14B — June 26 - July 16, 2020 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
Major renovations for 1 Tower in East Brunswick, NJ generate leasing Velocity American Equity Partners and NKF announce plans for a newly revamped 1 Tower Center E building.
AST BRUNSWICK, NJ — American Eq- uity Partners and Newmark Knight Frank (NKF) announced the plans for a newly revamped 1 Tower Center in East Brunswick, as well as 16,000 s/f of recent office leasing momentum. Property owners American Equity Partners have a strong track record of deliver- ing high-quality commercial office space and had selected Newmark Knight Frank's Jamie Drummond, Andrew Perrotti, Dan Reider, Steve Tolkach and AdamSilver as the office leasing agents of the
1 Tower Center is a class A, 24-story building spanning 415,000 s/f that is part of a 14-acre mixed-used suburban office complex. Available office offerings can accommodate users needing anywhere from 3,000 to over 200,000 s/f of space. The well-located asset offers immediate access to Rte. 18 and the NJ Tpke. American Equity Partners is planning a $6+ million capital improvement program for 1 Tower Center. The proposed renovations include a new HVAC system, upgraded me- chanicals, common areas, and a new state-of-the-art tenant amenities center on the 15th floor. The property has seen a recent spike in office leasing transactions with NKF rep- resenting the landlord. Pru- dential Insurance Company renewed its 10,000 s/f lease represented by JLL's Jodie Matthews and The Siegfried Group signed a new 6,000 SF long-term lease represented by Cresa's Dennis Gralla and Jim Scancarella . TRP breaks ground on redevelopment of West Broad St. property in Scott’s Addition in VA
1 Tower Center
RICHMOND, VA — Thal- himer Realty Partners, Inc. (TRP) announced plans for the redevelopment of 3407 West Broad St. in Scotts Addi- tion. The .58-acre site was pur- chased by TRP in July 2018. Groundbreaking occurred with demolition of the exist- ing building and site work to set the stage for construction of a 9,100 s/f office building to be occupied by Fresenius Medical Care on a long-term lease. This new kidney care clinic will allow Fresenius to further serve patients in the City of Richmond. Completion is scheduled for 4th quarter 2020. 3407 West Broad St.
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