Garden St. hi-tech park receives approval from Neptune Twp

Real Estate Weekly, April 18, 2001

Garden State Hi-Tech Park, LLC, a local investment group based in Neptune Township, New Jersey, received unanimous approval for final site plans from the Township Planning Board on March 28 for Phase I of a proposed 4 million- square-foot corporate and technology center, announced Ken Himsel, director of development. Located within minutes of Garden State Parkway Exits 100 and 102, Interstate 195 and Route 35, the property includes 180 vacant acres in a non-residential area of Neptune, strategically situated between State Highways 18 and 66, Neptune Boulevard and West Bangs Avenue.

In December, the Neptune Township Planning Board unanimously approved the preliminary site plans for the project. Since then, the developer has conducted extensive engineering studies in connection with the first phase, which includes two buildings of approximately 200,000 square feet each. The buildings will in corporate three levels of underground parking.

"Both buildings are proposed for four stories, and the parking structures will be built underground, taking advantage of the natural slopes and topography of this parcel," Himsel explained. "This will allow us to provide ample protected parking areas while we leave large open spaces of green acres within the campus in agreement with our original proposal."

The proposed phase sits on the east parcel of the site, with planned egress and ingress from Neptune Boulevard near Route 66. In addition, a helistop for the exclusive use of the park's tenants will be located on the east parcel of the property. "The helistop has been de signed as a positive aesthetic feature of the park. Our goal has been to minimize any impact in the immediate neighborhood while we provide a tremendous corporate amenity," stated Raymond A. Syms, an aeronautical consultant who was retained by Garden State Hi-Tech Park in connection with the helistop design and planning.

Since approval of the preliminary site plans, the developers of The Garden State Hi-Tech Park have had tremendous tenant interest in the property, according to Himsel. "We are negotiating with several companies that have large requirements and are interested in moving to the park," he said. "As a result, we have conducted extensive engineer ing studies and are proposing the first phase of two buildings to provide flexibility based on tenant requirements. The integrated development of all infrastructures, roadways, storm water management and parking areas are an integral component of the master planning that has gone into the design of this campus."

With this approval of the final site plans, the proposed schedule for construction calls for site work and groundbreaking in May.

The company also has been working on a 2,500-square-foot marketing and leasing center for the park which is expected to open in late spring. The center will feature displays of the proposed development with floor plans, elevations and renderings.

The Garden State Hi-Tech Park will eventually include up to 19 office buildings ranging from two to twelve stories, designed to attract a mix of corporate tenants within New Jersey's emerging technology economy. In addition, a 12-story, first-class hotel and conference center with 200+ rooms will be centrally-located on the property.