Thursday, March 30, 2006

Bell Labs About to be Sold

The Bell Labs property in Holmdel is about to be sold. I would guess that it is probably one of the biggest privately owned pieces of property in Monmouth County. The buyer of the property does not seem to have any concrete plans as to what to build there, but I’m sure it will include residential homes eventually.

“The long-anticipated hammer may be about to fall on Lucent's sprawling Bell Laboratories Research and Development facility in Holmdel.

The 472-acre property and the 2 million-square-foot office and laboratory structure, a staple of Holmdel's landscape for more than four decades, has gone under contract with a Pennsylvania development firm, initiating a six-week due diligence process, John Skalko, a spokesman for Lucent Technologies, said on Thursday, just hours after employees were notified. “

More…

2 Comments:

Anonymous Anonymous said...

I work at this location, they have been trying to sell for over a year now. The problem has been that the building itself is really catered toward a LARGE telcom or computer based company and therefore is really not marketable as it exists now. But the 400 plus acres in Holmdel are prime real estate. It will be interesting to see how this turns out, the township needs to replace the 3 million plus dollars in real estate taxes it currently receives on the property annualy so they will have to be somewhat flexible. But from what I hear, they are extremely against the idea of residential homes so I would be shocked if that actually happens. Most likely, they will take the building down and replace with a smaller corporate park more in tune with current corporate needs. For me, my commute now quadruples in length !!!! :-(

Hey, when on earth will I be able to buy a 2500 sqft 4BR, 2 Bath in Monmouth/Ocean for a reasonable price? .......say ~500k (not a penny more!!) The prices popping up by Toll Brothers, Khovananian, Centex and other local THIEVES ARE OBSURD !!!! Who keeps buying these $700k + homes !!!!!

sincerely,
stuck in 1200sqft till the bubble bursts.

Friday, March 31, 2006 8:27:00 PM  
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