Real Estate and Development
The NJEDA plays an important role in implementing major real estate development projects for established companies and governmental or not-for-profit organizations throughout New Jersey. In fact, since 1979, we’ve developed over 10 million square feet of new and renovated space valued at more than $1.5 billion. So if you’re a company needing facilities for research, manufacturing, or distribution; a developer of a project in one of these three sectors, or any commercial project in an urban location; or a public or not-for-profit entity requiring new or renovated facilities, the NJEDA can help turn your plans into reality.
New Jersey has always been one of the premier research areas in the United States and is home to many of the world’s largest pharmaceutical companies. The NJEDA has developed and continues to implement special economic development initiatives in urban aid municipalities and targeted industries, including technology and life sciences. And, in an effort to stimulate the expansion of these industries, New Jersey has created three Innovation Zones or “technology neighborhoods” where academic and research institutions can work with companies to develop and market new products or services while enjoying certain financial incentives and other benefits. The NJEDA’s goal is to anchor each of the zones with a state-of-the-art technology center, offering companies opportunities to lease office, wet and dry laboratory and production space at attractive rents.
With our full array of tools, ranging from site solutions to project financing and full-service real estate development, we can help implement real estate projects that advance the State’s economic development objectives. The NJEDA’s goal isn’t to compete with private developers. Instead, we look for opportunities to collaborate with the private sector and to trail-blaze locations and sectors in need of private investment.Service, capabilities, & site solutions
NJ State Office Building Projects
In partnership with the New Jersey Department of the Treasury, Division of Property Management and Construction (DPMC), the New Jersey Economic Development Authority (NJEDA) is constructing the new Taxation and Department of Health buildings with two new buildings in downtown Trenton.
Construction has begun on the new Department of Health Building at 55 Willow Street, between West Hanover St. and Capitol St. Construction of the new Taxation Building has begun, just in front of the NJ Department of Labor and Workforce Development Building at 3 John Fitch Way.
Located in the heart of New Jersey’s “Research Corridor” the 50-acre research park is designed to meet the research, manufacturing and office needs of entrepreneurial startups, to emerging research companies, large established corporations in the bioscience and pharmaceutical industries.
The New Jersey Bioscience Center is home to the Incubator and Step-Out Labs of North Brunswick and consists of almost 300,000 S.F. of lab and office space with over $70 million invested in facilities and improvements including a shared conference facility.
The New Jersey Wind port
The New Jersey Wind Port is a purpose-built 200+ acre development project that is positioning New Jersey as a
hub for the US offshore wind industry.
The port offers an unrivaled combination of:
At full build-out, the New Jersey Wind Port will support up to 1,500 manufacturing, assembly, and operations jobs. Construction,
which is targeted to start in 2021, will create hundreds of additional union jobs.
Service, capabilities and Site Solutions
The location of an office building, university complex, performing arts facility, etc. can be vital, not only to the project’s success, but also to its impact on a community. The NJEDA’s assistance in land acquisition has been essential to the advancement of many urban projects throughout the State. We can help assemble property for public purposes and for certain economic development projects where the need to gain site control at a specific location is critical to a project’s implementation.
Development and Construction
In addition to its land acquisition capabilities, the NJEDA is unique among public agencies in New Jersey because it has the ability to design, finance, construct, and manage projects for public and private-sector clients, either for lease or on a build to suit basis. Projects developed by the NJEDA can enjoy favorable tax and regulatory treatment, as well as attractive occupancy costs.
Typically, projects must fall into one of these categories:
- Urban commercial development
- Technology and life sciences, especially those located in the Newark, Camden and Greater New Brunswick Innovation Zones
- Projects that create, attract or retain high-wage jobs in high-growth sectors of the State’s economy
- Projects undertaken for public or not-for-profit sector clients
If you need help finding a property that suits your facility needs, our Site Solutions Department can assist you with your search. We can make it convenient, attractive, and affordable for you to do business in New Jersey by:
- Partnering with local communities to encourage the redevelopment of selected, idle sites and the growth of key industries in the State;
- Advancing portfields, brownfields and other similar initiatives to develop underutilized or environmentally unsound sites for large-scale, commercial and mixed-use projects;
- Working closely with companies of all sizes to help control design and construction costs;
- Handling property management services so you have more time for running your business;
- Providing critical assistance in land acquisition, particularly those in urban areas where available financial incentives make the right property affordable for you;
- Spearheading development and construction projects, especially those that create, attract, or retain high wage jobs in high-growth sectors of the State’s economy, for public or not-for-profit sector clients;
- Offering marketing guidance, networking opportunities, and referrals.
REAL ESTATE PROCUREMENT Opportunties
Below please find a list of Real Estate procurement opportunities currently being offered by the New Jersey Economic Development Authority. Please see the listing below for the opportunity that is of interest to you: