works project in Holmdel, bringing overall office leasing at the complex to more than 90 percent.
Somerset Development, which has repositioned the 2 million-square-foot former Bell Labs campus, announced this week that it has signed 16 new office leases alongside its office leasing agent, The Garibaldi Group. The new tenants will occupy roughly 48,000 square feet at the property — bringing office leasing at Bell Works to roughly 1 million square feet — including an 18,993-square-foot commitment by national tax advisory firm CohnReznick.
The other new additions include:
- Avlino Inc., a software company that designs, develops and delivers industry-specific AI-powered solutions that focus on resolving pain-points within organizations
- Beverage Works, the largest Red Bull distributor in the world, servicing the greater New York and New Jersey territories since 2000
- Edward Jones, a full-service financial services firm offering a complete range of investments and services to individual investors through its branch network of more than 14,000 locations
- Fairview Funding LLC, an organization primarily operating in the factoring services industry within the nondepository credit institutions sector
- FFW, an enterprise web strategy, design and development company headquartered in Copenhagen, Denmark, with offices in 10 countries
- Homesite Group Inc., a property and casualty insurance company that provides individuals, families and businesses with customized, affordable insurance policies that help protect their home and property against serious financial loss due to unexpected events
- KimShe International Grain and Feed LLC, a company that specializes in the procurement and exportation of corn, soy and dried grains from various locations within the Midwest of the United States to China and elsewhere in South East Asia via container vessels
- Northeast Planning Corp., a comprehensive financial services firm committed to helping individuals, families and businesses improve their long-term financial success
- NutraSourceRD, a nutrition consulting company providing registered dietitians to health care facilities.
- Prospect Capital Restaurants LLC, a multi-unit franchisee operator with more than 10 Jersey Mike’s Subs locations and several Mamoun’s Falafel stores throughout New Jersey
- Quest Group, a global executive search, staffing and business solutions firm with offices in Atlanta, Philadelphia, and New York
- Rubicon Project, a technology company automating the buying and selling of advertising.
- SpoofCard, a telecommunications company that allows customers to make calls and send text messages privately
- Systematic Trading Labs, a quantitative investment management firm that utilizes proprietary predictive modeling technologies to trade 24/7 across dozens of electronic derivatives markets around the world
- Tel-Networks, LLC, a consulting firm focused on providing cohesive and sustainable IT infrastructure solutions to growing companies
“We are thrilled to welcome these 16 innovative companies to Bell Works, each of which will help add to the incredible vitality of the metroburb,” said Ralph Zucker, president of Somerset Development. “Our office space is now almost fully leased, which serves as a testament to the exceptional growth we’ve seen in just the last few years.
“We continue to be impressed and pleased by the success of our ready-to-wear office space, which provide companies with a turnkey solution, complete with elevated design and technological capabilities. We look forward to bringing aboard new office tenants, as well as more of the unique retailers, restaurants and entertainment venues to help make the metroburb one of the most exciting commercial destinations in the country.”
Somerset Development was represented in each transaction by The Garibaldi Group President Jeff Garibaldi, Vice President Tara Keating and Broker Support Analyst Lindsey Florio, who make up its exclusive team of office leasing agents.
The activity includes 15 leases for what Bell Works calls its ready-to-wear offices, which range from 500 square feet to 4,500 square feet. Each unit is custom designed by NPZ Style + Decor, led by Bell Works Design and Creative Director Paola Zamudio, to create a unique space for the tenant.
The new leases have helped Bell Works lease 90 percent of the ready-to-wear space, according to a news release. Somerset plans to dedicate additional square footage for the spaces in 2020.
“Bell Works provides a truly unique office environment and dynamic that is unrivaled in New Jersey and across the country,” Garibaldi said. “Tenants continue to be drawn to its combination of modern office space and an abundance of modern amenities, including shopping, dining, fitness and entertainment options. We’re proud to be part of the team that’s helping shape a truly collaborative community at the metroburb.”