Local officials have cleared the way for Somerset Development to build a new 200-room hotel atop Bell Works, its adaptive reuse of the iconic Bell Labs complex in Holmdel.
Can tech firms, startups fuel job growth and new office requirements in New Jersey?
In a market that has been hurt by densification and lackluster job growth, many of the state’s largest office leases in recent years have been tied to tenants looking to consolidate and upgrade their space. But technology and information firms have been a rare source of expansion in New Jersey, fueling new space needs that are about more than just a flight to quality.
Making sure the Garden State can grow its technology sector is a matter of creating the right environment and promoting what the state can offer in the way of labor, education and accessibility. Experts say it’s also up to landlords to ensure that they provide the space that tech users are looking for.
The next step for Bell Works: With office space nearly full, retail takes center stage at landmark project
With at least 6,000 daily office workers set to occupy the building by next year, the effort to bring a distinctive mix of retailers, services and dining options to Bell Works is now well underway. That mix includes everything from a florist and a beauty salon to a 24-hour health club and an urgent care center, offerings that will serve both office tenants at the building and residents from the surrounding communities.