12C — March 27 - April 9, 2020 — The Best of 2019 — M id A tlantic Real Estate Journal
The LARGEST OFFICE LEASE of 2019
Vision Real Estate Partners Warren Corporate Center Warren, New Jersey
Stockton Real Estate Advisors, LLC 4 Penn Center Philadelphia, PA
Sheldon Gross Realty, Inc. Ridge Corporate Center Park Ridge, New Jersey
Size: 315,086 SF Brokers: Landlord
Size: 173,007 SF Brokers: Michael Dolan
Robert Donnelly, Cushman & Wakefield Robert Donnelly Jr., Cushman & Wakefield Tenant
The General Services Administration executed a 15-year lease for the Environmental ProtectionAgent (EPA) to lease 173,007 rsf on a portion of the first floor, floors 1 through 6 and the 19th/20th floors at Four Penn Center in Philadel - phia. Securing the EPA catapulted the building occupancy to 93.47% leased. This means the EPA will leave its long - time home of 1650 Arch St., where it has been since 1998. Four Penn Center is a class A property located at 1600 John F. Kennedy Blvd. The GSA joins the blue chip roster of ten - ants such as RELX, Post & Schell and Bank Of America.
Jeff Babikian, CBRE Eric Deutsch, CBRE
Everest Reinsurance’s 315,086 SF, 16-year lease to relocate its corporate headquarters to Warren Corporate Center in Warren, N.J., signals a new model for success in today’s evolving office landscape. The deal didn’t merely set a new record in 2019 it was among the top ten largest office leases in the Northern New Jersey market over the past decade. But with the rise of telecommuting and following nearly stagnant office leasing during the first half of 2019, it also shows the significance of providing a unique experience at office.
Size: 111,000 SF Brokers: Robert Nathin
Promotion In Motion, a manufacturer of fruit snacks, fruit rolls and other snack food products will relocate its corporate headquarters to Park Ridge from Allen - dale, NJ.
The Most UNIQUE INNOVATIVE TENANT AMENITY SPACE FOR OFFICE COMPLEX of 2019 Alfred Sanzari
Kinsley Construction, Inc. MOI at McHenry Row Baltimore, MD
Bergman RE Group & Time Equities, Inc. Jefferson Exchange
Glenpointe Teaneck, NJ
Location: 100/110 South Jefferson Road, Whippany, NJ Size: 2 – 3 story class Aoffice buildings totaling 172,000 SF Owners: Bergman Real Estate Group and Time Equities Bergman Real Estate Group and Time Equities built a 8,400 SF lounge and The Quad - Coworking Space at Jefferson Exchange in Whippany, NJ. • A 3,000 SF executive lounge with a staffed espresso bar • Seating areas outfitted with modern, comfortable furniture and shared workspace • The Quad – 13 Co-working executive suites with glass walls sized for startups and entrepreneurs to fit 1-6 people. Fully fur - nished for short term rentals. Total coworking area is 3,700 SF. • Upgraded full service Café with new seating and décor • A fully-equipped gym with lockers and shower room • Shared conference and training center which tenants can use for large meetings, training sessions and more with multimedia equipment • An art studio with instruction from local artists • Game area with ping-pong and pool tables and seating areas • Massage room with licensed masseuse • Nursing room • An app-based bike-sharing program which tenants can use to ride to lunch or travel around Jefferson Exchange campus • Newly landscaped grounds with walking paths and outdoor seating areas • Art in Buildings program
Size: 670,000 SF; 50 acres Brokers: Jeff Schotz, Peter Rossi, Dan Reider, David Simson, Newmark Knight Frank To enhance Glenpointe’s tenant experience, Alfred Sanzari Enterprises partnered with Better Spaces, a technology- driven tenant engagement platform. The service operates out of a 1,500 SF community lounge “The Pointe,” and other shared spaces accessible via the Better Spaces app, which is the “key” to unlock amenity space, sign up for programs, and book private rooms. Featuring robust programming cu - rated by an on-site community management staff, activities range from ping pong tournaments to yoga, art shows, chair massages, nature hikes and more. The platform also provides measurable data to predict tenant satisfaction and retention in the critical years of a lease.
Kinsley delivered the fit-out of this 13,000 SF space to create MOI’s new corporate headquarters. The space also houses a public-facing, highly flexible furniture showroom which displays a number of features for collaborative spaces, technology integration and cus - tom working environments. To fit their modular office components and innovative DIRTT interior wall sys - tem in the existing space, we worked closely with Fox Architects and DIRTT and used BIM 3D coordination to shift the building’s MEP systems. The project won an AIA Baltimore People’s Choice Award.
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