What The Connell Company does

The Connell Company is a privately held, family-owned diversified operator founded in 1926 and headquartered in Berkeley Heights, NJ. The company operates three core businesses: Connell Real Estate & Development Company, which owns and develops The Park — a 185-acre mixed-use campus with 1.5 million sq ft of Class A office space, 44,000 sq ft of coworking (Round Table Studios), 300,000 sq ft of retail and entertainment, and a growing multifamily residential portfolio including RT500 and RT600; Connell Hospitality (Table & Banter), which runs on-campus concepts including Grain & Cane restaurant, FIELDHOUSE wellness club, an Embassy Suites by Hilton hotel, and catering/event programming; and Connell Equipment Leasing Company (CELCO), one of the largest independent lessors of material handling equipment in the United States, with 15,000+ pieces under lease across 11 countries and $100M+ in annual equipment purchases.

The company makes money primarily through recurring long-duration income streams: commercial office and multifamily rent, equipment lease payments from corporate customers in logistics, construction, rail, marine, and manufacturing, and on-site hospitality services. The model is intentionally low-leverage — CELCO reached a $1B cumulative leasing milestone in 2012 without any debt, and the broader Connell portfolio is self-financed. GTM is relationship-driven and direct, with no software platform, app, or disclosed AI/ML capabilities; the company's value proposition rests on hard-asset ownership, long-horizon capital allocation across five generations of family management, and vertically integrated hospitality operations that differentiate its real estate from peer suburban office landlords.

Underlying technology is essentially non-proprietary — there is no indication of custom software, AI/ML systems, patents, or data products across the three divisions; operational differentiation comes from the physical asset base, the campus ecosystem, and the self-financed equipment leasing book rather than from technology platforms.

Name

The Connell Company

Legal name

The Connell Company

Website

https://connellco.com

Company type

Private

Founded year

1926

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate (mixed-use development, multifamily, and equipment leasing)

NAICS

Real Estate and Rental and Leasing (53), Real Estate Property Managers (53131), Hotels (except Casino Hotels) and Motels (72111), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510), Hotels & Motels (7011), Services-Equipment Rental & Leasing, Nec (7359)

akta.pro primary industry

Co-Living Property Management (BPAJAFAJ)

akta.pro secondary industry

Executive & VIP Corporate Housing (THAMAHAF)

Keywords

• Commercial real estate leasing
• Luxury multifamily rentals
• Equipment leasing services
• Mixed-use property development
• Hospitality management services

Headquarters

HQ city

Berkeley Heights

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Real Estate Leasing: Long-term leasing of Class A office space at The Park in Berkeley Heights, NJ, with approximately 1.5 million square feet of commercial office space generating recurring rental income.
2. Multifamily Residential Leasing: Luxury apartment leasing through owned multifamily properties across strategic U.S. markets (Seattle, Denver, Scottsdale, Houston, Dallas) and new RT Residences at The Park in Berkeley Heights.
3. Equipment Leasing: Middle-market equipment leasing through Connell Equipment Leasing Company (CELCO), leasing material handling equipment (forklifts), construction equipment, rail equipment, marine assets, and manufacturing equipment globally. CELCO is one of the largest independent lessors of material handling equipment with over $100 million in annual equipment purchases.
4. Hospitality Services: On-site hotel operations (Embassy Suites by Hilton Berkeley Heights), restaurant concepts (Grain & Cane, Table & Banter), wellness facilities (FIELDHOUSE), event spaces, and catering services operated through Table & Banter Hospitality.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

The Connell Company operates three integrated businesses: (1) Connell Real Estate & Development Co., which owns and operates The Park — a 185-acre mixed-use campus in Berkeley Heights, NJ with 1.5M sq ft of Class A office space, coworking, retail, and luxury residential towers; (2) a luxury multifamily residential portfolio across U.S. growth markets (Seattle, Denver, Scottsdale, Houston, Dallas); and (3) Connell Equipment Leasing Company (CELCO), one of the largest independent lessors of material handling, construction, rail, marine, and manufacturing equipment. Hospitality operations (Table & Banter) complement the real estate platform with restaurants, coworking, wellness, and an on-campus Hilton hotel.

Product overview

The Connell Company is a privately-owned real estate, hospitality, and equipment leasing firm organized into three main divisions. Connell Real Estate & Development Co. operates The Park, a 185-acre mixed-use campus in Berkeley Heights, NJ featuring Class A office space, coworking (Round Table Studios), retail/entertainment, and residential towers (RT500, RT600). Connell Hospitality operates Table & Banter Hospitality, managing food and beverage concepts including Grain & Cane restaurant, FIELDHOUSE wellness club, Embassy Suites hotel, and coworking/social spaces. The multifamily portfolio includes luxury properties across the US: The TOMSCOT (Scottsdale), Domain West (Houston), Solera (Denver), Riviera at West Village (Dallas), Ten Wine Lofts (Scottsdale), The Goodwin (Seattle), and 1611 On Lake Union (Seattle). Connell Equipment Leasing Company (CELCO) is one of the nation's largest independent lessors of material handling equipment with 15,000+ pieces under lease.

