Home Atl Hub News Atl Hub Business Atlantic Hub Business Briefs, July 22

Atlantic Hub Business Briefs, July 22

The Fort Monmouth Economic Revitalization Authority plans to release a key parcel through its public bidding process in the upcoming weeks. The approximately 80-
acre site, also known as Parcel B, is at Fort Monmouth’s Route 35 entrance in Eatontown.
This gateway project is slated for a medium density, mixed use project with residential and
commercial uses.

“The revised Request for Offers to Purchase for this parcel was drafted with the Fort Monmouth Reuse and Redevelopment Plan’s vision in mind,” FMERA Executive Director Bruce Steadman said.

“However, as a result of the implications of recent market shifts, specifically in retail, we expect to be more flexible on the mix of commercial uses permitted. All bidders will be required to construct 302 residential units as a part of the project,” he said.

The redevelopment of Fort Monmouth is a multi-year reinvestment to repurpose the former military installation. Prior to its closure, the fort had approximately five million square feet of building area. Most of the buildings left behind are targeted for demolition.

So far, the reuse and redevelopment has activated one million square feet of commercial space and more than 200 residential units, along with civic and entertainment uses. Twenty parcels have been sold and 16 parcels are under contract, in negotiation, or in the development pipeline. Visit www.fortmonmouthnj.com for more information.

 

Global commercial real estate services and investment management firm Colliers International has completed its previously announced acquisition of a controlling interest in Maser Consulting P.A., a multi-discipline engineering design and consulting firm.

Headquartered in Red Bank with more than 1,000 professionals operating from 34 offices
across 12 states, Maser provides design engineering and consulting services to multiple end markets including site civil, survey/geospatial, geo-environmental, transportation, infrastructure, water and wastewater, telecommunication and energy. The company generated 2019 revenue of $167 million.

Maser’s senior leadership will remain significant shareholders of the business under Colliers’ partnership model. The business will be rebranded as Colliers Engineering Services by the first quarter of 2021.

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