Bell Works New Jersey announced four lease transactions recently, including three new office leases and a renewal and expansion with a current tenant.
Somerset Development, the creator of the “metroburb” on the former Bell Laboratories site in Holmdel, said Spirent Communications has expanded its footprint to about 35,000 square feet. The British communications company is combining its New Jersey operations into a tri-state regional headquarters at Bell Works, and will now have about 135 employees on site, including lab and research operations.
“We’ve all experienced challenging times and obstacles over the past several months, but we’ve remained steadfast in our commitment to the well-being of the entire Bell Works community,” Somerset Development President Ralph Zucker said in a prepared statement. “Bell Works’ ability to continue to attract new businesses, coupled with the trust we’ve established with existing tenants such as Spirent, is a testament to the value of what we’ve created at the metroburb.”
In addition, Holmdel-based Somerset Development said it agreed to leases with Integra Advisors, an executive search firm, for 1,436 square feet; Monmouth Capital Management, a financial management firm, for 1,203 square feet; and Liberty Elevator, an independent elevator company, for 1,123 square feet.
“We look forward to welcoming new faces at Bell Works as we continue the process of reopening in a deliberate and responsible way,” Zucker said.
The Garibaldi Group represented Somerset Development in each of the transactions, with a team including Jeff Garibaldi, president; Tara Keating, vice president; and Lindsey Florio, broker support analyst.
“Bell Works provides a truly unique office environment and dynamic that continues to attract new tenants from throughout the region, even in this challenging time,” Garibaldi said in a statement. “Businesses are drawn to the diverse mix of retail, entertainment and event programming, along with its top-notch management team, who worked tirelessly throughout the pandemic to maintain a level of comfort and quality for its tenants.”
Cresa Global’s James Scancarella and Michael Hetchkop represented Spirent.