Strong momentum at the mixed-use campus’ “Ready-to-Wear” spaces drives overall office leasing at the reimagined historic Bell Labs building to more than 90 percent
HOLMDEL, N.J. — Somerset Development announced that 16 new office leases at Bell Works, the successful revitalization of the two-million-square-foot Bell Laboratories in Holmdel, N.J. The latest office users to join the mixed-use ‘metroburb’ – a self-contained metropolis in a suburban locale – further boost the historic landmark’s successful transformation into a popular destination to work, shop, dine, stay, entertain, and more.
Bell Works continues to experience incredible leasing momentum, with roughly one million square feet of office space now leased, including 90 percent of its “ready-to-wear” offices, which range from 500 square feet to 4,500 square feet. Each ready-to-wear office is custom designed by NPZ Style + Decor, led by Bell Works Design and Creative Director Paola Zamudio, to create a one-of-a-kind space that will inspire creativity and collaboration. Of the 16 recently signed office leases, 15 were signed for “ready-to-wear” space, and Somerset plans to dedicate additional square footage for these designed spaces in 2020.
Somerset Development was represented in each of the transactions by The Garibaldi Group President Jeff Garibaldi, Vice President Tara Keating and Broker Support Analyst Lindsey Florio - its exclusive team of office leasing agents. In total, the new tenants will occupy approximately 48,000 square feet of the mixed-use metroburb, including an 18,993-square-foot office for national tax advisory firm CohnReznick.
“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. 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,” said Ralph Zucker, President of Somerset Development. “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.”
The recently signed tenants (in addition to CohnReznick) are:
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 ten 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 Corporation (NEPC), a comprehensive financial services firm committed to helping individuals, families and businesses improve their long-term financial success. With 50 years of experience in all areas of financial planning and backed by The Guardian Life Insurance Company of America, NEPC is one of the Tri-State area’s largest, oldest and most respected independently owned financial services companies.
NutraSourceRD, a leading nutrition consulting company providing registered dietitians to healthcare facilities. NutraSourceRD hires Registered Dietitians to work in its managed facilities, providing continuous oversight while guaranteeing the work performance of each dietitian.
Prospect Capital Restaurants, LLC, a multi-unit franchisee operator with 10+ Jersey Mike’s Subs locations and several Mamoun’s Falafel throughout New Jersey.
Quest Group, a global executive search, staffing, and business solutions firm with offices in Atlanta, GA; Philadelphia, PA; and New York, NY. Through strategic partnerships, Quest Group assists clients with their human capital, talent acquisition, and business solutions needs.
Rubicon Project, a leading technology company automating the buying and selling of advertising. Relentless in its efforts for innovation, Rubicon Project has engineered one of the largest real-time cloud and Big Data computing systems, processing trillions of transactions within milliseconds each month.
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 high performance consulting firm focused on providing cohesive and sustainable IT infrastructure solutions to growing companies. Tel-Networks, LLC specializes in providing organizations with Full Life Cycle services in Unified Communications both on Premise and Hosted, Virtualization, Network Server and Data Center design and full Private Cloud Hosted solutions to increase productivity and improve business operations.
“Bell Works provides a truly unique office environment and dynamic that is unrivaled in New Jersey and across the country,” said Jeff Garibaldi, President of The Garibaldi Group. “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.”
Bell Works’ quarter-mile long atrium has been reimagined into a publicly accessible destination for shops, restaurants, healthcare, community services, and more. Today, Bell Works’ tenants and visitors alike can take advantage of the convenient retail options popping up on the pedestrian street. Recent openings include OceanFirst Bank, a community bank offering commercial and residential financing solutions, wealth management, and deposit services; Dimension Dental, a premier dental support organization with a network of locations throughout New Jersey and Pennsylvania; and City Barn | Country Penthouse, a boutique offering home, bed, bath, and other gift items, in addition to home design consultation services. Friction Design, a boutique real estate marketing firm specializing in mixed-use projects, was recently engaged by Somerset Development to help manage the ongoing and future retail marketing efforts for The Block at Bell Works.
Visitors and workers at Bell Works can also choose from a handful of dining options at the newly-opened Bell Market. Spearheaded by Richard and Chantelle Corbo of RBC Hospitality, the market features: Honeybell Bakery, baked goods and coffee; Broadfork, fresh made-to-order salads; Jozu, poke bowls and traditional sushi rolls; Bubz Deli, customizable subs and deli sandwiches; and Corbo & Sons Pizza, brick-oven baked pizza and bread. The Block at Bell Works additionally offers a wide variety of dining options, including: Mexican restaurant Estrella Azul; Italian restaurant Mezza Luna; and The Hummus & Pita Co., offering homemade fresh Mediterranean cuisine.
The metroburb will soon offer even more “play” to its live-work-play atmosphere and welcome three new entertainment venues this summer. Joining The Block’s growing roster are: Swing Loose, an indoor golf facility; Escapology, a real-life escape game experience; and OasisVRX, a state-of-the-art virtual reality center.
Already a bustling hub for events, from regional networking symposiums to local community gatherings and private celebrations, Bell Works recently hosted its first wedding earlier this spring in its lower level ballroom. Further enhancing Bell Works’ appeal as a world-class event venue is the addition of a 186-room hotel on its rooftop, slated to open in fall of 2021. Designed to seamlessly complement the building’s renowned architecture, the hotel will also include a rooftop restaurant, bar, lounge area and infinity pool— complete with panoramic views of the surrounding campus.
With the addition of the new office tenants and retail options, Bell Works, formerly the historic Bell Labs research facility, is continuing its dramatic transformation into a ‘metroburb.’ Today, the building welcomes over 3,500 workers daily, as well as regular visitors interested in shopping, dining or perusing the weekly Farmers Market. Also, a popular destination for Holmdel residents, Bell Works is home to the brand new Holmdel Library and Learning Center as well as the Holmdel Montessori school.
Originally constructed between 1962 and 1964 by world-renowned modernist architect Eero Saarinen, the building is revered for its role in spurring the development of some of the world’s foremost inventions and research concepts. In its 40-plus year history as the research headquarters for Bell Laboratories, Lucent, and Alcatel-Lucent, the building housed a total of seven Nobel Prize winners, including those who conceived theories for the laser, the Big Bang theory, cellular technology, the transistor, and more.
Situated along Crawfords Corner Road, Bell Works is approximately one mile from Exit 114 of the Garden State Parkway. Its central New Jersey location provides easy access to points north and south. For more information and leasing inquiries visit Bell Works at www.Bell.Works. Follow Bell Works’ social media pages on Facebook at www.Facebook/BellWorks and @BellWorks on Instagram and @BellWorksNJ on Twitter. For retail leasing, contact Sabre Real Estate Group at (201) 509-4026 or firstname.lastname@example.org. Or, for office leasing inquiries, contact The Garibaldi Group at (973) 507-0369 or Keating@garibaldi.com.
About Somerset Development
Somerset Development is a leading real estate developer focusing on large-scale transit oriented and brownfield redevelopment projects headquartered in New Jersey, led by a team of principals with more than 40 years of development experience. The company has positioned itself as one of the region’s foremost real estate firms specializing in innovative mixed use and adaptive reuse projects, including the planning and development of Traditional Neighborhood Design communities that evoke a strong sense of place and reflect a distinctive character.
With several high profile, large-scale redevelopment and development projects under construction or in the planning stages, Somerset has earned a quality reputation for its unwavering commitment to excellence through responsible development practices. For more information on Somerset Development, contact the company by calling (732) 367-2828 or via the company’s website at www.SDNJ.com.