Fort Monmouth puts out revised call for its mixed-use Mega Parcel

The Fort Monmouth Economic Revitalization Authority re-issued a Request for Offers to Purchase what’s known as the Mega Parcel: an approximately 292-acre site situated in Eatontown and Oceanport on Fort Monmouth’s Main Post.

Increasing the site’s size from 289 acres to just over 292 acres, the boundary of the site was expanded, FMERA said, to incorporate what was formerly known as the Bowling Center. Responses for the RFOTP are due by 12 p.m. on June 6.

Last April, Rumson-based Parker Creek Partners purchased the Bowling Center with the intent to renovate it and reopen as a bowling alley and entertainment space. According to the Asbury Park Press, Parker Creek sold the Bowling Center back to FMERA in December 2021 for $1, and the state organization released the purchaser from its redevelopment plants. The Mega Parcel’s initial RFOTP was issued in October 2021.

The Main Post is home to former residential, administrative, research and development buildings, warehouses, workshops and additional general-purpose facilities, according to FMERA, an independent State authority established to oversee redevelopment of the site and the implementation of Fort Monmouth’s Reuse Plan.

The RFOTP is set up to position the Mega Parcel to function as a regional hub for one or more of the high-wage, high-growth sectors identified by Gov. Phil Murphy in his “The State of Innovation: Building a Stronger and Fairer Economy in New Jersey” economic plan. Those include, but are not exclusive to, life sciences, information and high technology, clean energy, food and beverage, and film and digital media.

Examples highlighted by FMERA include arts and cultural centers, film production studios, R&D facilities, or a high-tech facility featuring incubator space.

The Mega Parcel’s redevelopment will be subject to the base’s Reuse Plan, as well as FMERA’s land use regulations and design and development guidelines.

The Fort featured 5 million square feet of building area, 70% of which is targeted for demolition, according to FMERA. So far, about 86% of its 1,126 acres have been sold, or are under contract, in negotiations, or entering the request for proposals process.

FMERA has sold 31 parcels, to date, with another six under contract or with board-approved contracts.

Last fall, Somerset Development purchased 15 acres at the site for $15.3 million and Barker Circle Partnership snatched up 20 acres for $4.85 million.