{"id":1004701979,"date":"2024-02-13T00:23:00","date_gmt":"2024-02-13T08:23:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004701979"},"modified":"2024-02-13T07:07:04","modified_gmt":"2024-02-13T15:07:04","slug":"bdp-holdings-to-build-new-jersey-office-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/","title":{"rendered":"BDP Holdings to Build New Jersey Office Project"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2ca79fee976&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"893\" height=\"669\" data-attachment-id=\"1004701980\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/iris1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg\" data-orig-size=\"893,669\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Linda O&#039;Flanagan&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1706520650&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"iris1\" data-image-description=\"&lt;p&gt;The Iris. Image courtesy of JLL&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Iris. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg?w=893\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg\" alt=\"A rendering of The Iris\" class=\"wp-image-1004701980\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg 893w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 893px) 100vw, 893px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Designed by Gensler, The Iris will encompass 130,000 square feet. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>BDP Holdings<\/strong> has unveiled plans for The Iris, a ground-up office development totaling 130,000 square feet in Montclair, N.J. <strong>JLL <\/strong>serves as exclusive leasing agent for the project that will commence vertical construction within 18 months of site plan approval.<\/p>\n\n\n\n<p>Designed by <strong>Gensler<\/strong>, the Class A office development will rise at 641 Bloomfield Ave. The building will comprise 124,000 square feet of office space on the top three floors and 8,000 square feet of retail, as well as 277 vehicle parking spots.<\/p>\n\n\n\n<p>A vacant six-story warehouse and adjacent single-story retail buildings will be razed from the site, to make way for the new project. The Iris will include a lobby, retail storefronts, outdoor terraces, a skylit atrium and an interior staircase, according to <em>Real Estate NJ<\/em>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/suburban-offices-embrace-amenities-and-change\/\">Suburban Offices Embrace Amenities and Change<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>There is strong demand for new office space in the city and the project will strengthen the town\u2019s tax base and local businesses, said BDP Founder &amp; CEO David Placek in prepared remarks. The developer\u2019s aim is to find the right anchor tenant for The Iris and build the new space around its specifications, added Placek.<\/p>\n\n\n\n<p>The building will be close to multiple bus and train stations, as well as to major highways. The site is 10 miles from downtown Newark, N.J., 14 miles from Newark Liberty International Airport, 17 miles from Jersey City and 20 miles of Manhattan.<\/p>\n\n\n\n<p>JLL\u2019s team of Vice President Chris Masi, Executive Managing Director Tim Greiner and Managing Director Tom Stanton will market the property for lease. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-developments-in-new-jersey\">New developments in New Jersey<\/h2>\n\n\n\n<p>The Iris will be next to Lackawanna Plaza redevelopment plan that received final approval in October 2023, according to <em>northjersey.com<\/em>. BDP is also in charge of revitalizing the 8.2-acre site that includes the historic Lackawanna Terminal. Plans call for an improved Lackawanna Plaza, the addition of five new buildings, multifamily projects totaling 300 units of mixed-income housing, multiple retail options and a new supermarket.<\/p>\n\n\n\n<p>As of December, New Jersey had 1.7 million square feet of office space underway, accounting for 2.3 percent of total stock, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/navigating-office-sector-transitions-in-2024\/\">CommercialEdge report<\/a>. The average listing rate clocked in at $35 per square foot, below the national figure of $38 and marking a 5.3 percent increase year-over-year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gensler designed the 130,000-square-foot building.<\/p>\n","protected":false},"author":2991,"featured_media":1004701980,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,1600,21742,10,21747],"tags":[52319,33012,32796],"class_list":["post-1004701979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-new-york","category-latest","category-northeast","category-office","tag-bdp-holdings","tag-gensler","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BDP Holdings to Build New Jersey Office Project - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"BDP Holdings plans to develop The Iris, an office project totaling 130,000 square feet in Montclair, N.J.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BDP Holdings to Build New Jersey Office Project\" \/>\n<meta property=\"og:description\" content=\"BDP Holdings plans to develop The Iris, an office project totaling 130,000 square feet in Montclair, N.J.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-13T08:23:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-13T15:07:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"893\" \/>\n\t<meta property=\"og:image:height\" content=\"669\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/\",\"name\":\"BDP Holdings to Build New Jersey Office Project - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg\",\"datePublished\":\"2024-02-13T08:23:00+00:00\",\"dateModified\":\"2024-02-13T15:07:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"BDP Holdings plans to develop The Iris, an office project totaling 130,000 square feet in Montclair, N.J.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bdp-holdings-to-build-new-jersey-office-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/iris1-e1707736012196.jpg\",\"width\":893,\"height\":669,\"caption\":\"The Iris. 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