June marks six months since the Fort Monmouth Economic Revitalization Authority (FMERA) welcomed technology company TetherView to its new home on the third floor of the approximately 42,300-square-foot Russel Hall building in Oceanport. The private cloud computing services company has spent the last half-dozen months settling in and renovating its property. TetherView anticipates renovating the balance of the building in phases to accommodate possible tenants, which may include a technology incubator. In moving to Russel Hall, TetherView has already brought 30 jobs to the Fort and expects to create or relocate an additional 40 full-time jobs within the next two years. With renovations continuing, TetherView is currently seeking tenants for a late fall occupancy.
“Bringing jobs to the region has always been a top priority,” FMERA Executive Director Bruce Steadman said. “We are pleased to see TetherView not only choosing to locate its operations on the Fort, but also taking a vested interest in cultivating opportunities for up-and-coming technology startups in the area.”
TetherView signed a sublease for the property on December 18, 2015. Russel Hall is located on property that FMERA is set to acquire via a negotiated Phase 2 Economic Development Conveyance (EDC) Agreement with the Army. Once that occurs, TetherView will purchase the entire Russel Hall property from FMERA.
FMERA asked TetherView Chief Executive Officer Michael Abboud about his company’s experience on Fort Monmouth:
Why did you choose to relocate your company to Fort Monmouth?
Relocating to the Fort allows TetherView to offer a balanced work/life ratio allowing us to recruit and leverage the highly talented pool of people in the surrounding area. Being located inside of the historic Russel Hall and being surrounded by serene greenery and a park-like campus makes going to work every day more pleasurable.
What have you found most beneficial about relocating to Fort Monmouth?
Our new location at Russel Hall in Oceanport is central to many of our clients and it allows us to service our clients with ease. In addition, we are located in an area that is welcoming growth and redevelopment and we are excited to be a part of it.
What advice do you have to other technology companies looking to locate on the Fort?
My advice is to take advantage of what the Fort currently has to offer and what it will offer in the future. The Fort consists of a wonderful group of people working together and the support from the community has been extremely positive.
Later this year, TetherView plans to launch our incubator program which will be made available to other technology companies that offer technology that complements Tetherview’s solution.
What is the status of renovations?
We are currently finalizing renovations on the third floor and main lobby; the original brass doors on the front entrance of Russel Hall are being restored. After the restoration of the lobby is complete we plan to schedule a flag raising ceremony. Stay tuned!