Fort Monmouth Redevelopment and the Transformation of Monmouth County Real Estate

The Fort Monmouth redevelopment has entered its execution phase, and it is repositioning the broader Monmouth County real estate market. When Netflix and the Fort Monmouth Economic Revitalization Authority closed on the 292-acre Mega Parcel in December 2025, the transaction did more than hand over a deed. It marked the moment Fort Monmouth stopped being a story about what could be built in Monmouth County and turned into a story about what is being built right now. For developers, investors, and businesses evaluating where to deploy capital in the New Jersey and New York metropolitan markets, the Fort Monmouth redevelopment warrants careful attention, and the broader Monmouth County real estate market warrants a fresh look.

For nearly 15 years, Fort Monmouth sat at the center of one of the largest base-to-civilian redevelopment efforts in New Jersey history. The property covers 1,126 acres across the Monmouth County municipalities of Tinton Falls, Eatontown, and Oceanport. FMERA, the state authority created to guide the property’s reuse after the Army closed the installation in 2011, has transformed the site from vacant military land into a mixed-use district where, according to FMERA, nearly 86 percent of parcels are now under contract or have been redeveloped. Residential development is approaching its Reuse Plan cap of 1,585 units, with fewer than 250 units remaining. Those numbers matter because they signal a maturing redevelopment program, not one seeking momentum.

The Netflix Anchor: A $1 Billion Investment in Monmouth County

The Netflix transaction is the most visible validation of Monmouth County’s trajectory, and its scale is worth spelling out. Netflix has committed approximately $1 billion to transform the Mega Parcel into Netflix Studios Fort Monmouth, a production campus of 12 soundstages totaling nearly 500,000 square feet. When complete, it will be the company’s second-largest production facility in the country, behind only its Albuquerque campus. The structures for the first four soundstages are up, and the facility is expected to open in Oceanport in 2027, with the remaining eight soundstages opening across Eatontown by the end of 2028.

The project’s governing framework is already in place. Amendment 20 to the Fort Monmouth Reuse and Redevelopment Plan, the master document governing the Netflix development, lays out the phased construction sequence, preservation obligations, and land-use requirements, providing both Netflix and the surrounding municipalities with a clear operating map. Demolition of the former Army buildings on the Main Post, which began in the spring of 2025, has cleared the way for vertical construction, with select historic structures preserved for reuse on the studio campus.

The financial footprint follows the physical one. Netflix has estimated that the facility will create up to 1,500 permanent jobs once fully operational, with up to 3,528 construction jobs at its peak. Monmouth County officials have projected a statewide economic impact of up to $4 billion over the life of the project. In February 2026, Netflix posted its first studio operations roles at the property, and several positions have already been filled, a milestone that matters less for the individual hires than for what it signals: the project is past the point of being theoretical.

Why the Public-Private Structure Matters to Real Estate Investors

Redevelopment projects of this complexity live or die on coordination. The Fort Monmouth effort required extensive approvals across zoning, environmental remediation, tax agreements, traffic, utilities, and historic preservation, as well as coordination among three separate municipalities, county government, and multiple federal agencies, including the U.S. Army and the Army Corps of Engineers. At the December 2025 closing ceremony in Oceanport, state and local officials repeatedly emphasized that the project stayed on schedule, unlike many other FMERA projects, which have required repeated extensions.

For developers and investors, that track record carries real meaning. When a $1 billion anchor tenant moves through FMERA’s approval and closing process on schedule, it establishes a baseline. It tells the market that sophisticated capital can deploy at Fort Monmouth without the open-ended timeline risk that has historically slowed comparable adaptive reuse projects in the region.

The Ripple Impact Across Monmouth County Real Estate

Anchor investments of this scale reshape the markets around them, and the early indicators for Monmouth County real estate are strong. A production campus the size of Netflix Studios Fort Monmouth creates sustained demand for flex and industrial space to house production vendors, equipment rental operations, set construction, and post-production services. It drives hospitality demand for cast, crew, and executives cycling through productions. It creates workforce housing needs at multiple price points, from entry-level technicians to senior creative talent. It supports professional services firms across accounting, insurance, legal, and technology. And it generates retail and dining demand in the surrounding communities of Oceanport, Eatontown, and Tinton Falls, as well as in the broader Red Bank and Long Branch corridors.

Monmouth County was well-positioned for this kind of investment before Netflix arrived. The region provides a one-seat train ride to midtown Manhattan, access to four international airports, a diverse and well-educated workforce, and the Jersey Shore quality of life that has made towns like Red Bank, Asbury Park, and Long Branch magnets for residents and businesses alike. What Netflix adds is a catalyst, a reason for companies that might have looked at other New Jersey submarkets to take a harder look at Monmouth County.

