Bell Works hits 95% leased

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Bell Works in Holmdel reached 95% leased with the signing of more than a dozen new office agreements.

Covering 74,474 square feet across six new tenant agreements and nine renewals, the metroburb announced the milestone Feb. 15.

Included among the new tenants are law firm Florio Perrucci and tech company Vydia, while Cisco re-signed for more than 48,000 square feet of space.

“If 2022 has shown us anything, it’s that companies are committed to the post-pandemic ‘office of the future’,” Ralph Zucker, president of Inspired by Somerset Development, the developer behind Bell Works New Jersey, said in a statement. “Key decision-makers at businesses ranging from large enterprises to startups are seeking highly amenitized, and purposefully designed spaces that cater to their evolving needs.”

Bell Works’ 2 million square feet includes retail, food and beverage, and entertainment-based offerings, in addition to a variety of office options.

The agreements cover traditional office space in addition to the property’s pre-built, Ready-To-Wear designer office suites. According to Zucker, “Our Ready-To-Wear spaces are designed with the priorities of modern companies in mind with both short- and long-term leases.”

All of the property’s new office tenants signed on for the RTW space:

• Florio Perrucci – 1,005 square feet – full-service law firm with offices throughout New Jersey, Pennsylvania and New York
• Sia Partners – 1,122 square feet – next-generation management consulting firm and pioneer of Consulting 4.0
• Docupace – 3,292 square feet – a leading digital operations technology provider that simplifies how wealth management firms process and digitize key business functions
• Data Pros – 1,189 square feet – Microsoft Managed Service Provider helping small businesses adopt cloud technologies
• Goldstone Realty – 1,656 square feet – modern real estate company servicing clients in residential and commercial real estate
• Vydia – an additional 2,887 square feet – end-to-end music technology platform and services company

Renewing tenants include:

• Quest Group – 520 square feet, RTW space – executive search solutions firm
• Prospect Capital Restaurants LLC – 1,580 square feet, RTW space – “fastest growing” restaurant investment group in New Jersey, with 60-plus locations, more than 1000 team members, and over 10,000 customers served daily
• Two River Technologies Group LLC – 1,483 square feet, RTW space – IT support firm focusing on helping businesses save time and money on IT services
• Smith Eibeler LLC – 1,478 square feet, RTW space – law firm that fights for New Jersey employees’ right to a discrimination free workplace
• Comcast (EffectTV) – 6,098 square feet, traditional space – advertising sales division of Comcast Cable that helps local, regional and national advertisers grow their businesses
• Garmany of Red Bank – 1,254 square feet, RTW space – corporate office location for the refined clothing store offering designer brands, shoes and accessories for men and women
• Cisco – 48,888 square feet, traditional space – worldwide digital communications tech company
• Bridge Technology Partners – 478 square feet, RTW space – information technology services company specializing in talent acquisition for both consulting and employment initiatives
• The DiGregorio Group – 1,544 square feet, RTW space – financial advisory practice of Ameriprise Financial Services LLC

Chatham-based The Garibaldi Group represented Bell Works New Jersey in all office transactions with a team including President Jeff Garibaldi, Vice President Tara Keating and Broker Support Analyst Lindsey Florio. Bell Works Creative Director Paola Zamudio, and her team at NPZ studio+, curated the interior design for the RTW workspaces.

In a separate announcement, Colliers Engineering & Design recently said it relocated its corporate headquarters in Red Bank, space its occupied for nearly two decades, to Bell Works. According to the multi-discipline engineering and architecture, consulting and design firm, growing into the new space follows the company’s strategic plan to continue expanding. According to Executive Vice President and CAO Leonardo Ponzio, Colliers E&D has grown from 50 to more than 300 employees at its Red Bank location since taking up residence there.

“This world-class office space better accommodates our staff in an expanded, collaborative environment, with more meeting and presentation space, and upgraded technology at their disposal,” said Kevin Haney, president and CEO of Colliers Engineering & Design. “We’re very excited to be moving into this premier environment.”

Looking back

Bell Works has also gained momentum at its coworking membership experience, CoLab. In 2022, all 66 private offices were leased, as were 66 of its 68 dedicated desks. Currently, 140 active companies use the space, representing more than 400 people. CoLab’s private office waitlist, Bell Works said, had 110 individuals on it as of Dec. 31.

“Even after we expanded CoLab in 2020 to nearly six times the size of our original space, it hasn’t been enough to keep up with the growing demand for our expertly designed, turnkey spaces,” said CoLab Managing Director Sean Donohue. “As interest continues to rise in 2023, we’ll be identifying new ways to meet those demands and we’re excited for what’s in store.”

Two new retail tenants also came on board in Holmdel in 2022 and one current occupier expanded, according to Bell Works. That roster includes:

• Floafers – 800 square feet, new – designer, marketer and producer of innovative foam footwear for men, women, and children
• Enchanted Blossoms – 886 square feet, new – local family-run, sustainable flower shop
• Fitness Factory Health Clubs – 2,071 square feet, added – rapidly growing brand of high-end health and wellness clubs across New York and New Jersey

Sabre Vice President Sean Pyle and President Justin Korinis represented Bell Works New Jersey in all retail transactions.

Looking ahead, Zucker said Bell Works’ model should continue to benefit from evolving work scenarios and due to the quality, expansive and inclusive nature of the space.

“Whether it’s a result of Bell Works’ singular energy, idyllic setting, or diverse roster of both office and retail tenants, people are placing their bets on the metroburb and we cannot build these spaces fast enough,” he said. “We anticipate this momentum will only grow stronger throughout 2023.”