FRANKLIN LAKES, NJ—Express Scripts and the Borough of Franklin Lakes have reached an agreement to keep Express Scripts at its Franklin Lakes campus, which currently includes 189 acres on Parsons Pond Drive in Franklin Lakes and more than nine acres in Mahwah.
The agreement, which requires borough council approval, requires the company to donate 84 acres of passive and active recreational parkland to the Borough, changes zoning to accommodate the company's needs going forward, and settles all open tax appeals.
“This agreement, if approved, means that Express Scripts will remain a major corporate citizen in the Franklin Lakes community,” says Tim Wentworth, president of Express Scripts. “In addition, we are pleased that our donation of this parkland will preserve the beauty and recreational space for which the Borough is known, and that so many of our employees enjoy.”
The property was the corporate headquarters of Medco Health Solutions until Express Scripts acquired Medco in 2012. With a local staff that continues to exceed 2,000, Express Scripts is currently ranked #22 on the Fortune 500 list.
Express Scripts' property contains office buildings, parking lots, a day care facility, a recreation building, fields and courts, a maintenance facility and open space which includes a pond, streams, walking paths and natural woods.
“First and foremost, we are very pleased that Express Scripts will be remaining in the Borough and that they have demonstrated a great willingness to work with us on a plan that is so beneficial to both sides,” says Mayor Frank Bivona. “They are an important employer in this area and have been a good corporate citizen and this proposal reinforces their commitment to Franklin Lakes and the surrounding areas. In addition, we will be gaining another beautiful park and recreation facility, which will benefit our residents in so many ways. We feel most fortunate for this unique opportunity.”
The agreement is conditioned upon formal approval by the Borough and by Express Scripts, the subdivision of the property, and “due diligence” inspections by the Borough. A resolution approving the agreement by the Franklin Lakes Mayor and Council is scheduled for consideration at its September 1, 2015 meeting.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
