FMERA Extends Contract with Cushman & Wakefield
As Fort Monmouth’s master broker Cushman & Wakefield (C&W) completes its initial three-year contract, the Fort Monmouth Economic Revitalization Authority (FMERA) is formally extending its engagement with the company an additional year.
Since 2012, the commercial real estate services firm has been tasked with marketing, selling and leasing property on Fort Monmouth with the goal of stimulating investment and creating jobs. C&W’s carefully orchestrated efforts to raise awareness of opportunities at the Fort have included reaching out to thousands of real estate developers, investors and employers to promote properties and set up presentations and tours. FMERA and C&W conduct, on average, a half-dozen tours per week.
C&W continues to update its marketing materials and create new flyers for the parcels currently out for proposals. These flyers are distributed by C&W to real estate brokers and prospects through email blasts, with a new message or property featured weekly.
“Since Cushman & Wakefield has been the Fort’s broker, the company’s extensive marketing efforts have led businesses of all sizes to consider opportunities at the Fort,” said FMERA Director of Real Estate Development Dave Nuse. “We look forward to more exciting possibilities in the coming year.”
C&W’s extensive marketing efforts have helped to attract businesses such as RPM Development and Pinebrook Commerce Center, LLC (PCC) to the Fort. Last month the FMERA Board approved a Purchase and Sale & Redevelopment Agreement (PSARA) with RPM to bring residential redevelopment to the former Officer Housing in Oceanport. In April, a PSARA between FMERA and PCC was approved by the Board for the sale of the Pinebrook Road Commerce Center (more commonly referred to as the Fabrication Shops) in the Tinton Falls section of the Fort.
FMERA and C&W have outlined initiatives and goals for the upcoming year, beginning with updated marketing signage and quarterly reporting of activities and results. C&W’s goals include identifying prospects for a high-value use of Parcel F-1 (the Myer Center property) in Tinton Falls, and launching expanded industry marketing focused on the McAfee Center as the hub of a potential tech park.
As the broker assigned to the Fort, C&W Senior Director Les Smith, III plays an integral role in the day-to-day marketing of the Fort, coordinating tours and attracting developers to consider Fort Monmouth for business, residential and commercial endeavors.
“Fueled by Les’s tireless efforts, Cushman & Wakefield continues to showcase the broad variety of redevelopment opportunities at Fort Monmouth,” FMERA Executive Director Bruce Steadman said.