Subaru picks Camden for new HQ

Enlarge Photo

Akio Kon | Bloomberg

Subaru of America Inc. has settled on building a new North American headquarters at the Gateway District in Camden, N.J.

15 photos

Home of the Day

Sponsor Listing

Natalie Kostelni

Reporter- Philadelphia Business Journal

Email  |  Twitter

Subaru of America Inc. has settled on building a new North American headquarters at the Campbell Gateway District in Camden, N.J.

The company will potentially receive upwards of $100 million from the New Jersey Economic Development Authority through its Grow N.J. program that offers huge financial incentives to firms that locate in Camden and grow jobs there.

The addition of Subaru to the Gateway District is the first of what is expected to be a handful of other companies and headquarters to locate on that evolving corporate campus and use taxpayer subsidies to help them.

It took Subaru a while to settle on Camden. After roughly three years of looking at both the New Jersey and Philadelphia sides of the Delaware River, Subaru said Friday that it will construct a 250,000-square-foot building at the Campbell Gateway District.

This is a 45-acre area in which Campbell Soup Co., which is based in Camden, is master developer. Brandywine Realty Trust was appointed in October by the soup company to be the developer. Brandywine is a Radnor, Pa., real estate investment trust that owns and builds office and mixed-use developments.

Subaru will have 500 employees working from the new facility and the project is expected to be completed by late 2016 or early 2017.

In a statement, 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 all of our corporate employees together on one site, in a first-class facility. This move cements the long-term future of Subaru in the Delaware Valley and we are pleased that after more than 45 years here, we can plan to continue to be a part of the local community we have supported for so long."

Natalie Kostelni covers real estate and economic development.