The signs of that interest are already visible in FMERA’s pipeline. In June 2025, the Borough of Oceanport authorized its Planning Board to study a section of Fort Monmouth as a potential Area in Need of Redevelopment under the Local Redevelopment and Housing Law. This designation opens the door to additional redevelopment tools. Monmouth Medical Center’s expansion at the former Patterson Army Hospital site is advancing through its next phase. Residential and mixed-use parcels continue to close. These are not isolated transactions. They are the connective tissue of a county-wide repositioning.

What Sophisticated Investors Should Be Watching

Three dynamics deserve close attention over the next 18 to 24 months.

First, the adjacent submarkets. The impact of Netflix will not be confined to the 292-acre parcel. Industrial, flex, hospitality, and multifamily properties within a reasonable radius of the campus will see pressure as production vendors and support businesses locate near their anchor client. Investors who understand these adjacencies will have an information advantage.

Second, the remaining FMERA parcels. With the fort nearing its residential cap and commercial parcels moving steadily, the pool of available opportunities at the fort itself is narrowing. The parcels that remain, and the terms under which they are released, will matter more in a market where Fort Monmouth is now a known commodity rather than a speculative one.

Third, the municipal redevelopment frameworks. Oceanport’s pending Area in Need of Redevelopment study, Eatontown’s ongoing redevelopment plan work, and related municipal planning initiatives across Monmouth County will shape where the next wave of projects gets built. Investors and developers who engage early in these processes will be better positioned than those who wait until plans are finished.

A Different Kind of Redevelopment Story

Every few years, a New Jersey redevelopment project captures the market’s attention. Fort Monmouth is different. It is not a single building or a single block. It is a thousand-acre transformation taking place across three municipalities, anchored by a major studio investment, backed by a state authority with 15 years of operational experience, and surrounded by communities that have clearly signaled their desire for further investment.

For developers evaluating the New Jersey and New York metropolitan market, the question is no longer whether Monmouth County is an opportunity worth studying. The question is how quickly and how strategically to engage. The businesses that will benefit most from Fort Monmouth’s next chapter are those that move now, while adjacencies are still defining themselves and opportunities remain broad.

The transformation underway in Monmouth County is the kind that rewards preparation. For developers, investors, and businesses evaluating where to engage, the next 24 months will separate those who treat Fort Monmouth as a case study from those who treat it as a market.

Frequently Asked Questions About Fort Monmouth and Monmouth County Real Estate

What is the Fort Monmouth redevelopment project?

Fort Monmouth is a 1,126-acre former U.S. Army installation spanning the Monmouth County municipalities of Tinton Falls, Eatontown, and Oceanport. Since the base closed in 2011, the Fort Monmouth Economic Revitalization Authority (FMERA) has guided the base’s transformation into a mixed-use district. Nearly 86 percent of the property is now under contract or redeveloped, with residential, commercial, and adaptive-reuse projects across the three municipalities.

How much is Netflix investing in Fort Monmouth?

Netflix has committed approximately $1 billion to develop Netflix Studios Fort Monmouth on a 292-acre parcel. The campus will feature 12 soundstages totaling nearly 500,000 square feet and, when complete, will be the company’s second-largest production facility in the United States. Phase one opens in Oceanport in 2027, with full completion expected by the end of 2028.

What is the economic impact of Netflix Studios Fort Monmouth on Monmouth County?

Monmouth County officials have projected a statewide economic impact of up to $4 billion over the life of the project. The studio is expected to create up to 1,500 permanent jobs and as many as 3,528 construction jobs at peak, along with indirect demand for hospitality, flex and industrial space, housing, retail, and professional services across the county.

Why is Monmouth County attractive to commercial real estate investors?

Monmouth County offers a one-seat train ride to midtown Manhattan, access to four international airports, an educated workforce, and a quality of life that has drawn both residents and businesses to towns like Red Bank, Asbury Park, and Long Branch. The Fort Monmouth redevelopment, anchored by Netflix, is accelerating demand throughout multiple property types and submarkets.

What should investors watch at Fort Monmouth over the next two years?

Three dynamics stand out: the adjacent submarkets absorbing demand from production vendors and support businesses, the remaining FMERA parcels as the fort nears its residential cap, and the municipal redevelopment frameworks emerging in Oceanport, Eatontown, and surrounding communities.

How Scarinci Hollenbeck Can Help

Donald M. Pepe is a Partner in Scarinci Hollenbeck’s Real Estate, Land Use and Development Group and practices out of the firm’s Red Bank office in Monmouth County. He advises developers, property owners, and institutional investors on commercial real estate transactions, redevelopment projects, and land-use matters throughout Monmouth County, New Jersey, and the wider New Jersey and New York metropolitan markets. He has been named to ROI-NJ’s Influencers: Real Estate list every year since 2022 and was recognized as a 2025 Influencer in Industrial Real Estate by GlobeSt. To discuss a Monmouth County real estate matter, contact Donald Pepe at Scarinci Hollenbeck’s Red Bank office.