One MetLife Way, Hanover Township, NJ
HANOVER TOWNSHIP, NJ—Vision Real Estate Partners and Rubenstein Partners have sold the newly completed MetLife Investments Global Headquarters property in Hanover Township, NJ, to Salus Government Properties for $95 million.
The transaction completes a pioneering, five-and-a-half-year initiative that has successfully repurposed and redeveloped the 194-acre former Alcatel-Lucent campus at 67 Whippany Road.
Bell Laboratories operated at 67 Whippany Road from the 1920s through 2009, and through mergers and acquisitions had become Alcatel-Lucent when the company relocated 2,100 employees to Murray Hill and put the property up for sale. In 2010, a joint venture of Vision Real Estate Partners' predecessor firm, Vision Equities, and Rubenstein Partners purchased the campus – including 15 vacant buildings totaling 1.4 million square feet – with the plan to redevelop it as a modern campus reflecting its highest and best use.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
