2B — June 9 - 22, 2017 — New Jersey — M id A tlantic

Real Estate Journal


N ew J ersey

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“We maintain long-term in- volvement in New Jersey and firmly believe that good loca- tions in this dynamic state will always attract corpora- tions and capital,” noted Vision Real Estate Partners’ Sam Morreale, founder and manag- ing partner. “Suburban New Jersey, in particular, provides incredible potential. Over the past several years, we have deepened our foothold here, and successfully leveraged our relationships with partners and municipalities to transform obsolete and underperforming properties into next-generation

workplaces for companies of all shapes and sizes.” Vision Real Estate Partners’ latest acquisition promises that same potential. • The firm’s purchase of 1776 On The Green in Morristown marked its foray into the down- townMorristown office market. Located at 67 Park Place East, the iconic, 150,000 s/f office tower sits on the Morristown Green at the corner of Speed- well Avenue, in the heart of New Jersey’s premier suburban live/work/play CBD. Cushman & Wakefield’s Metropolitan Area Capital Markets Group orchestrated the recent trade from Deutsche Bank Asset Management . Vision Real Estate Partners has been active on the leasing front as well. • The company’s largest lease of the first quarter occurred at the newly acquired 1776 On The Green. Hartford Fire In- surance Group leased 19,699 square feet at the property; CBRE’s Leo Paytas repre- sented the tenant in the long- term transaction. Vision Real Estate Partners is modernizing the 10-story building through lobby and common area up- grades, and the creation of a third-floor amenity lounge with a coffee bar, flat-screen televi- sions and café-style seating. The firm also is collaborating on the adjacent Pioneer Park improvements project. • In Mercer County, three long-term tenant transactions totaling nearly 13,500 square feet closed at Princeton South Corporate Center in Ewing. This included a 6,989 s/f lease by Purdue Pharma (repre- sented by Avison Young’s Ron Ganter), a 4,852 s/f lease by PharmApprove (represented by MWM Group’s Matthew Meade ) and a 1,554 s/f renewal by Stages Pcs LLC (represented by Mercer Oak Realty’s Au- brey Haines ). In a venture with one of its repeat capital partners, Vision Real Estate Partners spearheads the over- all operations for this 268,000 s/f , class A property, which fronts on I-95 at the junction of Rte. 31 (Exit 4). • At Princeton Pike Corpo- rate Center in Lawrenceville, Vision Real Estate Partners orchestrated a 3,500 s/f , long- term renewal with Lee Hecht Harrison at 989 Lenox Dr.; Charles Egele from Mohr Partners represented the tenant. n

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stantial commitments toward sustaining its progress as one of the state’s most active full- service owner/operators.

Commercial Real Estate Brokerage

Sussex, New Jersey 20 Units plus 5 Commercial Joseph Keenan ext 256

Paterson, New Jersey 106 Units plus 2 Stores Don Baxter ext 265

Marlboro, New Jersey 90 Residential Units Daniel Lanni ext 248

Caldwell, New Jersey 15 Units plus 5 Stores Robert Squires ext 287

Caldwell, New Jersey 8 Units plus 4 Stores Robert Squires ext 287

Paterson, New Jersey 56,000 SF Office/Retail Michael Salomon ext 243

www.kislakrealty.com 732 750 3000 The Kislak Company, Inc. Investment Sales Commercial Sales and Leasing

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