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Somerset Development Unveils 'Bell Works' Mixed-Use Center in Holmdel, N.J.

Adaptive Reuse of Architecturally Distinct, 2 Million-SF Former Bell Labs Building Currently Underway

 

Holmdel, N.J. (July 16, 2014) — Marking a new chapter for one of the country’s most architecturally and historically significant buildings, Somerset Development has announced a new name for the iconic former Bell Labs complex in Holmdel, N.J. The two-million-square-foot building – now named Bell Works – is currently undergoing a more than $100-million adaptive reuse redevelopment that will transform the facility into a dynamic mixed-use center.

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Under Somerset’s transformative plan for Bell Works, a pedestrian promenade is being created within the building’s existing Atrium that will serve as the central gathering space of this new destination, connecting tenants and visitors to a host of dining, entertainment, and health and wellness services, along with renovated office space and educational facilities, a hotel and conference center. In keeping with the vision for Bell Works as a place of collaboration, the building’s Atrium – which spans approximately one-quarter mile – will also serve as a world-class venue for community, cultural and business events – from farmer’s markets and art exhibitions, to industry conferences and musical performances.

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The announcement of a new name for the center coincides with its official opening to prospective commercial tenants. The Garibaldi Group and M. Wilk Consulting serve as Bell Works’ exclusive office and retail leasing agents, respectively.

 

Originally designed by world-renowned modernist architect Eero Saarinen, the complex met the needs of the Bell Laboratories for many years. Originally constructed between 1962 and 1964 and expanded in 1982, the building is revered for its architectural distinction, as well as for its role in spurring the development of some of the world’s foremost inventions and research concepts.

 

“We selected the name Bell Works to celebrate the building’s rich history and original purpose as a great place designed to foster innovation and collaboration,” stated Ralph Zucker, President of Somerset Development. “Today, companies are increasingly looking for office space solutions that are part of a dynamic, multi-faceted environment to appeal to today’s employee base. We believe the transformation of this building into a vibrant center will position it strongly as an office and mixed-use destination that affords immediate access to amenities and services not available in traditional suburban office campuses.”

 

Approximately 750,000 square feet at Bell Works will be office space. The Garibaldi Group team leading the office leasing and marketing assignment for the building includes Jeffrey Garibaldi, President; Tara Keating Freeman, Vice President; and Kyle Mahoney, Associate Vice President.

 

“Somerset is creating a truly one-of-a-kind opportunity for the greater New York/New Jersey/Philadelphia regional marketplace, where office space users will experience an environment more akin to an urban setting than a suburban office campus,” commented Garibaldi. “Year-round, employees will come to work in a covered, vibrant, street-like setting, and will be able to simply walk out of their office doors to grab a bite to eat, meet a friend for coffee, or go to the gym. That level of accessibility and dynamism is what we believe tenants today are searching for as they look to attract talent to maintain their competitive edge.”

 

Bell Works will feature a diverse range of retail options, including restaurants, coffee shops, and other services and amenities, creating a decidedly urban downtown feel across the center’s main level promenade.

 

“Retailers in search of a mixed-use destination will benefit from the critical mass of office, medical, wellness, hospitality and civic users that will populate Bell Works, as well as a new, upscale residential development that will be constructed on the property within walking distance to the center,” commented Michele Wilk, President of M. Wilk Consulting. “We believe this opportunity will be particularly appealing to cafes, restaurants and boutique stores that will both gain from, and contribute to, the center’s vibrancy.”

 

As part of the redevelopment plan for Bell Works, Somerset has signed an agreement with Community Health Associates, a healthcare consulting and real estate development firm, for the sale of up to 400,000 square feet in the building for a comprehensive medical facility to include a surgery center, doctors’ offices, assisted living and skilled nursing facilities, and other health and wellness uses.

 

Somerset Development has selected internationally recognized architecture firm, Alexander Gorlin Architects, to serve as the lead architect for the redevelopment. The firm, which specializes in a wide range of projects including historically significant, adaptive reuse developments, is overseeing the execution of programming and restoration for Bell Works’ public and common area spaces.

 

“The reinvention of such an architectural icon requires a deep sensitivity to the culture contained between its walls,” said Gorlin. “Working with Somerset Development, I’m excited to be a part of this transformation, and I’m confident that Bell Works will be a shining example of a thoughtful repurposing of such an historically iconic facility. “

 

In addition to the redevelopment of the former Bell Labs facility, the approved plan for the site allows for residential, recreational and open space uses outside the building, including the development of up to 40 single-family homes and 185 age-restricted townhomes, as well as a field house for sports. Toll Brothers, the country’s leading developer of luxury residential communities, is in contract with Somerset for the purchase of land outside the building to construct the development’s residential component.

 

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.

 

 

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.

 

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