Bell Works has its latest tenant: Jersey Central Power & Light, which is moving its central New Jersey regional headquarters to the Holmdel office complex next year.
The utility, a subsidiary of FirstEnergy that serves 1.1 million people in the Garden State, said it has signed a 10-year lease for 64,000 square feet at the four-building, 2 million-square-foot former Bell Labs complex at 101 Crawfords Corner Road.
JCP&L’s lease at its current Red Bank regional headquarters expires next year. Nearly 200 engineering, billing, human resources, outage restoration and support staff, as well as management, will be moving by early summer 2017, the utility said.
“This move keeps our jobs, tax dollars and ancillary support services in Monmouth County,” Jim Fakult, JCP&L’s president, said in a prepared statement. “After reviewing multiple locations, the Bell Works site best met our needs with its proximity to our current headquarters and accessibility to the Garden State Parkway. The new location offers the modern office space needed to help our employees perform their jobs at a high level on behalf of our customers.”
JCP&L said a major part of the relocation effort is moving its central region dispatch office, including the system operators and support staff who monitor the electric system and dispatch personnel as needed in the event of a service interruption.
“New Jersey’s infrastructure and economy are powered in large part by JCP&L, and we’re thrilled that they’ve found a new home at Bell Works,” Ralph Zucker, president of Somerset Development, the project’s owner, said in a statement. “We hope this flexible, state-of-the-art workspace will provide an environment where JCP&L employees look forward to coming to work each day.”
The Garibaldi Group team of Jeff Garibaldi, Kyle Mahoney and Tara Keating represented Somerset in the transaction. The Newmark Grubb Knight Frank team of Tim Greiner, Jamie Ragucci and Brendan McBride represented JCP&L.
“It’s clear that Bell Works and Holmdel are collectively becoming one of the state’s true business hubs,” Holmdel Mayor Eric Hinds said in a statement. “This location not only provides JCP&L with central access to its customer base, but also a place where it can lay its roots among a burgeoning community of innovative companies.”
JCP&L’s overall New Jersey headquarters is in Morristown.