Denholtz Properties to Redevelop 25 Acres in Oceanport for High-Tech, Class-A Office, and Other Supporting Uses
In December of 2017, the Fort Monmouth Economic Revitalization Authority’s (FMERA’s) Board approved the issuance of Requests for Offers to Purchase (RFOTPs) for three individual parcels known as the Commissary & PX Complex, the Warehouse District, and the Post Office Area, as well as an option to bid on a large parking area. As of FMERA’s November 2019 Board meeting, OPort Partners, led by Steve Denholtz, has been selected to redevelop all three parcels and the adjacent parking area.
With the exception of the Commissary, constructed in 1997, all the existing improvements on the property are slated for demolition. The Denholtz team proposes to develop the site with Class-A office space, flex space, and other complementary uses that will attract technology, research & development, and other job-generating industries that will further the Fort’s mission to bring back jobs and revitalize the local economy.
The redevelopment of this complex will serve as a vital component of the Fort’s technology and innovation district, joining the planned, future McAfee Innovation Campus, New Jersey City University’s satellite campus, and nearby cloud-based solutions company, TetherView. On the western side of the Fort, home of AASKI Technology and Commvault’s world-headquarters, technology and engineering continue to thrive.
OPort Partners will make a capital investment of approximately $54.4 million and is targeting the creation of nearly 750 jobs.