You can debate whether employees want to return to the office. But it appears that small business owners clearly do.
The latest example of that comes at Bell Works in Holmdel, where Somerset Development announced this week that all 52 of what it is calling its “Ready to Wear” designer office suites now are 100% leased.
And there’s a waiting list for space.
The suites, which require a minimum two-year lease, are aimed at small business. They come fully furnished and fully wired. The biggest is 4,500 square feet, but almost all are in the 750-2,000-square-foot range. The 52 leased suites total just over 100,000 square feet of space.
The demand has been so strong that Bell Works announced it is putting together five more suites, ranging in size from 800 to 2,000 square feet.
Somerset Development President Ralph Zucker, the master developer of the “metroburb” project, said the leasing is another example of pent-up demand for quality space.
“Today’s milestone serves as a testament to both the ongoing magnetism of the metroburb, and the unbelievable demand from companies seeking beautiful, functional and flexible office space,” he said. “With the momentum we’re continuing to experience, it became very clear we needed to expand Bell Works New Jersey’s Ready-to-Wear footprint, and we look forward to welcoming even more businesses to our vibrant office community at Bell Works.”
Tara Keating, vice president of the Garibaldi Group, which is leasing team for Bell Works, said companies have been attracted to the turnkey nature of the suites.
“The Ready-to-Wear suites at Bell Works New Jersey make the potentially arduous process of finding a new office very, very easy,” she said. “By offering both incredibly flexible leasing terms and fully furnished, fully wired office suites, companies that are ready to get down to business need only walk through the door.”
Next up: Measuring the desire of medium-sized companies to come back to work.
Earlier this summer, Somerset Development announced its “Campus” concept at Bell Works.
Campus, which will occupy 72,000 square feet, will be designed to cater to the growing number of medium-sized businesses and enterprises looking for a flexible return-to-work solution. The offices, which also will be fully furnished and fully wired, are for medium-size companies. They are being divided into 6,500-square-foot spaces.
The Garibaldi Group already has signed leases for some tenants, who are waiting for the space to be complete before they can move in.
Somerset Development officials said they feel Campus will attract a number of different types of companies, including those 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.