Somerset Development Purchases Vacant New Jersey Building for $27M, Community Healthcare Associates Plans Surgery Center

Somerset Development has recently purchased the vacant two million-square-foot Bell Labs building in Holmdel, N.J., from Alcatel-Lucent for $27 million, according to an nj.com report.

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Healthcare developer Community Healthcare Associates intends to purchase 400,000 square feet for the development of an ambulatory surgery center. Community Healthcare also plans to add physician offices, medical services and an assisted-living facility.

Somerset Development intends to fill much of the building’s space with retail outlets, sports centers and housing.

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