-- Demand Momentum Coincides with Amenity-focused Capital Improvement Program --
FLORHAM PARK, N.J., June 19, 2018 – A series of long-term lease commitments reflects Florham Park Corporate Center’s heightened profile as a value play for regional tenants. As exclusive agent, Colliers International NJ LLC Inc. (NASDAQ:CIGI, TSX:CIG) has announced nearly 19,000 square feet of new leases and a lease expansion at the two-building, 230,000-square-foot office campus in Florham Park. The recent activity coincides with the completion of an amenity-focused capital improvement program.
Richard J. Madison, Richard Mirliss, Alex Vitro and Jack Callahan, based in Colliers International’s Parsippany, N.J., office, head the Florham Park Corporate Center leasing team on behalf of the property’s ownership, a joint venture of Bergman Real Estate Group and Rialto Capital Management, LLC.
The team secured four new tenants, including Hilb Group, represented by Cushman & Wakefield’s Curtis Foster and Jerry Shifrin; Rayfield & Licata, represented by Paul Steinbock of American Properties Realty, Inc.; Hutchison MediPharma, represented by Savills Studley’s Carey Puzo; and Piemonte and Liebhauser. Bergman Management headed a renewal/ expansion for Florham Park Wealth Advisors and a new lease by SAG Management, LLC.
“We are seeing tangible demand and leasing momentum at Florham Park Corporate Center,” Callahan noted. “Both buildings have always been well positioned within the market in terms of value and amenities. The latest improvements have elevated its appeal as a live/work/play atmosphere. The level of interest and completed transactions has already justified the investment made by ownership.”
The property’s new, 3,500-square-foot fitness center, which opened in February, is a central component of the renovation work. It includes a yoga studio, lounge and game room, along with cardio and weight training equipment, and men’s and women’s locker rooms with showers. More than 200 employees of tenants at the property signed up to use the facility in the first week.
In addition to the new gym, tenants have access to a shared conference and training center, full service café with seating, new landscaping along the outdoor courtyard, dry cleaning service, an on-site car wash and an app-based biking sharing program. The ownership is gearing up to renovate Florham Park Corporate Center’s common areas and three-story atrium lobbies as well, with changes focused on creating an updated lounge aesthetic.
Located at 25 A&B Vreeland Road, Florham Park Corporate Center features a tranquil, 14-acre campus setting and highly flexible floor plates. Florham Park Corporate Center can accommodate wide-ranging tenant requirements, from 3,000 square feet to 27,000 square feet on a single floor – a distinguishing quality in the local market.
Conveniently located just three miles from Morristown Airport, 16 miles from Newark Airport and 27 miles from Midtown Manhattan, Florham Park Corporate Center offers easy access to Columbia Turnpike, routes 10 and 24, and interstates 78, 280 and 287. The property is proximate to the Livingston Mall, the Mall at Short Hills, and Marriott, Hilton and Ramada hotels.
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About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
About Bergman Real Estate Group
Founded in 1988, Bergman Real Estate Group is a privately owned, full-service real estate investment and management company, with 30 years of operating history in New Jersey and other select markets. The company’s fully integrated platform includes acquisition, ownership, asset and property management, leasing and construction supervision. Bergman, which has built its success on acquiring and successfully repositioning underperforming properties, currently owns and manages 18 office buildings comprising 2.25 million square feet. For more information, visit http://www.bergmanrealty.com
For further information, please contact:
Evelyn Weiss Francisco, Vice President