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There's no place like home?

November 25, 2014

After widening several sections of the state's two major toll roads, the New Jersey Turnpike Authority's next project may be hunting for a new home. Officials took proposals from real estate consultants earlier this month to help them decide whether to build a new headquarters on three pieces of authority-owned land, including a site in Holmdel, or stay in the current leased office space on Main Street in Woodbridge. "The Authority plans to explore all options for a building to house its headquarters after the lease on the current building expires in 2017," said Thomas Feeney, an authority spokesman. "A real estate expert to help answer questions about the most efficient and cost-effective way to move forward." Feeney declined to say how many consultants submitted proposals until the Board of Commissioners votes to hire one, which could happen in late January. The lease on the current offices at 581 Main Street ends in 2017, where the authority paid an annual rent of $2.31 million this year to house 450 workers, according to its request for proposals. One requirement is that a new building be located on or close to either the Parkway and Turnpike. The current building is near both toll roads. Among the options authority officials want a consultant to research are building a new headquarters at three sites now owned by the authority, including: The 400-acre Telegraph Hill site, off Parkway exit 116, near the PNC Bank Arts Center. The 7.5 acre former New Jersey Highway Authority headquarters site in Woodbridge, which now houses the Statewide Traffic Management and Technology Center. A consultant would be asked to report on the feasibility of constructing a new building on the site located between the Parkway and Route 9. The original Turnpike Authority headquarters in East Brunswick, near Route 18 and Exit 9 on the Turnpike. Consultants also have to look at other options for using or selling that 10.9 acre property. The other option to be studied is to negotiate a new term for the 100,223 square feet of office space now leases from Mack-Cali. The authority leased six floors there in Oct. 2007, consolidating the former Highway Authority offices with the Turnpike after they merged in May 2003. * this article was written by Larry Higgs|NJ Advance Media for NJ.com