CHERRY HILL, N.J., Dec. 9, 2015 /PRNewswire/ -- Subaru of America, Inc. today broke ground on its future home in Camden, NJ. The company plans to develop an all-new $118 million corporate headquarters in the city, and in doing so, maintain its corporate headquarters in New Jersey as it has for approaching 50 years.
The automaker's new headquarters will be located adjacent to Campbell Soup Company's world headquarters. The Subaru of America campus will be the first new corporate headquarters in Knights Crossing, a master plan urban town center community, being developed by Brandywine Realty Trust.
The ground-breaking ceremony featured a display of historic Subaru vehicles from the company's 50 years in the Delaware Valley, as well as a unique earth moving/groundbreaking ceremony conducted by a specially-produced Subaru Outback with an attached plow.
Thomas J. Doll, president and chief operating officer of Subaru of America, said: "We are very excited to be moving this project forward as we seek to bring our family of employees together on one site. This signing cements the long-term future of Subaru in the Delaware Valley and we are pleased that, after almost 50 years here, we can plan to continue to be a part of the local community we have supported for so long."
Gerard H. Sweeney, president and chief executive officer of Brandywine Realty Trust, said: "We are delighted to contribute to the revitalization of Camden and look forward to Knights Crossing becoming a significant catalyst to the renaissance taking place in Camden. We're especially honored to be developing this state-of-the-art campus for such a well-renowned and admired company as Subaru of America. Subaru's decision, coupled with the long-standing commitment by Campbell, provides an excellent platform for further economic development and job creation in the city of Camden."
Denise Morrison, President and Chief Executive Officer of Campbell, said: "This project has been a decade in the making. When we announced our plans to develop an office park, many people believed it would never come to fruition. But we were determined to revitalize our headquarters and to spearhead the renaissance of the Gateway. Today, our plan becomes reality. It's with great pride that we welcome Subaru to Camden."
Subaru of America has had its corporate headquarters in NJ since 1969 and has been in its current location in Cherry Hill since 1986. It also has two offices in Pennsauken, space at Executive Campus in Cherry Hill and a distribution and training center in Florence, NJ. The Pennsauken and Cherry Hill offices will combine onto the new HQ Campus. Subaru will bring more than 600 employees and contractors to the city of Camden. The new facility, at 250,000 square feet, plus an additional building at 83,000 square feet will be more than double the size of its current headquarters building and will bring employees from four sites onto one campus.
Subaru plans to complete the project by the end of 2017.
The entire Knights Crossing development upon completion will consist of 1.4 million square feet of innovative office, full-service amenities, ample public greenways and will ultimately be served by two sources of public transportation.
Camden City Mayor Dana Redd said: "We are delighted to officially break ground on this critical project as we welcome Subaru of America and their employees to the City of Camden. This continues the long term commitment by Subaru to the region and now to our city. Subaru's development builds on Campbell's investment in the Gateway District and beginning of what will be the region's top office park. It is the result of strong partnerships and is a shining example of real public-private investment. We are talking about significant investments in upgraded infrastructure, the creation of Class A office space, jobs, and a catalyst for future development. I commend Brandywine Realty Trust, Campbell Soup Company and Subaru of America for their commitment to Camden's community and the City's revitalization."
New Jersey Lt. Governor Kim Guadagno said: "Companies, especially those of Subaru's stature and reputation, have a choice when they decide where to set up shop and do business. Subaru saw that a valuable partnership with New Jersey was their best option. This was made possible by a Grow NJ award, valued at nearly $118 million, an example of the good that can come when businesses team up with the state of New Jersey to create jobs. This project will have a net benefit of $167.9 million. Subaru will retain 600 jobs and create 100 new positions, and the company will make a matching capital investment into the facility."
Follow the Subaru Camden HQ project at: www.subaru.com/camden.html.
About Subaru of America, Inc.
Subaru of America, Inc. is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan. Headquartered at a zero-landfill office in Cherry Hill, N.J., the company markets and distributes Subaru vehicles, parts, and accessories through a network of more than 620 retailers across the United States. All Subaru products are manufactured in zero-landfill production plants, and Subaru of Indiana Automotive, Inc. is the only U.S. automobile production plant to be designated a backyard wildlife habitat by the National Wildlife Federation. For additional information, visit media.subaru.com.
About Brandywine Realty Trust
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Washington, D.C., and Austin markets. Organized as a real estate investment trust (REIT), it owns, develops, leases and manages an urban, town center and transit-oriented portfolio comprising 239 properties and 30.7 million square feet as of September 30, 2015. Its purpose is to shape, connect and inspire the world through expertise, relationships, the communities in which it lives and works, and the history it builds. Brandywine's deep commitment to its communities was recognized by NAIOP naming Brandywine the 2014 Developer of the Year – the highest honor in the commercial real estate industry. For more information, please visit www.brandywinerealty.com.
Michael McHale
Subaru of America, Inc.
856-488-3326
[email protected]
Diane Anton
Subaru of America, Inc.
856-488-5093
[email protected]
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SOURCE Subaru of America, Inc.
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