The Hampshire Companies held a groundbreaking event for its LEED Certified office building located at 175 Park Avenue in Madison, N.J., on February 1, 2012. Realogy Corporation, which is the parent company of leading real estate franchise brands including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, and Sotheby's International Realty, will relocate from Parsippany, N.J., to occupy the entire soon-to-be 270,000-square-foot building as its new headquarters in late 2012. Governor Chris Christie, Lieutenant Governor Kim Guadagno, Mayor Robert Conley, Madison officials, and Hampshire and Realogy executives were in attendance.
“We’re extremely proud to break ground on what marks Hampshire’s third speculative office project since 2007, when commercial construction halted across the state,” said James E. Hanson, II, President and CEO of The Hampshire Companies. “Through our persistent development of spec office products in New Jersey, and with great support from Gov. Christie and Lt. Gov. Guadagno, we’ve been able to attract and retain quality tenants like Realogy. We’re honored to welcome Realogy to its new home, a building designed to embody what it means to be a productive and competitive 21st century business."
Jon Hanson, Chairman and Founder of The Hampshire Companies, welcomed Gov. Christie, who praised Lt. Gov. Guadagno’s support of business retention in the state, citing the great progress the administration has made in the last two years. “We have ended the decade of joblessness and business rejection in New Jersey, and we’re back to letting businesses know that they’re welcome to grow here,” said Gov. Christie. “The noise of construction is the greatest noise I can hear as Gov., and I want to thank Hampshire and Realogy for continuing to invest in the state of New Jersey and contributing to its comeback.”
Lt. Gov. Guadagno applauded the state’s first retention save and highlighted the importance of incentivizing businesses to stay in New Jersey, adding that, “No price can be put on the community contributions these Realogy employees will make and the value they’ll bring the state by improving quality of life.”
Hampshire partnered with Kohn Pederson Fox to pioneer a major change in commercial real estate development in New Jersey combining great use of space, natural light and the latest technologies with superior design. Upon completion, the property will be LEED Silver Certified and designed to be sensitive to the neighborhood and its surrounding natural environment.