Hugo Neu Appoints Director of Development for 130-Acre Business Campus
- Apr 29, 2016
By Keith Loria, Contributing Editor
Meyer will report to Wendy Neu, Hugo Neu’s chairman & CEO, and Steve Nislick, the company’s chief financial officer.
“What struck me immediately about the KPIP project is the combination of inspiring leadership [in Neu and Nislick], that is committed to the values of sustainability, preservation and job creation, with a development team that has proven that they can solve challenging design and engineering issues to deliver an excellent product on time and an on budget,” Meyer told Commercial Property Executive. “In this case, the vision—to re-energize an important historical asset and restore thousands of jobs to this community—has met its match with a first rate design and development team.”
A 25-year veteran development manager, Meyer previously served as managing director at Kushner Companies, where he was responsible for securing public debt and equity for transformational urban redevelopment in New Jersey. In that position, he successfully led and managed projects including One Journal Square, a $500 million, 1.2-million-square-foot project and advanced a development pipeline of over $2 billion in Newark.
In his new role, Meyer will work closely with the Kearny Point team to leverage its existing platform and drive growth across the broader redevelopment efforts, with a particular focus on the corporate real estate arm of the business.
“This development is unique in the market, providing a type of space—historic, light soaked, soaring ceilings, great views—that is available in flexible sizes and terms, at a price that makes it a real value,” Meyer said. “For people that are starting or growing a business, for folks that need spaces to build, and that want to both be inspired by the place they work, and the people they work around, KPIP will be the place where they will want to be.”
The site experienced massive flooding during super-storm Sandy, yet despite the huge disruption, all of the tenants that were on the site at the time insisted on returning. According to Meyer, the development plans will need to incorporate complex and diverse engineering solutions that will ensure that future tenants do not face similar disruption and loss when the next “500 year” storm hits.
Kearny Point ownership is committed to returning thousands of jobs to the once thriving historical area, acting as a catalyst for the revitalization of South Kearny.
“Our first building, Building 78, was really a ‘proof of concept,’ testing the market and the willingness of folks to come to this location for creative office, studio and light manufacturing uses,” Meyer said. “Based on the first six months of leasing, the building is already currently more than 70 percent leased, proving to us that there will be strong demand for flexible spaces with great design at a reasonable cost.”