Differentiator

Problem solved

Functional benefit

Brands

• The Park: 185-acre mixed-use campus in Berkeley Heights, NJ featuring Class A office space, coworking (Round Table Studios), retail, dining, hotel (Embassy Suites), and residential apartments (RT500, RT600).
• Table & Banter
• Round Table Studios
• Grain & Cane
• FIELDHOUSE
• Embassy Suites by Hilton Berkeley Heights

Products and services

• The Park (mixed-use campus) 185-acre mixed-use campus in Berkeley Heights, NJ featuring 1.5 million sq ft of Class A office space, 44,000 sq ft of coworking/social club space (Round Table Studios), 300,000 sq ft of retail/entertainment, and 10+ acres of outdoor parks and trails. Leased to corporate office tenants and home to the company's hospitality and residential concepts.
• RT Residences (RT500 and RT600 luxury towers) Two luxury residential towers at The Park offering resort-style amenities including rooftop pool, fitness center, co-working spaces, game rooms, and elevated workspaces. RT500 has 179 units and RT600 has 149 units. Property management for RT500 is delivered through Greystar.
• Connell Equipment Leasing Company (CELCO) One of the nation's largest independent lessors of material handling equipment, providing single-investor fair market value (FMV) lease financing for forklifts, construction equipment, rail equipment, marine vessels, CNC manufacturing equipment, and related assets globally. 15,000+ pieces on lease; $100+ million in annual equipment purchases.
• The TOMSCOT Luxury apartment community with 278 units near Old Town Scottsdale, AZ featuring two courtyards with resort-style pool decks, state-of-the-art fitness center, and golf simulator room.
• Domain West Luxury apartment community with 333 units in Houston's energy corridor near CityCentre, featuring three activity courtyards, a resort-style pool deck, two dog parks, clubroom, arcade room, and fitness center.
• Solera Boutique luxury sustainable high-rise with 120 units in Denver's LODO district; Downtown Denver's first LEED Gold-certified apartment building, with quartz countertops, floor-to-ceiling windows, and a rooftop spa.
• Riviera at West Village Urban midrise community with 150 units in West Village, Uptown Dallas, featuring open floor plans, fireplaces, granite countertops, and proximity to boutiques, restaurants, and the Katy Trail.
• Ten Wine Lofts Boutique condominium-style community with 82 units in Old Town Scottsdale, AZ, featuring oversized balcony/patio, open floor plan, refrigerated wine storage, and gourmet kitchen.
• The Goodwin Boutique urban luxury condominium-style community with 34 units in Seattle's Belltown neighborhood, recently renovated with condo-level luxury finishes and floor-to-ceiling windows.
• 1611 On Lake Union Boutique lakeside living community with 55 units in Seattle's Westlake location, featuring homes with intelligent design, upgraded finishes, and views of Lake Union.
• Table & Banter Hospitality Owned and operated hospitality and experience arm of The Connell Company encompassing restaurants (Grain & Cane, Rosa Azul), cafes and markets (Table & Banter Cafes & Markets), catering and events (Table & Banter Catering & Events), Emberside Brewery, BASH, and FIELDHOUSE wellness.
• Grain & Cane Bar & Table The Park's first on-campus restaurant concept inspired by family tradition, featuring locally-sourced ingredients and seasonally-inspired menus.
• Round Table Studios 44,000 sq ft of coworking and social club space at The Park where members can work, socialize, and dine in spaces tailored for a well-balanced life.
• FIELDHOUSE Wellness club at The Park featuring an open gym, yoga and boxing studio, meditation room, Pilates room, recovery and nap rooms, and a game and coworking lounge.
• Embassy Suites by Hilton Berkeley Heights On-campus hotel at The Park in Berkeley Heights, NJ, operated under the Embassy Suites by Hilton brand, specially designed to serve Park guests and visitors.
• Table & Banter Catering & Events Full-service catering and event programming for The Park campus and external venues, delivered through the Table & Banter Hospitality group.

