26C — March 28 - April 10, 2014 — The Best of 2013 — Mid Atlantic Real Estate Journal
www.marejournal.com
Prism Capital Partners BroadAcres Office Park Broadacres Dr., Bloomfield, NJ — 380,000 SF — Bennett Williams One Marketway West York, PA — 140,700 SF — The MANAGERS LARGEST PROPERTIES of 2013 Vision Equities The Crossings at Jefferson Park Whippany, NJ — 525,000 SF —
Prism acquired this four-building class A campus in 1996. As owner/manager, the firm has created of an inviting out- door courtyard and patio area, and completed full lobby updates at 300 and 400 Broadacres Dr. Tenants also enjoy available conference space and upscale, specialty sit-down food service and on-site catering on the ground floor of 200 Broadacres Dr. The property’s location between Garden State Parkway exits 151 and 153, near the interchanges of routes 3 and 46, provides unparalleled access to northern and central New Jersey, with excellent access to Manhattan as well. Striking building façades complement the 20-acre, park-like setting. Bennett Williams Realty, one of the largest third- party, commercial real estate firms in Central Pennsylvania manages, One Marketway West, located at 1-28 W. Market St, York, PA. The property is a 4-story commercial building on the Square of York City and encompasses retail, fi- nancial, and commercial office tenants. In the past this building has been home to the City of York and York County Governments The OWNERS LARGEST PROPERTIES of 2013 Vision is putting the finishing touches on a multi-mil- lion-dollar renovation and rebranding of The Crossings at Jefferson Park, which the firm purchased in 2012 in partnership with Rubenstein Partners. The Class A property offers 525,000 s/f of office space in three buildings. Master planned by Ka Architects, the project included demolishing a functionally obsolete, 140,000 s/f data center at the property’s main entrance and re- placing it with an extensively landscaped great lawn. Vision completely redeveloped one of the remaining buildings, replaced roofs and updated common areas in the others, redesigned the campus entrances, intro- duced new signage, and upgraded landscaping.
Prism Capital Partners PrincetonPikeCorp. Ctr. Lawrenceville, NJ — 800,000 SF —
Mack-Cali Realty 100IndependenceMallWest Philadelphia, PA — 390,690 SF —
The Berger Organization The Military Park Bldg. Newark, NJ — 250,000 SF —
Keystone Property Grp. 14 Bldg. Office Portfolio
Pennsylvania — 1.7M SF —
1000 Madison Ave. in Lower Providence, totaling 100,700 s/f
The nine-story, approximately 400,000 s/f class A office building is promi- nently located in one of Philadelphia’s most desirable office submarkets di- rectly across from the historic Liberty Bell, the National Constitution Center and Independence National Park. The building is 85% leased to two tenants: Dow, which occupies 173,000 s/f as its Northeast headquarters; and the Gen- eral Services Administration of the United States (GSA), which will occu- py 135,715 s/f commencing July 2014. The building was purchased by a joint venture partnership of Keystone Prop- erty Group, Mack-Cali Realty Corpora- tion, and Parkway Corporation.
The Berger Organization in 2013 brought its 250,000 s/f, 21-story Military Park Building to full occupancy. Tenants at the 89-year-old historic landmark office tower enjoy on-site parking, a fitness center, conference facilities, and onsite ownership and management. The prop- erty offers commanding views of the surrounding city, New York skyline and Military Park, where a multi-million-dol- lar renovation is currently underway. The property is proximate to Newark Liberty International Airport and major thorough- fares. It is within walking distance to the New Jersey Performing Arts Center and Penn Station, which provides 20-minute NJ Transit and PATH service to midtown and downtown Manhattan.
Prism Capital Partners teamed up with Angelo, Gordon & Co. in the $121 ac- quisition of Princeton Pike Corporate Center. The eight-building, class A of- fice park totals 800,000 s/f and is ap- proximately 90% leased. The property’s household-name tenants include Sirius XM Radio, Wells FargoAdvisors, Stark & Stark, Princeton Healthcare Services, Fox Rothschild LLP, MetLife Solutions Group, Philadelphia Insurance Compa- nies and Ono Pharma USA, Inc., among others. Situated on 100 acres at the in- tersection of U.S. Route 1 and I-195, Princeton Pike Corporate Center is just minutes from downtown Princeton.
Keystone closed on its acquisition of 14 institutional-quality commercial prop- erties and three land parcels located in key suburban Philadelphia submar- kets for $233 million in a joint venture with Mack-Cali Realty Corporation. Through the execution of a strategic reinvestment program, Keystone plans to modernize the office portfolio to en- hance the quality of work life afforded to tenants. The partnership will also seek to develop the three land parcels – located in Lester, Media and Berwyn – which can accommodate future devel- opment of up to approximately 162,200 s/f in total.
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