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Inspired by Somerset Development launches Third-Party Buildout and Tenant Improvement Services arm

Noted Bell Works developer will help partners save time and money while creating modern, flexible office spaces that appeal to a wide variety of modern users

 

HOLMDEL, N.J. — (BUSINESS WIRE) — Inspired by Somerset Development (Inspired), one of the real estate industry’s foremost innovators in large-scale mixed-use redevelopment, today announced the launch of its Third-Party Buildout and Tenant Improvement Services for tenants in the office sector.

 

Led by Executive Vice President David Schreiber, Inspired will leverage both its in-house team and network of experienced architects, engineers and designers who are aligned in their ability to proficiently navigate the complex design and construction processes to create modern, highly flexible workspaces that cater to the evolving needs of today’s office tenants. Its expertise includes the creation of traditional workspaces, medical offices, laboratories and tech firms, with solutions also available to subletting tenants through a direct deal with Inspired.

 

Inspired is based in Holmdel, N.J. and offers its third-party buildout and tenant improvement services to tenants throughout the Tri-State Area.

 

“Today’s office owners and tenants alike are hyper-focused on project timelines and bottom lines as they look to create work environments that can cater to and pivot the fast-evolving nature of the market,” said Schreiber.

 

“These third-party solutions will allow us to work directly with the tenant to streamline every aspect of the design and construction process to create highly desirable, turnkey office spaces. We pride ourselves on treating every dollar like it was our own dollar and strive to complete each project in a timely and affordable manner. In a market where time and money are paramount, Inspired is offering its proven redevelopment expertise to bolster the success of office construction for companies of all sizes.”

 

Inspired’s success to date as a third-party buildout and tenant improvement manager has been driven by its success creating Bell Works, the country’s first ‘metroburb’ — a self-contained metropolis in suburbia — for the past decade by successfully transforming the abandoned 2 million-square-foot Bell Labs facility in Holmdel, N.J., into a thriving ecosystem of technology, traditional office, retail, dining and hospitality.

 

In addition to Bell Works, the firm has spent years designing and developing other residential and commercial projects throughout New Jersey, leveraging a hands-on approach to obtain building permits and navigate the logistical process that often slows down other redevelopment projects.

 

With the launch of these new third-party services, the veteran team will offer its expertise to tenants outside its portfolio who are in need of fit-out construction within existing office spaces. Companies ranging from startups to major corporations will be able to collaborate with Inspired and receive preliminary sketches as well as projected timelines and numbers to ensure that overall budgets are adhered to and a successful outcome obtained.

 

Among Inspired’s recent successes was the buildout of a 26,615-square-foot office space at Bell Works New Jersey for CentralReach, a leading provider of electronic medical record (EMR) software and services for applied behavior analysis (ABA) and related behavioral health practices. The company’s staff of 300-plus workers operates on a fully remote basis but worked closely with Schreiber and the Inspired team to create a unique, collaboration-focused space it has deemed “the office of the future.”

 

“Of all the office buildouts I have done in the past, this was the most seamless by far. The project was tightly managed, came in under budget, timelines were met if not beat and we were able to leverage Inspired’s relationships on the architectural, design and furniture end to achieve great pricing with best-in-class vendors,” said Nicole Trivigno, Senior Manager of Global Workplace and Employee Experience at CentralReach.

 

“I could go on and on about how happy we are with our space at Bell Works. Inspired always had our best interest at heart, and I look forward to partnering with them on additional projects in the future.”

 

Inspired’s long history of representing office owners as well as tenants ensures the efficient navigation of both sides of the buildout process. The company’s portfolio includes 3.8 million square feet of reimagined office space at the two Bell Works locations in Holmdel, NJ, and Hoffman Estates, IL, where it has completed more than 1 million square feet in tenant buildouts to date. Past redevelopment projects include the in-house coworking space ‘coLab’, which maintains space in both Bell Works locations.

 

For more information, please visit https://inspiredsd.com/

 

About Inspired by Somerset Development

Inspired by Somerset Development is a leading real estate developer focusing on large-scale transit-oriented and brownfield redevelopment projects, led by a team of principals with more than 40 years of development experience. The company has positioned itself as one of the nation’s foremost real estate firms specializing in innovative mixed-use and adaptive reuse projects, including the planning and development of Traditional Neighborhood Design communities that evoke a strong sense of place and reflect a distinctive character.

 

With several high-profile, large-scale redevelopment and development projects under construction or in the planning stages, Inspired has earned a quality reputation for its unwavering commitment to excellence through responsible development practices. For more information on Inspired by Somerset Development, contact the company by calling (732) 367-2828 or via the company’s new website at inspiredsd.com.

