New Jersey: Launches Corporate Campus Reuse Program
27 May, 2015
The New Jersey Business Action Center (BAC), the state’s “one-stop” shop for businesses, has launched a sweeping initiative to repurpose more than 60 vacant/underutilized corporate campuses across the state – most recently successfully marketing the former 40-acre Lucent Technologies site in Middletown (the new site of Memorial Sloan Kettering’s 285,000 square foot outpatient facility), the former Alcatel-Lucent campus in Hanover (housing Bayer Healthcare’s new 675,000 square foot East Coast headquarters and the planned global MetLife Investments headquarters), and the Bell Labs site in Holmdel.
Each site has at least 250,000 square feet of build area on 10+ acres. The BAC helps municipalities across the state think creatively about alternative uses/industries for these vacant properties, and point them toward state resources that assist with zoning and tax regulatory issues, among others.
The next top priorities for the BAC include marketing these large sites:
• Former Merck headquarters (1M sq ft.), 1 Merck Access Road, Readington (Whitehouse Station section)
• Former Motorola site, 1111 Durham Ave., South Plainfield
• Former BASF Corp. site, 450 Clark Drive, Mount Olive
Image: Stuart Miles at Free Digital Photo.net