Netflix has emerged as the winning bidder for a 293-acre mega-parcel at the former Fort Monmouth US Army base in Monmouth County, NJ. The streaming giant plans to build a film production facility on the site—the second major film studio to be announced in the Garden State in the past month.
According to a report in the Asbury Park Press, Netflix confirmed that it is the "preferred choice" of the Fort Monmouth Economic Revitalization Authority (FMERA), the agency in charge of redeveloping the army base, among four companies that submitted bids in June for the mega-parcel.
The mega-parcel was cobbled together from smaller pieces of the sprawling former base by the FMERA for the express purpose of luring the Netflix studio from Georgia to New Jersey.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.