The New Jersey Economic Development Authority (NJEDA) issued a request for proposals (RFP) for offers to buy an NJEDA-owned, 26-acre property located on Route 1 in North Brunswick, Middlesex County, New Jersey. The RFP can be found here.
“We encourage companies looking to enter, or expand within, New Jersey’s dynamic innovation ecosystem to consider this prime spot between Princeton and Rutgers universities,” NJEDA Chief Executive Officer Tim Sullivan said. “Under Governor Murphy’s leadership, New Jersey is recapturing its role as a leader in innovation and we routinely hear from entrepreneurs about the positive impact locating in the state has on their businesses. Often-cited assets include the state’s top-notch talent pipeline, including the vast pool of scientists and researchers, and easy access to major economic hubs up and down the Northeast Corridor.”
In 2004, NJEDA purchased from DKM Properties approximately 24 acres of vacant land, (Parcel 1), and an approximately 2-acre parcel that includes a retention basin (Parcel 2) on US Route 1 North, North Brunswick.
Since March 31, 2017, NJEDA has received several unsolicited offers and inquiries to purchase the Property. In response to the unsolicited offers, NJEDA has issued an RFP to solicit offers from entities interested in acquiring the Property.
A Proposer may submit an offer to:
- purchase the Property and receive fee simple title at a closing.
- ground lease the property, which must include the purchase of the Property at the end of the lease term.
A Proposer also may submit two separate offers: one to purchase the Property and one to ground lease the Property and purchase it at the end of the lease term.
The dates below are provided to interested Proposers for planning purposes only. These are estimated timeline dates and do not represent firm commitment dates by which NJEDA will take action.
A. Key events:
- Question and Answer Period Ends: January 17, 2022 at 1:00 PM (EST)
- If required, Addendum with Q&A Responses, estimated: February 1, 2022.
- Proposals Due: March 16, 2022 at or before 1:00 PM (EST)
- Estimated Recommendation for Award: May 11, 2022
- Agreement Execution Date: June 1, 2022
B. Pre-proposal Conference / Site Tour
Prior to submitting an offer, NJEDA strongly recommends that all interested Proposers tour the Property. A Proposer may take an unaccompanied site tour of the Property, at its own risk, between December 13, 2021 and January 17, 2022.
Any questions as a result of the Proposer’s site tour must be presented as required under Section 6c of the RFP.
NJEDA will not provide special consideration after responses to this RFP are opened.
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.