The Garibaldi Group Archives

Bell Works signs 11 office leases (updated)

Holmdel metroburb Bell Works is expanding its roster with nearly a dozen new and renewed office leases signed for the 2 million-square-foot campus.

Inspired by Somerset Development, the developer behind the property that offers ways to work, play, dine, shop and entertain, announced the leasing milestone Nov. 28.

“When prospective tenants investigate the competitive market, they are quick to find that there is no other building that provides the array of amenities, services, and entertainment that Bell Works provides,” said Jeff Garibaldi, president of Chatham-based The Garibaldi Group, in a statement. “It’s an inspiring ecosystem that motivates employees to come to work, which is top priority for employers today.”

Garibaldi represented Bell Works New Jersey in all the lease transactions, along with Vice President Tara Keating and Broker Support Analyst Lindsey Florio.

“We’re very excited to welcome these new companies and have them contribute to the unique and dynamic energy here at the metroburb,” said Ralph Zucker, president of Inspired. “These new agreements are a testament to the lasting demand for physical office space, and these [companies’] belief in our one-of-a-kind commercial destination can help them not only attract and retain employees, but allow their businesses to continue to grow and thrive.”

The newly signed agreements at Bell Works are:

HBK, a multidisciplinary financial services firm that offers a range of tax, accounting, audit, business advisory, valuation, financial planning, wealth management and support services, leased 18,863 square feet.

Multi-brand IT solutions provider CDW, which serves business, government, education and health care customers in the U.S., the U.K. and Canada, leased 11,544 square feet.

Property and casualty insurance company Homesite, serving individuals, families and businesses, leased 4,338 square feet.

Family-owned energy consulting group Green State Energy leased 4,310 square feet at Bell Works. The company collaborates with small and large solar installers in more than 25 American states.

3D Contracting, a full-service contracting company, leased 1,636 square feet.

Specializing in blockchain technology for digital banks, Optherium Labs, which also offers IT consulting and integration services to banks, enterprises and governments, leased 1,443 square feet.

Renewals at the metroburb include:

Mettel, a provider of integrated voice, data, network, cloud and mobility IT solutions for businesses and government agencies nationwide, subleased additional square footage making for a total of 13,239 square feet.

Independent financial planning and investment management services advisor BroadFront Capital Management expanded its lease to 1,998 square feet.

Human resource provider and staffing firm Adecco, which is focused on temporary staffing, permanent job placement, outsourcing, temp-to-hire, recruiting, career transition services, vendor management, and payroll, renewed its lease of 1,997 square feet.

Boutique firm Robertson Stephens Renewal, which offers a suite of wealth management solutions, renewed its lease for 1,374 square feet.

Renewing its lease of 1,341 square feet and run by counselor Mayya Fleyshmakher, Mayya’s Therapy is a professional psychotherapy practice for children, adolescents and adults offers accessible, solution-based and engaging therapy services to young clients.

Editor’s note: This story was updated at 2:11 p.m. EDT Dec. 2, 2022, to update the square footage for Mettel’s renewal.

ICYMI

Garibaldi Group tapped to lease Mount Kemble property in Morristown

The Garibaldi Group was tapped by Vision Properties and The Birch Group to handle office leasing at 350 Mount Kemble Ave. in Morristown. — 350 Mount Kemble Ave.

The Garibaldi Group was tapped by Vision Properties and The Birch Group to handle office leasing at 360 Mount Kemble Ave. in Morristown. — 360 Mount Kemble Ave. – THE GARIBALDI GROUP

According to The Garibaldi Group, a new leasing assignment in Morristown also solidifies its partnership with the team that owns the buildings.

CEO Jeff Garibaldi Sr., Directors Jackie Madden and Brian Cass, and Associate Broker Bojan Nastoski will oversee leasing at 350 & 360 Mount Kemble Ave. for joint venture partners Vision Properties and The Birch Group, TGG announced June 27.

Garibaldi also serves as exclusive leasing broker for the partnership’s 180 Park Ave. property in Florham Park at the former The Green at Florham Park campus.

The Class A office buildings on Mount Kemple Avenue offer a total of nearly 230,000 square feet of space and were built in 2001, according to Garibaldi. Since they were acquired by Vision Properties and The Birch Group in 2018, 350 & 360 Mount Kemble Ave. have both seen significant improvements, with a promise from the JV to continue the efforts for the next three years and beyond, TGG said.

350 & 360 Mount Kemble Ave. is currently more than 80% leased to tenants including: Coughlin Duffy LLP, Avaya, NFTP and Grünenthal USA.

The buildings are now Wired Certified Silver and feature an expanded, full-service café; renovated lobbies; an updated fitness center; an onsite conferencing center and 24-hour secure access. Outside, the fully landscaped campus features walking paths, a man-made pond, covered parking with solar panels, and covered outdoor collaboration space and gathering areas.

“This ownership group sets itself apart by its understanding of the tenant experience,” Madden said in a statement. “Perhaps even more important, they understand ‘the moment’ we are in, especially from the tenant’s perspective, and they make it clear they are ready and willing to accommodate whatever future needs may arise.”

That moment is the learning and experimentation phase surrounding what a return-to-work looks like in both the short- and the long-term for employers. A location like 350 & 360 Mount Kemble Ave. offers the best of both worlds, according to TGG: less than a mile from downtown Morristown and its city life, in addition to offering nearby access to a train station with one-seat rides to Manhattan.

It’s also commutable, with access to Interstates 78 and 80 along with Routes 24 and 202/206.

“This team of Birch and Vision Properties have a keen instinct when it comes to understanding the market and knowing when they have an opportunity to differentiate itself from the pack,” Garibaldi said. “They are excellent at identifying value in an asset, and then breakdown that value to identify the distinct qualities of the asset and further activate those qualities to help make it stand out even more among competition, plus they are a pleasure to work with.”

