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Vacant AT&T Campus May Get New Life as MXU
Although still in the early conceptual stages, a plan by New Jersey developer Somerset Development could do for the former AT&T campus in suburban Hoffman Estates, IL what Somerset did for the former Bell Labs research campus in Holmdel, NJ. Somerset has filed an application to turn the vacant 1.6-million-square-foot site into a mixed-use “self-contained metropolis in suburbia,” and will present its plan to Hoffman Estates officials on May 14.
Somerset is poised to close on an acquisition of the site from loan servicer C-III Asset Management, which took control of the property in a sheriff’s sale last year. The developer’s plan for the campus, which AT&T vacated a few years ago, calls for 550 residential units, 1.2 million square feet of office, 60,000 square feet of retail and a 200-key hotel.
In its conceptual site application, Somerset called its proposed redevelopment “the town center that Hoffman Estates craves.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
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