Konica Minolta Consolidating Operations in New Jersey
Commercial Property Executive reports that Konica Minolta Business Solutions U.S.A. is consolidating its U.S. operations into a single campus, starting with the sale of its current headquarters at 100 Williams Drive in Ramsey, New Jersey. Konica Minolta sold the 106,400-square-foot property to LCN Capital Partners through a sale-leaseback.
The firm also paid $20.2 million to acquire the nearby 133 Williams Drive, a 171,500-square-foot industrial park, from Prestige Motors. The building will house Konica Minolta’s warehouse operations that are currently located at 101 Williams Drive, an 85,000-square-foot warehouse and office property. The facility is set to undergo a 52,000-square-foot office and parking expansion.
Konica Minolta received $29 million in “Grow New Jersey” tax credits. After it’s completed upgrading the new facility, Konica plans to add 400 new jobs at the campus, as well as relocate its administrative and distribution operations from Windsor, Connecticut.
According to The Hour, the firm will eliminate 430 jobs at its Windsor, Connecticut facility beginning in mid-July 2018, but will offer workers the option to relocate to its new location in Ramsey.
Konica Minolta Business established its location in Ramsey, New Jersey, in the early 1970s.
- December 2017: Konica Minolta Expanding Corporate Campus in Ramsey, New Jersey
- November 2017: Konica Minolta Said to Be Closing Connecticut Facility, Transferring Employees
- October 2017: Konica Minolta Reports Much-Improved Financial Results for Six Months
- October 2017: Konica Minolta Shows New ECM, IT Solutions at Dealer Conference
- September 2017: Konica Minolta Continues Expansion into Healthcare Tech with Invicro Acquisition
- August 2017: Marking 30th Anniversary, Konica Minolta Business Solutions U.S.A. Acquires Muratec America
- July 2017: Growth Slows for Konica Minolta in First Quarter
- July 2017: Konica Minolta Enters Telephony Market with Acquisition of TLS.NET