Konica Minolta Consolidating Operations in New Jersey

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Konica Minolta Business Solutions’ current headquarters in Ramsey, 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.

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