1.5M SF Cedarbridge Corporate Campus planned. (New Jersey).
The 1.5 million-SF campus has been planned to include corporate offices, research and development facilities, computer service centers, telecommunications centers and high-technology operations. In addition, restaurants, banking and other support facilities are integrated into the design.
For Lakewood, it is estimated that the development will mean $200 to $300 million in new tax ratables at its build-out, with income for the township projected as early as 2003 when the first buildings are expected to be occupied. The development also projects 7,000 to 10,000 new, permanent jobs. Ultimately, the corporate park will produce a daytime population that could fuel the local economy, with new consumers patronizing the Township's many growing service businesses and retailers.
Driving through the area, the aesthetic considerations of the business community become apparent with 160 acres of pristine woodlands that will be left in their natural state. At the same time, this beautiful 185-acre suburban business campus will be complemented by landscaped entryways, lawns and gardens, tree-lined boulevard streets, architecturally striking buildings, seating areas and walkways that provide public access through the property. Cedarbridge Development Corporation is committed to this vision.
The company has funded the preliminary phases of the project, investing more than $1 million so far. Completed to date are preliminary analysis and preparation of all development and marketing activities ranging from environmental assessments to conceptual and architectural designs. Phase II is taking the campus through the approval process, while marketing activities continue.
In addition, Cedarbridge has assembled a board and development team consisting of real estate professionals, investment bankers, and corporate leaders who are dedicated to the project's success. For example, Picus Associates, Inc. is serving as project manager. This respected Princeton organization conceived and developed the multi-use Forrestal Center for Princeton University, which is occupied by more than 100 corporations employing some 14,000 people.
Similarly, Cushman & Wakefield of New Jersey, the largest fully integrated real estate services firm in the world, is serving as the exclusive marketing and leasing company for the property. "This is one of the most exciting projects taking shape in all of New Jersey," noted Joe Sarno, senior director of Cushman & Wakefield. "We have active interest from corporations who are watching our progress closely as they make their real estate plans for the coming years."
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|Title Annotation:||business park planned for Lakewood, New Jersey|
|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Jan 16, 2002|
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