Bell Works New Jersey in Holmdel — Courtesy: Inspired by Somerset Development
By Joshua Burd
The landmark Bell Works complex in Holmdel is all but fully leased after a flurry of activity in 2023 involving nearly two dozen companies.
Inspired by Somerset Development, the property’s owner, said the transactions comprise a series of expansions and new commitments at the 2 million-square-foot mixed-use property on Crawfords Corner Road. They include both traditional office space and Bell Works’ Ready-To-Wear offering with prebuilt suites and flexible, short-term leasing options.
As a result, the property is now 99 percent leased. The Garibaldi Group serves as Bell Works’ office leasing team, while Sabre leads retail leasing on ownership’s behalf.
“As we mark the 10-year milestone of our Holmdel metroburb, I am immensely proud of the leasing success at Bell Works New Jersey and Bell Works Chicagoland in 2023,” said Ralph Zucker, CEO of Inspired by Somerset Development, referring to the firm’s sister project in Hoffman Estates, Illinois. “These spaces continue to surpass industry standards, defy trends and highlight the staggering demand for high-design, amenity-rich assets. They are more than just offices — they are vibrant hubs showcasing the transformative power of community-driven innovation.”
Inspired highlighted on Tuesday many of the deals in New Jersey, including:
- Vydia, an end-to-end music technology platform that provides labels with the infrastructure and tools to power their business, expanded its lease to include an additional 2,858-square-foot suite and extended its lease for both units
- MACOM, a high-performance semiconductor products manufacturer, extended its 3,000-square-foot lease for one year
- LeagueMed Enterprises, a digital community for physicians and health care executives, leased 1,133 square feet
- Roam Pets, a protein-based pet food company, leased 520 square feet
- Onyx Equities, a real estate investment and property services firm, extended its 1,739-square-foot lease for five years
- Movement Mortgage, a home loan provider, extended its 1,590-square-foot lease for three years
- Northeast Financial, a financial services firm, relocated its company headquarters to Bell Works, and in doing so expanded its lease to an additional 6,648 square feet
- On The Mark, a full-service marketing agency, leased 1,660 square feet
- LotLinx Inc., a company specializing in car-business leasing technology, leased 1,091 square feet
- Goldstone, a residential and commercial real estate company, extended its 1,656-square-foot lease for one year
- Flexible Architecture and Simplified Technologies, an automation technology platform developer, signed two individual leases for a 3,301-square-foot office suite and a 2,960-square-foot office suite
- SilverPoint Technologies, a floor care solutions company, leased 1,443 square feet
- Liberty Elevator, a commercial elevator services provider, expanded its lease to include an additional 1,436 square feet
- Optessa, an advanced planning and scheduling software company, leased 2,102 square feet
- Astrix Technology, a scientific and IT staffing and recruitment company, leased 1,590 square feet
- CFG Management, an influencer marketing agency, leased 1,095 square feet
- The Lotter, an online lottery ticket-purchasing service, leased 1,686 square feet
- Bridge Technology, a talent acquisition company, extended its 478-square-foot lease for two years
- Brightest Day Labs leased 1,886 square feet
Inspired noted that CoLab, Bell Works New Jersey’s coworking offering, saw continued growth in 2023 with all 66 private offices leased and 66 of its 68 dedicated desks leased. A total of 140 active companies use the flexible workspace facility, with a total headcount exceeding 400 employees, while more than 50 individuals were on the waitlist for its private offices as of December.
Due to the surging demand, Inspired said it’s planning to build another 15,000-square-foot phase for CoLab.
The firm added that Bell Works’ Creative Director Paola Zamudio and her team at NPZ studio+ curated the interior design for the Ready-To-Wear workspaces.
Inspired detailed the transactions as part of more than 120,000 square feet of leasing activity across its Bell Works New Jersey and Chicagoland locations. The firm also marked other milestones in 2023, including the launch of its third-party buildout and tenant improvement platform and approvals for 164 high-end townhouses in Hoffman Estates, which will begin Bell Works Chicagoland’s highly anticipated residential component when the developer breaks ground this spring.
Local officials also granted preliminary approval of a concept plan for roughly 300 apartments to be built on the same nearly 20-acre site, according to a news release Ultimately, Inspired plans to offer 550 residential units to individuals and families located in Hoffman Estates and the surrounding areas.
