{"id":1004109269,"date":"2014-12-11T13:43:25","date_gmt":"2014-12-11T21:43:25","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=313112"},"modified":"2020-04-28T23:45:58","modified_gmt":"2020-04-29T07:45:58","slug":"subaru-of-america-seeks-180-million-in-tax-breaks-to-relocate-headquarters-to-camden","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/subaru-of-america-seeks-180-million-in-tax-breaks-to-relocate-headquarters-to-camden\/","title":{"rendered":"Subaru of America Seeks $180 Million in Tax Breaks to Relocate Headquarters to Camden"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">After almost three decades spent in the corporate headquarters in Cherry Hill, N.J., Subaru of America, Inc. has found a new home for its growing North American operations.<\/p>\n<div id=\"attachment_313114\" class=\"wp-caption alignright\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Subaru-of-America.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-313114\" title=\"Subaru of America\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Subaru-of-America.jpg\" alt=\"Subaru of America\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Subaru of America<\/p>\n<\/div>\n<p style=\"text-align: justify;\">Just like the <a title=\"Philadelphia 76ers Will Finally Have Their Own Training Center, But in Camden\" href=\"https:\/\/www.commercialsearch.com\/news\/cities\/philadelphia\/philadelphia-76ers-will-finally-have-their-own-training-center-but-in-camden-2\/1004098318.html\" >Philadelphia 76ers<\/a>, who received $82 million in development incentives from the state of New Jersey this summer, the US arm of the Japanese carmaker Subaru is seeking nearly $118 million in tax breaks over the course of ten years to develop its new headquarters in Camden, just four miles from the company\u2019s current home at 2235 Route 70 West in Cherry Hill.<\/p>\n<p style=\"text-align: justify;\">According to an official statement, Subaru of America is looking to expand its footprint in North America by building an all-new facility that is part of an office park owned and developed by Campbell Soup Company, the largest and oldest business in Camden. The move is a natural result of the company\u2019s tremendous growth and record sales over the past six years.<\/p>\n<p style=\"text-align: justify;\">\u201cWe are very excited to be moving this project forward as we seek to bring all of our corporate employees together on one site, in a first class facility,\u201d said Thomas J. Doll, president and chief operating officer of Subaru of America. \u201cThis move cements the long-term future of Subaru in the Delaware Valley and we are pleased that after more than 45 years here, we can plan to continue to be a part of the local community we have supported for so long,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">The New Jersey Economic Development Authority (NJEDA) is expected to make a final decision on Subaru of America\u2019s tax break application by April 2015. If successful, the company will team up with developer Brandywine Realty Trust to complete the 250,000 square feet facility that will be double the size of the offices in Cherry Hill. According to the press statement, Subaru of America\u2019s new headquarters should become fully operational by the end of 2016 or in early 2017. The office building will house around 300 employees who will relocate from Cherry Hill, and 200 people from the company\u2019s offices in Pennsauken, N.J. Additionally, Subaru of America plans to create another 100 jobs over the next decade.<\/p>\n<div id=\"attachment_313115\" class=\"wp-caption alignleft\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Campbell-Soup-Companys-Gateway-Office-Park-in-Camden-NJ.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-313115\" title=\"Campbell Soup Company's Gateway Office Park in Camden NJ\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Campbell-Soup-Companys-Gateway-Office-Park-in-Camden-NJ.jpg\" alt=\"Campbell Soup Company's Gateway Office Park in Camden NJ\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Campbell Soup Company&#8217;s Gateway Office Park in Camden N.J.<\/p>\n<\/div>\n<p style=\"text-align: justify;\">Located in the Gateway District of Camden, Campbell\u2019s 45-acre office park is being developed by Brandywine Realty Trust on and around the site of the demolished Sears Building at 1300 Admiral Wilson Boulevard\u2014which Campbell purchased in June 2012 from owner Ilan Zaken for $3.5 million\u2014and multiple adjacent parcels that the master developer acquired since then. Projected to revitalize the business sector in Camden, a former industrial city, the $132 million Gateway Office Park was designed by architecture firm Cooper, Robertson &amp; Partners. With Campbell as anchor tenant, the office park is expected to attract several other businesses in Camden.<\/p>\n<p style=\"text-align: justify;\"><a title=\"Philadelphia Apartment Market Slightly on the Rise Despite Sluggish Economy\" href=\"https:\/\/www.multihousingnews.com\/market-data\/philadelphia-apartment-market-slightly-on-the-rise-despite-sluggish-economy\/1004104292.html\" target=\"_blank\" rel=\"nofollow\"><strong>Click here<\/strong><\/a> for more market data on <strong>Philadelphia<\/strong>.<\/p>\n<p style=\"text-align: justify;\"><em>Gateway Office Park plans via Campbell Soup Company<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After almost three decades spent in the corporate headquarters in Cherry Hill, NJ, Subaru of America, Inc. has found a new home for its growing North American operations.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1494],"tags":[],"class_list":["post-1004109269","post","type-post","status-publish","format-standard","hentry","category-latest","category-philadelphia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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