South Jersey Technology Park Board Names Developer
The board of directors of the South Jersey Technology Park at Rowan University at its December 18 meeting retained Lincoln Property Company, of Philadelphia, as master developer of Phase I of its plan
The board of directors of the South Jersey Technology Park at Rowan University at its December 18 meeting retained Lincoln Property Company, of Philadelphia, as master developer of Phase I of its planned technology campus in Mantua Township.
As master developer, Lincoln Property will provide pre-construction and pre-development services for the technology park, which will be located approximately one mile from Rowan University off Rt. 322. Additionally, Lincoln Property will actively market the site, manage the infrastructure work, lease the land for the project to develop and construct the first building in the park, work on the continued development of subsequent elements of the technology park and provide property management and leasing services. The Technology Park will contribute up to $5.8 million it received as a grant from the New Jersey Economic Development Authority for the construction of infrastructure improvements and the first building.
Lincoln Property Company is a full-service real estate company with offices throughout the United States and Europe. Ranked number four office developer and number five office owner by National Real Estate Investor (July 2002), Lincoln Property Company is responsible for $9.6 billion/103 million square feet of commercial development and $7.6 billion/170,000 units of residential development. The company manages 150 million square feet of commercial property and 88 million square feet of residential property.
Locally, Lincoln Property Company is affiliated with Penn Mutual Towers and 1760 Market Street in Philadelphia, Commodore Park in Woolwich Township and RiverWinds in West Deptford Township, among many other projects.
?Lincoln Property Company has the track record we need to develop the South Jersey Technology Park,? said Dr. Donald Farish, president of Rowan University. ?The Technology Park board is pleased to have this organization as its partner in a project we believe will have a significant impact on both education and the economy in South Jersey.?
The Technology Park is a proposed mixed-use research and academic high-technology park/campus that will be developed in phases, with the first phase consisting of up to 200,000 square feet of building space in as many as four buildings. The first building will contain 50,000 square feet. Upon completion of subsequent phases, the 100 acres plus site ultimately could accommodate up to one million square feet of academic and research space. The Technology Park will maintain ownership of the land, which it will lease to Lincoln Property. Construction on the project is expected to start in four to 12 months, depending on the permitting process.
?This is a ?Field of Dreams? project,? Farish said. ?The notion is if we build it, they will come. There?s nothing like this in the county.? The Technology Park will provide a turnkey operation for researchers and start-up business people, among others.
Farish said at the end of Lincoln?s lease, which he expects to be in 30 to 50 years, ownership of the buildings will revert back to the Technology Park.
Rowan?s president noted, ?As the economy of the region continues to develop, to some extent the direction it develops is far from certain. This is an opportunity for at least some of that development to include high-paying, high-technology jobs.?
The Technology Park Board also named Dr. Anthony Marchese as project director for 2004. Marchese, a professor of Mechanical Engineering at Rowan, will continue to work for the College of Engineering on a half-time basis and devote the remainder of his time to the Technology Park.
Marchese earned a Ph.D. and M.A. in Mechanical and Aerospace Engineering from Princeton University and an M.S. and B.S. in Mechanical Engineering from Rensselaer Polytechnic Institute. In addition to teaching at Rowan since 1996, Marchese has been a visiting fellow at Princeton, an assistant research engineer for United Technologies Research Center and a faculty fellow with NASA. He has consulted for a broad group of organizations, including Princeton and Kimble Glass, Vineland. He is a member of numerous professional organizations, an active presenter and holder of two patents. He has published extensively in his field. He was named a Carnegie Scholar by the Carnegie Foundation for the Advancement of Teaching in 2001.
In his new post, Marchese will be involved in the initial development plan of the Technology Park, preconstruction facility planning and design of the first building; outreach to government, economic development organizations and local industry; internal communication; and fundraising.