Netflix’ offer for a parcel of land at Fort Monmouth in NJ, where it wants to build a state-of-the-art production studio, was chosen as the top bid – a key step although not yet a final one.
The due diligence period and an examination of Fort, which is a former military base, will take place over the next few weeks. Finally, economic terms will be finalized. An agreement to sell the Fort would need approval from several states, counties and localities.
However, “While there is still work to be done with the Economic Development Authority and local leadership to finalize the deal, we are thrilled that FMERA’s [Fort Monmouth Economic Revitalization Authority] preferred choice for the Fort Monmouth development project is our proposal for a state-of-the-art production complex,”A spokesperson for Netflix said.
“If our plans are approved, we hope to build a facility that will create significant economic impact and job growth for New Jersey, a state loaded with creative talent and technical expertise.”
A few groups, mainly real estate developers, had also submitted bids.
The parcel of 289 acres would be a close second to Netflix’s biggest production hub in Albuquerque, New Mexico, at 300 acres.