Site preparation slated for spring 2017; project delivery expected second quarter of 2019
JLL announced that New Brunswick Development Corp., or Devco,began site preparation on the Ferren Mall Parking Deck for The Hub @ New Brunswick Station.Devco expects site construction of its 1.7 million-square-foot mixed-use redevelopment project to commence in April 2017.
The developer’s website—http://www.thehubnewbrunswick.com — includes a view of the demolition from a several vantage points, as well as a time-lapse video of the demolition process.
JLL isDevco’s exclusive marketing agent for The Hub.The team managing the assignment includes Daniel Loughlin, managingdirector and New Jersey brokerage lead;Scott Lesh, managing director; Peter Ladas, senior vice president; and Scott Stange, vice president.
“Since we are in the early stages of development at The Hub, a prospective tenant can participate in the design and specifications of the buildings,” said Loughlin. “This is a unique branding opportunity for a company to make a statement and locate within a true live/work/play environment, clustered around an established community that includes businesses, medical institutions and higher education.”
The 1.7 million-square-foot complex is located on four acres in downtown New Brunswick directly across from the New Brunswick train station. The Hub@ New Brunswick Station will encompass multiple buildings with a flexible design to meet any office or lab requirement, including technology, office or research use. The development is slated to include high-rise residential unitsand a retail promenade at street level, as well as ample parking, technology connectivity and state-of-the art amenities.
“Decision-makers around the world are gravitating toward centers of excellence like The Hub,” said Christopher J. Paladino, president of Devco. “The Hub will become the region’s most exciting 24/7 mixed-use neighborhood, right in the heart of downtown New Brunswick. It will be New Jersey’s center for innovation and collaboration—a space where patent-pending technology is a daily occurrence.”
The Hub will embrace the modern workplace culture, incorporating breath-taking design, innovative office layouts, state-of-the-art research applications, ideal living spaces, trendy restaurants and stores and spectacular public spaces. Integrating academia, commerce and entertainment will enhance quality of life and promote further economic progress for New Brunswick.
Also known as Health Care City, the area around The Hub is home to Rutgers University, Rutgers Robert Wood Johnson Medical School, RWJ Barnabas Health’s Robert Wood Johnson University Hospital, Rutgers Biomedical Research, Rutgers Cancer Institute of New Jersey and several global pharmaceutical companies including Johnson & Johnson’s world headquarters and Bristol-Myers Squibb.
Linked directly by sky bridge access to the city’s Amtrak and NJ Transit commuter rail station, The Hub will serve as the district’s core. By introducing a series of pedestrian spaces and highlighting the strong connection to transit, the project will transformNew Brunswick into an “Innovation District” destination on Amtrak’s Northeast Corridor line.
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
