Bell Works in Holmdel — Courtesy: Somerset Development
By Joshua Burd
Somerset Development has tapped Sabre Real Estate Group to oversee retail leasing at the 2 million-square-foot Bell Works complex in Holmdel.
The firm said this week that Sabre will serve as the exclusive leasing agent and will be responsible for attracting shopping, dining and other experiential tenants for the building’s quarter-mile-long atrium. Somerset has repurposed the atrium as a downtown-style pedestrian thoroughfare as part of its effort to reposition the landmark former Bell Labs campus.
Those retailers will draw from an expected daytime population of 5,000 workers who will populate the building’s office space, along with residents in the region. The facility is currently home to a café, gourmet coffee roaster and various pop-up vendors.
Sabre’s New York-New Jersey leasing team at Bell Works will be led by Principal Scott Sher, Senior Vice President Justin Korinis, Director Dina Santarelli and Associate Sean Pyle.
“Downtowns have historically been the neighborhood hub where people shop, eat, and gather,” Korinis said. “We are looking to curate an upscale, modern retail experience that would be reminiscent of that vibrant downtown.”
He added that the space will include a variety food and beverage, shopping and services, “but our focus is on identifying retailers and restaurants that bring something unique, chic and fun to the table, and that fit the personality of the Bell Works community.”
To date, Somerset Development has leased more than 75 percent of its 1 million square feet of office space. Last month, anchor tenant iCIMS celebrated the opening of its 350,000-square-foot headquarters at the building along Crawfords Corner Road, where it plans ultimately grow to 2,000 employees.
Other office tenants include WorkWave, a cloud-based business management and fleet management solutions, along with Guardian Life Insurance, International Flavors & Fragrances, Acacia Communications and Jersey Central Power and Light.
The building also hosts events, from regional networking symposiums to local community gatherings, along with the new Holmdel Township Library and Learning Center. Bell Works also recently unveiled a new rooftop deck and lounge for tenants and visitors.
“From a retail real estate prospective, Bell Works is such an outlier because it cannot be compared to anything that exists to date,” Korinis said. “It’s not simply the sum of the office space and the retail space; it’s an active, organic environment.
“The structure of the building is so unique that it provides all of the dynamic activity of a busy city street in a weatherproof, fully enclosed environment.”