Contacts

Media:

Antenna Group

bellworks@antennagroup.com
(312) 489-8479

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AM Best to host webinar on how insurers are responding to funding-backed litigation

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best and Best’s Insurance Professional Resources will host a complimentary webinar entitled “How Insurers Are Responding to Funding-Backed Litigation.”

 

The webinar will air on Tuesday, April 25, 2023, at 2:00 p.m. ET. Claims and legal experts examine the rise of litigation funding, including trends in disclosure requirements, how funding is affecting settlement strategies and litigation costs. Register today: http://www.ambest.com/webinars/litigation/index.html.

 

Panelists include:

  • Michael Briggs, Partner, Litigation & Dispute Resolution, McMillan
  • Marie Castronuovo, Partner, Russo & Gould, LLP
  • Dr. Janine McCartney, Ph.D., MBA, CSP, CHST, HHC Safety Engineers
  • Fred Fisher, President, Fisher Consulting Group Inc.

 

Attendees can submit questions during registration or by emailing webinars@ambest.com. The event will be streamed in video format, and playback will be available to registered viewers shortly after the event.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Company, Inc. and/or its affiliates.

ALL RIGHTS RESERVED.

Contacts

John Czuba
Managing Editor, Best’s Insurance Professional Resources
+1 908 439-2200, ext. 5673
john.czuba@ambest.com

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Government Lifestyle Local News Programs & Events Regulations & Security

County Clerk advises residents on home title scam, Property Alert Service

TRENTON, N.J. — Mercer County Clerk Paula Sollami Covello reminds County residents about home title theft that can occur when someone forges the deed to your property so that the title is no longer listed under your name.

This kind of theft usually coincides with identity fraud. Con artists often use a falsified or stolen identity to hide their involvement in the theft. Then, they create a fake document that transfers ownership of the property to their own name instead of the name of the valid owner. Some property owners are much more likely to fall victim to deed theft such as seniors, individuals with second homes, or identity-theft victims.

 

To ensure that one’s property is protected, Sollami Covello reminds residents to register for the County Clerk’s Property Alert Service to provide property owners with important alerts concerning their properties. The Property Alert Service is completely free and alerts Mercer County property owners when the Mercer County Clerk’s Office records a document affecting a specific property. Residents can sign up for the alert system by going to https://records.mercercounty.org/PropertyAlert/ and registering.

 

It should be noted that the Property Alert Service does not prevent fraudulent activity from occurring; it helps monitor activity and transactions on properties. 

 

Anyone who suspects fraudulent activity should contact authorities. Additionally, if a County resident feels they have been victimized by property fraud, they may call our County Clerk’s Property Alert Hotline at 609-989-6470.

 

For more information, please visit the Mercer County Clerk’s website at https://www.mercercounty.org/government/county-clerk or call the office’s main number at 609-989-6465.

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Government Lifestyle Local News Programs & Events

New program in Mercer County can assist homeowners with HECM reverse mortgages

TRENTON, N.J. — County Clerk Paula Sollami Covello would like to inform homeowners in Mercer County with Home Equity Conversion Mortgages (HECM) about a new program from the federal government.

 

The HECM is a reverse mortgage loan insured by the Federal Housing Administration (FHA) for borrowers who are at least 62 years old.

 

“As the County’s property recorder, I strive to keep residents informed of programs that exist to help them, especially when they may be under financial stress,” said County Clerk Sollami Covello.

 

This government-insured loan allows homeowners to convert their home equity into cash. HECM borrowers are a particularly vulnerable population and continue to experience difficulties due to the lingering effects of the COVID-19 pandemic. To remedy this, the federal government has taken significant steps to help facilitate economic recovery from the pandemic.

 

The U.S. Department of Housing and Urban Development (HUD), which oversees the HECM program, recently announced a new repayment option that will provide protection for borrowers who have fallen behind on their property charges.

 

The Homeowner Assistance Fund (HAF) provides financial assistance to eligible homeowners who have suffered financial hardships during COVID-19.

 

Mortgagees may provide a borrower with a COVID-19 “HECM Property Charge Repayment Plan” if the borrower has been impacted by the COVID-19 pandemic and is currently on a standard repayment plan. The maximum length of a repayment plan is 60 months. This 60-month time-period is not reduced by any time that a borrower utilized a standard HECM repayment plan.

 

For more information on this program, call the FHA Resource Center at 1-800-CALL-FHA, email answers@hud.gov or visit www.hud.gov/answers.

For more information on the services offered by the Office of the Mercer County Clerk, please visit the Mercer County Clerk’s website at https://www.mercercounty.org/government/county-clerk or call the office’s main number at 609-989-6465.