Photo courtesy Netflix
FORT MONMOUTH — Netflix officially closed on the purchase of more than 280 acres at the former Fort Monmouth site, clearing a major hurdle for its planned $1 billion film and television production complex.
The company bought the property for $55 million, including land costs, utility contributions and relocation fees. The campus — spanning Oceanport and Eatontown — will feature 12 soundstages, production offices, backlots, support buildings, and public amenities such as retail space and a hotel.
“This milestone allows us to move forward with Netflix Studios Fort Monmouth and the long-term economic opportunities it will create,” said Anne Kelly, the company’s vice president of studio management and services.
Local officials said the project has been years in the making. Eatontown Mayor Anthony Talerico thanked the Fort Monmouth Economic Revitalization Authority for its role in finalizing the sale.
Demolition for the first phase began in May. Netflix expects to open initial stages in 2027, with additional phases following in 2028.
Oceanport and Eatontown both approved long-term payment-in-lieu-of-taxes agreements with Netflix, which are projected to generate tens of millions of dollars for municipal improvements over the next three decades.
Kelly said Netflix looks forward to continuing to work with local and state leaders as the historic Army base is transformed into a modern production hub.
