TIME TO MAKE THE DONUTS
Pending sale of Trentonian building will pave way for 170 new jobs in city
TRENTON >> It’s time to make the donuts in the capital city.
Trenton Mayor Eric Jackson announced Tuesday afternoon at a MIDJersey Chamber of Commerce event that a company that makes doughnuts, Munchkins and other goods for Dunkin’ Donuts will be purchasing The
Trentonian office building on Perry Street.
“They’re planning to create almost 200 new jobs in our city,” the mayor said at the Trenton Wyndham. “When Trenton attracts new business and jobs our local economy is stronger, people go to work and our city gets stronger.” Company officials told
Trentonian that all the hires will be local.
The deal is currently being finalized, Central Jersey CML officials said.
“We’re hopeful to start construction in the spring,” CML Chief Operating Officer Alex McCourt said. “The latter part of 2017, we would like to open up.”
The asking price of the property is $2 million. The purchase includes the building at 600 Perry Street and an adjacent warehouse at 39 Escher St.
“We’re actually going to use the existing structure and then the building on Escher Street, we’re going to connect that with the bakery,” McCourt said.
The deal was made possible by tax credits approved by the New Jersey Economic Development Authority on Friday. Central Jersey CML was awarded approximately $18.9 million in tax credits over a 10-year period to locate to Trenton and create 171 jobs.
Trentonian management
said the tax credit was the “first step of many steps” of a commercial real estate transaction. The property is owned by Twenty Lake Holdings, a subsidiary of Alden Global Capital. Alden Global owns Digital First Media, the parent company of The Trentonian.
“Nothing is finalized but the process has begun,” Trentonian editor John Berry said. “If the deal was to be finalized, they’re expecting it to be done by the end of the year.”
Twenty Lake did not reply to a request for comment.
CML also operates a facility in South Jersey, which was visited recently by MIDJersey President and CEO Bob Prunetti and the mayor.
Prunetti said that McCourt is dedicated to hiring and training people.
“This is a model business for Trenton,” Prunetti said. “(McCourt) showed me down at his plant where he took some people who have challenges: alcoholism and drug addiction. He actually took
them off the street, trained them, put them to work and now they’re some of your best employees.”
“And some of my managers,” McCourt added.
Jackson said he was also impressed with the South Jersey plant.
“I had a chance to have a conversations with the staff, who were delighted at the opportunity for the jobs that pay a good wage,” the mayor said. “They said the management treats them well, so I’m looking forward to having that here where we can have local hires.” The Trentonian moved into its Perry Street location on July 26, 1965. Presently, the newspaper’s staff only
occupies 25 percent of the building.
As for relocation of the offices, the company is exploring all options.
“We will always have a physical presence in Trenton,” Berry said.
The new baking facility will supply Dunkin’ Donuts throughout the Central Jersey region and into Bucks County, Pa.
Coincidentally, the doughnut maker will be next door to police headquarters, which has already generated many jokes between city and business leaders.
“That’s on purpose,” one man joked. “And they could supply the police with doughnuts on a regular basis.”