Quantifiable outcome

• $1 billion of equipment acquired and leased by 2012 without the use of any debt
• +1 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• GreystarcoreChannel Partner/ Reseller/ Distributor · 20 June 2026Greystar serves as the property manager for RT500, an 11-story, 179-unit luxury apartment tower at The Park in Berkeley Heights, NJ. Greystar handles all residential leasing operations and property management for the resort-style amenity tower with move-ins starting August 1, 2026.
• Minno & Wasko Architects and PlannerscoreStrategic or Co-development Partner · 9 June 2026Architecture firm collaborated with David M. Sullivan Inc. to design RT500, an eleven-story luxury residential tower with 179 units at The Park in Berkeley Heights, NJ. The tower features resort-style amenities including rooftop pool, fitness center, and co-working spaces.
• David M. Sullivan Inc.coreStrategic or Co-development Partner · 9 June 2026Interior design and architecture firm collaborated with Minno & Wasko Architects and Planners to design RT500 luxury residential tower at The Park in Berkeley Heights, NJ.
• BoschettominorChannel Partner/ Reseller/ Distributor · 23 April 2026Montclair-based regional Italian restaurant securing a lease for second location at The District at The Park in Berkeley Heights, NJ. The 3,600 sq ft location with 100-person capacity nearly doubles the original Montclair venue size, opening Fall 2026.
• Emberside BreweryminorChannel Partner/ Reseller/ Distributor · 2 December 2025Craft brewery opening 2026 at The Park in Berkeley Heights, NJ. Tom Nielsen appointed as Director of Brewery Operations with over 20 years of brewing experience. Positioned as community hub for craft beer, connection, and local flavor.
• Table & Banter HospitalitycoreStrategic or Co-development PartnerThe Connell Company's owned and operated hospitality and experience arm, created to enrich places where people work, live, and gather. Includes Grain & Cane restaurant, Table & Banter Cafes & Markets, Catering & Events, Cafe Exchange, Emberside Brewery, BASH, Rosa Azul Mexidiner, and Rosa Azul Taqueria concepts.
• Round Table StudioscoreChannel Partner/ Reseller/ DistributorCoworking and social club space at The Park featuring spaces for work, socializing, and dining tailored for well-balanced life. Part of 44,000 sq ft coworking/social club footprint.
• Embassy Suites by HiltoncoreChannel Partner/ Reseller/ DistributorOn-campus hotel at The Park in Berkeley Heights, NJ. Specially designed hotel property serving The Park campus guests and visitors.
• FIELDHOUSEcoreChannel Partner/ Reseller/ DistributorWellness club at The Park featuring open gym, yoga and boxing studio, meditation room, Pilates room, recovery and nap rooms, game and coworking lounge.
• Clark Material HandlingminorStrategic or Co-development PartnerIn 1982, Connell Finance Company entered a joint venture with Clark Material Handling to provide lease financing to Clark's forklift customers. This program led to the creation of Connell Equipment Leasing Company (CELCO) as a separate division in 1997.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• The Irvine Company: Privately held, family-owned diversified real estate company operating large mixed-use campuses with hospitality-driven amenities and luxury multifamily—philosophically the closest analog to Connell's vertically integrated, hospitality-first real estate approach.
• Vornado Realty Trust: Public REIT focused on Class A office and high-end mixed-use assets in select gateway markets—directly comparable to Connell's 1.5M sq ft Class A office portfolio and trophy mixed-use repositioning strategy.
• Boston Properties: National Class A office and mixed-use developer/operator with premium urban and suburban campuses—comparable in product quality, tenant profile (financial services, tech), and mixed-use repositioning expertise.
• Greystar Real Estate Partners: Largest US multifamily operator and Connell's RT500/RT600 property management partner—directly comparable for luxury multifamily operations, lease-up execution, and national portfolio scaling in Connell's target markets.
• AvalonBay Communities: Public multifamily REIT with luxury Class A rental communities in high-growth coastal and Sun Belt markets—directly comparable to Connell's Seattle, Denver, Scottsdale, Houston, and Dallas luxury portfolio.
• Kilroy Realty: West Coast-focused Class A office and life sciences REIT—comparable to Connell's Class A suburban office strategy and trophy mixed-use repositioning playbook.
• Essex Property Trust: Multifamily REIT focused on West Coast luxury rental housing—comparable to Connell's Seattle/Scottsdale luxury portfolio and premium rent positioning in supply-constrained markets.
• DLL Group: Global vendor finance and equipment leasing company for material handling, construction, and industrial equipment—directly comparable to Connell's CELCO business in product mix and middle-market customer focus.

Broad incumbents

• Brookfield Asset Management: Large-scale alternative asset manager with significant real estate, infrastructure, and equipment/credit exposure—comparable in diversified real asset strategy and long-duration ownership philosophy.

Others

• Hilton Worldwide: Owner of the Embassy Suites brand used by Connell's on-campus hotel—relevant as the franchisor of Connell's lodging operation and comparable for full-service, suite-style suburban business-traveler positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/the-connell-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Connell Company