The Pinnacle Redevelopment Site New Street, New Brunswick, New Jersey Mark S. Calabro Senior Vice President Direct: (973) 490-8206 mcalabro@weichertcommercial.com Weichert Commercial Brokerage, Inc. 225 Littleton Road Morris Plains, New Jersey 07950 www.weichertcommercial.com James Sousa Senior Vice President Direct: (973) 898-8684 jsousa@weichertcommercial.com
The Pinnacle encompasses over 3 acres of land in the middle of the 5.2 +/- acre New Redmond Redevelopment Area. Development potential for this area is designed to be transitional with the higher density concentrated along New Street, Bayard Street and the railroad, while reducing the intensity of development along Redmond Street. Concept plans have been created to show possible scenarios for both residential, high rise office buildings and mixed use developments. The potential is excellent for Corporate Headquarters or a large space single tenant seeking a presence in a well located growing city with much to offer. (Walking distance to Northeast corridor rail system, Robert Wood Johnson University Hospital, Rutgers University, UMDNJ.) Dynamic Solutions Executive Summary Accessibility: Land: Buildable: New Jersey Turnpike: 2.5 miles Interstate 287: 5.5 miles US Route 1: 2 miles Newark Liberty Int l Airport: 25 miles New York City: 35 miles Philadelphia: 60 miles +/- 3.16 Acres (137,649.60 SF) +/- 1.8 Million SF, up to 310 Ft High Zoning: Mixed use / Residential / Medical/ Professional Office Click Here For More Information: New Redmond Redevelopment Area Incentives: Economic Opportunity Act and Urban Enterprise Zone
New Brunswick, New Jersey is an energetic city of over 55,000 residents, a number that triples during the business day with college students, business people, hospital and healthcare workers and visitors. It is a community rich with diversity, from the neighborhoods, to the bustling downtown, to the innovative arts center. In the mid 1970 s, New Brunswick began the process of revitalizing the city center and redeveloping neighborhoods. Since then, numerous successful redevelopment projects have occurred including: the world headquarters of Johnson & Johnson, Robert Wood Johnson Wellness Center, Heldrich Hotel and the Gateway Tower, the city s tallest building consisting of residential and premier retail. New Brunswick is the county seat of Middlesex and the home of Rutgers University. The city is located on the Northeast Corridor rail line, 27 miles southwest of Manhattan, on the southern bank of the Raritan River. Dynamic Solutions City Overview
UMDNJ will be integrated into Rutgers University effective July 1, 2013. This merger will create additional opportunities as the University seeks to improve and expand its infrastructure within the City of New Brunswick. The proximity of the Pinnacle site to the RWJUH facilities makes it a desirable option for future expansion. Due to the concentration of medical facilities in the area, including Robert Wood Johnson University Hospital and Saint Peter s University Hospital, New Brunswick is known as the Healthcare City. Rutgers University also plays an important role in the continued growth of the City of New Brunswick. With a campus of over 35,000 students the University is in a constant need of development opportunities within the City borders. Offering another positive option for the Pinnacle redevelopment site. Robert Wood Johnson is a state of the art facility with specialties in but not limited to cardiac care, pediatrics and cancer care. The hospital has over 1,300 physicians along with 600 inpatient beds. Robert Wood Johnson University Hospital also serves as the teaching hospital for UMDNJ Robert Wood Johnson Medical School.
Hotels. Transportation Healthcare. Government Cultural. Universities 1. Heldrich Hotel & Conference Center 2. Spring Street Condominiums 3. NJ Transit / Amtrak Rail Line 4. Railroad platform extension 5. Proposed Ferren Deck Redevelopment 6. Route 18 / NJ Turnpike 7. UMDNJ / Robert Wood Johnson Hospital 8. Johnson & Johnson Headquarters 9. County Court House 10. New Brunswick City Hall 11. Middlesex County Court House 12. Rutgers University 13. Rutgers Nursing School 14. New Brunswick State Theater 15.George Street Shopping / Restaurants 16.Rutgers University Dormitory / Parking 17.The Highlands Residential Community
Urban Enterprise Zone (UEZ Benefits) 1. 50% reduction of NJ Sales (currently only 3.5% instead of 7%) for most retail and taxable services. 2. 100% elimination of NJ Sales/Use Tax on building materials and tangible personal property such as computers and furniture. Urban Enterprise Zone 3. A one time tax credit against NJ Corporate Business Tax for each New Brunswick UEZ resident hired that has been out of work for the previous 90 days or on public assistance. 4. Subsidized unemployment insurance costs for qualified employees. 5. Priority financial assistance from the NJ Local Development Financing Fund (LDFF) and State Department of Labor Job Training Programs. Dynamic Solutions
Property Information Price Please submit your proposal along with a development concept. Seller will consider all proposals for Site A and Site B individually, or as one parcel. Build-to-Suit leasing opportunities will be considered for office development. Site A - Block 144 Site B - Block 20.01 Lot Numbers: Lot Numbers: 14.01 16 17 18 19 20.01 22.01 37 38 39 40 41 42 43 44 2 3 4 5.02 10 +/- 2.4 Acres +/-.76 Acres
Tax Map
Site Dimensions
Aerial View: Sites A & B
Aerial View: Site A
Aerial View: Site B
Aerial View: Both Sites & Train Station
Major Roadways
Potential Site Plan
Concept Plan NEW STREET APPROACH
Potential Site Plan
Potential Site Plan
Potential Site Plan
Potential Site Plan