The state authority guiding the redevelopment of Fort Monmouth has picked a master broker to help it market, sell and lease the 1,100-acre property, the agency said today
The board of the Fort Monmouth Economic Revitalization Authority said it tapped Cushman & Wakefield for the job, calling it an "essential step" in the effort to repopulate the former U.S. Army base. The firm's East Rutherford operations will be tasked with increasing awareness of the fort's offerings to help stimulate investment and job creation.
Fort Monmouth, which includes portions of Eatontown, Oceanport and Tinton Falls, closed last year after more than 90 years in operation. But the authority has moved quickly since its creation nearly two years ago. The board already has secured deals to sell or lease several pieces of the property, and on May 17, the authority signed an agreement with the Army to dictate how the property would be transferred to the state.
Cushman & Wakefield was chosen as a result of a request for proposals issued in mid-April. The board also chose Jones Lang LaSalle as an alternate broker in the event of a conflict of interest.
"With these qualified firms on our team, we are now in a better position to advance FMERA's mission and create an atmosphere in which employers will employ and investors will invest, to maximize the jobs created and the value of the property," FMERA board Chairman James V. Gorman said in a prepared statement.