ROSSLYN, VA–Gerber Products Co., a subsidiary of Nestlé S.A., is moving its New Jersey headquarters to the same building that its parent famously decided to occupy last year: Monday Properties' 1812 N. Moore St.
Nestlé is investing $5 million to relocate Gerber to join its corporate headquarters; the baby food company will take 23,392-square feet in the 580,000-square foot office and create some 150 jobs, according to Virginia Governor Ralph Northam's office.
The relocation will bring Nestlé's total footprint in the building to 252,000 square feet, which is 47,000 more than when the company first announced its relocation last year. Nestlé signed a 15-year lease for 196,000 square feet, plus additional 9,000 square feet of retail/lobby space in February 2017. The Gerber lease adds three more floors of the building to its occupancy.
To help bring Gerber to Virginia, Northam approved a Commonwealth Opportunity Fund grant of of $862,500 for the project, which Arlington County will match in local infrastructure improvements. Funding and services to support the company's employee training activities will be provided through the Virginia Jobs Investment Program. Arlington County is expected to receive an estimated $4.2 million in net new revenue over a 15-year period as a result of the deal.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
