JLL tapped to lead repositioning of former AT&T campus in Bedminster, New Jersey

BEDMINSTER, N.J., May 13, 2024 – JLL announced today that it has been retained by MetLife Investment Management to lead the repositioning of its 197-acre office campus at 900 Rt. 202-206 North in Bedminster, New Jersey, which will now be known as Bedminster Technology Center.

The former home of telecom giant AT&T and long known as One AT&T Way, the property consists of four interconnected buildings totalling 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 multi-tenant 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 two-million-square-feet of total development targeted toward biotech R&D 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,” said Dan Loughlin, JLL Vice Chairman, who 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.

Loughlin added, “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.”

Bedminster is located at the crossroads of two of the region’s busiest interstate highways, I-287 and I-78, providing access to skilled labor (some 65% of residents have a bachelor’s degree or higher) and a wide variety of housing options.

Bedminster Technology Center presents an opportunity to create the first life sciences development in Bedminster and become part of New Jersey’s well-established cluster of leading companies that have put the state at the forefront of medical innovation.

According to JLL, demand for specialty manufacturing facilities and lab space in the region remains strong. In its Q4 2023 Life Science Market Insight, the firm noted that more than 20% of leases signed in the state during the quarter involved pharma and/or life science companies.

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