Somerset Development has reached a new milestone at its landmark Bell Works project in Holmdel, surpassing more than 1 million square feet of leasing activity for office space at the repositioned former Bell Labs campus.
A boutique fitness studio has joined the tenant mix at Bell Works in Holmdel, leasing more than 2,000 square feet within the complex’s indoor pedestrian plaza.
The complex now known as Bell Works has earned another national distinction — being named the most iconic building in New Jersey by Architectural Digest magazine.
Seven new retail tenants have committed to Bell Works, the mixed-use campus that now occupies the landmark, 2 million-square-foot former Bell Labs complex in Holmdel.
At full build-out, the massive Bell Works project in Holmdel will be home to some 8,000 daily office workers. But newly unveiled plans for a rooftop hotel are a reminder of the project’s potential to be much more than a repurposed corporate campus.
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.
A new state-of-the-art public library will be part of the sprawling, mixed-use environment that is taking shape at the redeveloped former Bell Labs complex in Holmdel.
A panel discussion hosted by NAIOP New Jersey focused on why and how “next-generation” companies are able to grow in the Garden State — and how the commercial real estate industry can support them in their growth.