NJBiz Reports Bell Works Has LOI From High-End Hotel & Office Interest
In February NJBiz.com visited the Bell Works site in Holmdel, NJ to take stock of the redevelopment currently in progress for the two million square foot mixed-use facility, as well as to get the up-to-date vision from the visionary himself, Somerset Development President Ralph Zucker. According to Zucker, his firm already has a letter of intent with a “high-end hotel operator that will manage the 251-key facility”. He goes on to say that they are also in discussions with “more than 500,000 square feet worth of prospective (office) tenants, seeking between 20,000 and 300,000 square feet”.
As for the retail element, the firm says that they have lined up tenants such as a “high-end Italian restaurant and a gourmet market operator that could start serving food by the spring, and the building will also house a new library for Holmdel”. Zucker also restated his intention and guiding principle for the property, which is to create “a four-star ‘knowledge center’ that caters to Wall Street, pharmaceutical firms and other sectors, while drawing an estimated 600,000 visitors to the site annually”.
Bell Works has been a project long in the works for Somerset Development, who first expressed interest in the property back in 2008 and would not break ground on their plans for more than five years afterwards.
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For leasing information in regards to office space at Bell Works please contact Tara Keating and/or Kyle Mahoney. For leasing information in regards to retail at Bell Works please contact Michele Wilk and for further information on the project in general please visit the Bell Works website.