BDP Holdings LLC, a Montclair-based real estate investment company, together with JLL on Friday announced the launch of the Iris, a new, ground-up 130,000-square-foot office development in Montclair.
Located at 641 Bloomfield Ave., the development will meet demand from leading companies seeking Class A office space situated in vibrant, well-connected suburban downtowns. Designed by preeminent architectural, design and consulting services firm Gensler, The Iris will feature 124,000 square feet of office space across the top three floors, 8,000 square feet of ground-floor with mezzanine retail and parking for 277 vehicles.
The property’s location in Montclair’s lively downtown will provide tenants with access to diverse restaurants and cafes, trendy boutiques and art galleries. The town’s six train stations and proximity to the Garden State Parkway and major highways offer an abundance of commuter options to Manhattan, Hoboken and Jersey City, while Newark Liberty International Airport, one of the largest airports in the country, is a short drive away.
“We are thrilled to announce the launch of the Iris as we continue to work with the township of Montclair to meet its smart growth redevelopment goals,” David Placek, managing partner of BDP Holdings LLC, said. “We have worked with numerous stakeholders throughout the community, and we know there is tremendous demand for new office space in Montclair. The Iris will offer superior commercial space to the downtown while bringing new patrons to local businesses and strengthening the town’s tax base to benefit the entire community.”
BDP Holdings has retained a JLL team led by Executive Managing Director Tim Greiner, Managing Director Tom Stanton and Vice President Chris Masi to market the property.
“There is strong tenant interest in walkable amenity-rich downtowns with convenient public transportation and abundant retail options; however, there is limited new development available on the market. The Iris is ideally suited for a company seeking headquarters space that can be built to suit their requirements and we are excited to introduce the property to the market,” Stanton said.
The developer anticipates vertical construction could start within 18 months of site plan approval.
