The property has been vacant since Agilent, which designs and makes electronic and other monitoring instruments and systems, moved to Palo Alto, CA. The church, meanwhile, is currently based in Montclair, NJ.
No details of the potential sale, including a possible price, have been released. But according to a published report, Christ Church has big plans for the site, including converting the 60 acres occupied by existing buildings in a church headquarters, school facilities and a sanctuary. The rest of the site, according to reports, would be left as open space or converted into recreational facilities.
The potential sale has raised concerns among local officials, according to reports, centered on potential traffic congestion and on tax revenues. According to officials, the property accounts for 2% of this township's tax base, but as a church-owned property would be tax-exempt.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
