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AT&T Campus in Hoffman Estates Set for Transformation
The former AT&T campus in Hoffman Estates will be getting the Bell Works treatment. Somerset Development, which transformed a two-million-square-foot former Bell Labs facility in Holmdel, NJ into a “metroburb,” plans to reposition the AT&T site along similar lines.
Somerset has closed on its acquisition of the 1.65-million-square-foot Hoffman Estates property, vacant since 2016, with partner Triangle Capital Group. Terms were not disclosed.
Taconic Capital Advisors provided acquisition financing and a future funding facility for pre-development costs. Colliers will serve as exclusive broker for Somerset.
Referring to the Holmdel redevelopment, Colliers principal Steve Kling said, “Bell Works is much more than a live, work, play marketing campaign—it is a revolutionary project that hits a bullseye on everything the modern employer is looking for. The creation of a new metroburb will bring new life and energy to this campus, and we are honored to be a part of that process.”
For comments, questions or concerns, please contact Paul Bubny
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