NJ Homebuilder Moves Headquarters To Bell Works

HOLMDEL, NJ — One of New Jersey's most well-known homebuilders has officially relocated its headquarters to Bell Works, JLL recently announced.

K. Hovnanian Companies LLC will have a 72-388-square-foot HQ at Bell Works in Holmdel, located at 101 Crawfords Corner Road.

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The transaction includes a sublease with iCIMS, followed by a direct lease extension with building ownership, Inspired by Somerset Development.

The company will occupy fully built and furnished space on the third floor of Building 3.

"Our team evaluated every scenario, from remaining in place and renewing to expanding and pursuing a relocation, before identifying an exceptional opportunity at Bell Works," said Peter Ladas, Executive Vice President, JLL.

"By first structuring a new sublease with iCIMS, followed by a direct lease extension, we were able to secure premium, fully furnished space at favorable economics and greater long-term cost certainty," he continued. "More importantly, this was a strategic decision that will strengthen K. Hovnanian's employee experience, corporate identity and organizational culture for years to come."

Originally developed as the Bell Labs research campus, Inspired by Somerset Development has transformed the formerly vacant 2-million-square-foot property into a 'metroburb', a self-contained metropolis in suburbia, known as Bell Works.

The mixed-use destination is composed of a mix of office tenants, retailers, co-working spaces, entertainment, dining venues and more, offering a highly amenitized campus and collaborative environment for various tenants.

Brad O' Connor, CFO at K. Hovnanian, said their new headquarters "represents an important investment in our people and the future of our company."

"We wanted a workplace that reflects who we are as an organization while providing flexibility and long-term stability to support our business," Connor said. "Working with JLL, we identified an opportunity that brings together a high-quality office environment and a location that supports our team for future growth."

Known as one of the Garden State's most established homebuilders, K. Hovnanian has over 330,000 homes in its portfolio with operations across the U.S.

"Having a company with such a strong presence and history in New Jersey choose Bell Works for its headquarters speaks to the unique environment we've created here," said Ralph Zucker, President and CEO of Inspired by Somerset Development.

"We look forward to welcoming their team into our growing community and providing a workplace where their employees can connect, collaborate and thrive."

To learn more about K. Hovnanian, you can visit their website.

Bell Works is located 101 Crawfords Corner Road, Holmdel.