Campbell Soup Company Advances Gateway Office Park Project

Demolition of Long-Abandoned Sears Building Makes Way for Revitalization Plans

CAMDEN, N.J., June 5, 2013 Campbell Soup Company (NYSE:CPB) advanced its efforts to revitalize the City of Camden’s Gateway District with the demolition of the long-abandoned Sears building at 1300 Admiral Wilson Boulevard. The demolition is scheduled to take approximately eight weeks.

Campbell purchased the vacant building for $3.5 million in June 2012 as part of its efforts to develop an office park in the Camden Gateway District which will help attract additional development in the city. Campbell, the State of New Jersey, the County and City of Camden announced plans to develop the area adjacent to the company’s world headquarters in February 2007, with Campbell designated as the master redeveloper of the Gateway Office Park project. Campbell has invested more than $132 million in expanding its headquarters, including the June 2010 opening of an 80,000-square-foot Employee Center and renovations to existing buildings on its campus. As part of that effort, Campbell has invested more than $10 million in acquiring several properties, preparing them for redevelopment and inclusion in the proposed office park.  Below is a summary of news coverage from the event:

NBC10

CBS Philly

KYW Radio

WKXW Radio

WRTI Radio

Philadelphia Inquirer

Long Island Newsday

NJ.com

Newsworks/WHYY

South Jersey Courier Post

AP/The Republic

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