Pharma company buys Basking Ridge complex for $4.6M

170 Mt. Airy Road, Basking Ridge. – THE KISLAK CO. INC.

Looking for a larger footprint in a convenient location, Aucta Pharmaceuticals Inc. acquired a five-building corporate complex located in Basking Ridge, providing nearly immediate access to Interstate 287 and within 2 miles of downtown Bernardsville.

Kislak Commercial Real Estate Services Inc. Executive Vice President Peter Wisniewski represented the buyer in the $4.6 million transaction for 170 Mount Airy Road, while The Garibaldi Group facilitated the deal from the owner’s side. The seller of the 52,068-square-foot property, according to Garibaldi, is a wholly owned company of McElroy Deutsch law firm.

Garibaldi’s Brian Cass and Peter Blanchard marketed the property on behalf of McElroy Deutsch throughout the pandemic, generating considerable interest from a range of potential buyers, including residential and industrial developers, colleges, hospitals, lab users and more. Lucille Karp, McElroy Deutsch’s general counsel, represented the seller in the transaction.

Brian Cass, director, brokerage services, Garibaldi Group. — Cass

“Given a true lack of fully vacant buildings that users can purchase versus lease in this particular size range, this asset drew interest from an incredibly wide array of buyers,” said Cass. “We are thrilled to have completed this transaction on behalf of a long-time client of the firm.”

For Kislak, the deal marks the second Wisniewski has completed with Aucta in the past two years.

Peter Wisniewski, executive vice president, Kislak Commercial Real Estate Services Inc. — Wisniewski

“Aucta is an innovative, growing pharmaceutical company in New Jersey that understands the demand for better quality and research to deliver the best products available to those that need them,” he said in a statement.

Situated on 8.39 acres and built in 1970, the one- and two-story brick buildings at 170 Mount Airy Road are interconnected. Parking for 190 cars is available and the property offers top-notch landscaping in addition to walking trails and gardens.

According to Kislak, the property was vacant at the time of sale. The firm said that after Aucta sets up at the site, it may offer available space to other lab or office companies looking to expand in the market.

Aucta, with locations in Piscatway and China, is a technology-based company focused on the development and commercialization of branded specialty products.

Basking Ridge serves as a base for some other big-name companies, among them Verizon Wireless, Collabera, Lawyer.com and Barnes & Noble College Booksellers.

Somerset Development announces Bell Works’ new flexible workspace: Campus

Somerset Development on July 26 announced plans for Campus at Bell Works New Jersey, its flexible workspace solution.

Campus will occupy 72,000 square feet at the Holmdel metroburb, catering to the growing number of medium-sized businesses and enterprises in search of flexible, termed leasing solutions as teams return to the office. Workspaces will be fully furnished and fully wired, and offer businesses the ability to lease both small and large footprints, depending on the needs of their teams.

said Ralph Zucker, president of Somerset Development. “For those businesses asking themselves ‘what do we do now?’ Campus presents a workspace solution allowing them to maintain flexibility with both their office footprint and their workforce as the business continues to evolve." — Zucker

“Over the next several months, many businesses will be faced with challenging decisions on how they can provide their employees with opportunities to return to the office while the realities of a post-pandemic world unfold in real-time,” said Ralph Zucker, president of Somerset Development. “For those businesses asking themselves ‘what do we do now?’ Campus presents a workspace solution allowing them to maintain flexibility with both their office footprint and their workforce as the business continues to evolve.”

Campus is likely to attract companies that are pursuing a “hub-and-spoke model” – through which businesses maintain satellite offices surrounding their main headquarters locations – along with those that are introducing hybrid systems for working remotely and in person.

The workspaces at Campus provide the option for teams to maintain a physical location amid a thriving community, with seamless access to break-out rooms, conferencing facilities, and the host of retail and dining options on The Block at Bell Works. Campus tenants will also gain access to the various health and wellness options on The Block, including Bell Health, the Metroburb’s recently opened state-of-the-art medical complex featuring a mix of physicians and health care providers.

Set to open in the fourth quarter of 2021, Campus adds to the diverse array of workspace options at Bell Works, which range from customized, long-term private offices to pre-furnished, “ready-to-wear” suites to the newly expanded coLab at Bell Works — the metroburb’s coworking membership experience. The self-operated space offers shared and individual desks, dedicated solo offices and team suites through membership subscriptions.

Campus offers flexible workspace at Bell Works in Holmdel. – SOMERSET DEVELOPMENT

“Campus is part of our ongoing vision to offer high quality, beautifully designed workspaces for every potential need that companies might have,” said Tara Keating, vice president of The Garibaldi Group, Bell Works’ exclusive office leasing team. “It offers a solution for companies that are facing post-pandemic uncertainties, but still value a physical office that promotes collaboration and keeps employees happy.”

G3 Architects and Bell Works’ Creative Director Paola Zamudio, and her team at NPZ Style & Décor, collaborated on the design for the new workspaces. Campus’s interior design elements will reflect the focus on a human-centric approach applied to every environment at Bell Works. Workspaces at Campus will also feature unique, sustainable and biophilic elements, including renewable selections, repurposed materials, the use of LED and natural lighting, and indoor plants.

Campus Bell Works maintains increased safety measures in response to the COVID-19 crisis, including extra cleaning crew support for more frequent sanitization of the space, upgraded air filtration and fresh air intake, touchless technology throughout and increased spacing between each of the workspaces. These measures support its “Stop the Spread” initiative, which includes following Bell Works’ “house rules” to help promote social distancing and more, while still maintaining a collaborative environment.

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