B — February 14 - 27, 2014 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N ew J ersey
Lee & Associates represents Dish Network CBRE represents KABR/ Capstone in 56,742 s/f lease
OSELAND PARK , NJ — DISH Network, the Fortune 200 pay-TV giant that provides satellite programming to more than 14 million subscribers, has signed a 10-year NNN lease with KABR Real Estate Investment Partners and Capstone Realty Group for 56,742 s/f within the 75,2256- s/f 3ADP Blvd., situated in the Roseland Corporate Campus in highly desirable Roseland, NJ. The campus sits adjacent to Exit 5 of Route 280. The deal was brokered by CBRE Group Inc . Completing the agreement R
3 ADP Boulevard, Roseland, NJ
was made possible by the abil- ity of KABR/Capstone to offer a competitively priced deal and their ability to design a solu- tion that met the specific needs
of DISH Network employees. KABR/Capstone also invested over $3.0M in building and tenant improvements. “We are very proud to wel- come TV giant DISH Network to our property in Roseland,” said Adam Altman , partner at KABR Real Estate Invest- ment Partners. “Working with DISH proves that our ability to create tailored solutions con- tinues to attract high quality tenants.” Capstone Realty Groupman- aging partner Mitchell Adel- stein added, “Significant im- provements were made to the building including new HVAC systems and roof along with a significant tenant contribution to accommodate DISH’s long- term use and occupancy at 3 ADP. The site also provides significant on-site parking, backup power supply and redundant hi-speed data that made the deal highly attrac- tive.” Jeremy Neuer , the leas- ing broker and senior vice president at CBRE, added, “We were able to work with the landlords, KABR/ Capstone, to get creative in developing an out-of-the-box deal structure to accommodate Dish Network’s specific needs.” In June 2012, KABR/Cap- stone acquired Roseland Cor- porate Campus, which com- prises two four-story buildings totaling 166,306 s/f from ADP. DishNetworks lease brings the entire campus to more than 95% occupied. In less than 18 months, the KABR/Capstone team successfully leased ap- proximately 145,000 s/f in its Roseland properties. The CBRE team of Joseph Sarno , executive vice presi- dent; JeremyNeuer, senior vice president; Peter Shikar , vice president; and Rob Norton , senior associate, represented the owners KABR/Capstone. Peter Rasmusson of Lee & Associates represented Dish Networks in the deal. n
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