MetLife Investment Management has retained JLL to lead the repositioning of its 197-acre office campus in Bedminster as a life sciences development, according to a Tuesday announcement. Located at 900 Route 202-206 N., the former AT&T campus will now be known as Bedminster Technology Center, the first life sciences campus in the township.
The center would be part of New Jersey’s well-established cluster of leading companies that have put the state at the forefront of medical innovation.
The property consists of four interconnected buildings totaling 939,795 square feet and features a Global Network Operations Center, a heliport and 15 acres of covered and surface parking.
JLL will begin marketing the property for single or multitenant lease, sale or site redevelopment, with acreage for sale that would be tailored to next-generation companies seeking to build and own specialized space. Its team will include experts in the firm’s global Life Science and Technology Advisory and Business & Economic Incentives Practice, as well as the full platform of JLL services in finance, lease accounting, tax and transaction structuring and global capital markets, to help occupiers and investors optimize the economics of the asset.
The site has been rezoned by the township of Bedminster to accommodate up to 2 million square feet of total development targeted toward biotech research & development and advanced manufacturing uses, with some 300,000 square feet available for a conference center, hotel and amenities that could include a fitness center, restaurants or retail.
“This remarkable campus is effectively a blank canvas,” Dan Loughlin, JLL vice chairman, said. “With its current redundant infrastructure capacity and fully secured location with superior transportation options and access to a highly educated population, Bedminster Technology Center could be redeveloped with its as-of-right zoning as a technology park for the development of advanced manufacturing facilities in an expedited timeframe.”
Loughlin is leading a market team that includes Executive Vice President Charles Dillon, Executive Managing Director Matt Jackson, Managing Director Bob Ryan, General Manager Bob Stark, Vice President Ron Simoncini, Associate Vice President Matt Loughlin and a Capital Markets team led by Senior Managing Directors Jose Cruz and Jeremy Neuer.
Bedminster is located at the crossroads of two of the region’s busiest interstate highways, Interstates 287 and 78, providing access to skilled labor (some 65% of residents have a bachelor’s degree or higher) and a wide variety of housing options.
