14C — January 21 - February 17, 2022 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
The Atkins Kent 101 project is slated for completion in March Atkins Companies to begin capital improvement project at 120,000 s/f West Orange, NJ MOB
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patient drop off, and a modern design featuring a two-story lobby with granite flooring. The building’s timeless design, paired with Atkins Companies’ hands-onmanagement and pro- active capital investments, has continually cemented its role as an invaluable piece of the local area’s healthcare landscape over the last four decades. Aiming to build upon its legacy of strategic investments into Atkins Kent 101, the new capital improvement project will modernize the building’s common areas to better meet the needs of today’s health- care practitioners and their patients. The plan will include a complete renovation andmod- ernization of the common areas
and restrooms on the second, fourth and fifth floors. “Our nearly 40 years of own- ership at Atkins Kent 101 ex- emplifies how our collaborative and proactive approach to prop- erty management enables us to continually create healthcare spaces that support the vital care services our tenants pro- vide to the local communities,” said Chick Atkins , managing principal at Atkins Companies. “Through this capital improve- ment plan, we are confident that we will be further enhanc- ing Atkins Kent 101’s standing as the area’s premier medical office building, and a place our healthcare tenants can con- tinue to be proud to call home for years to come.” MAREJ
EST ORANGE, NJ — Atkins Compa- nies , one of the na-
tion’s most successful multi- generational healthcare real estate developers, investors, and property managers, an- nounces the start of a capital improvement project at their 120,000 s/f Atkins Kent 101 medical office building located at 101 Old Short Hills Rd. in West Orange. The project is slated for completion in March of 2022. Located directly across the street from Cooperman Barn- abas Medical Center and adja- cent to RWJBarnabas Health’s corporate offices in West Or - ange, Atkins Kent 101 is one of the area’s premier healthcare NEWARK, NJ — A nine- phase redevelopment project by Accurate Builders & Developers that will reshape the Newark skyline and cre- ate a new transit-oriented neighborhood on the site of the former Newark Bears & Eagles Riverfront Stadium has been approved by the Newark Planning Board. At its December meeting, the board unanimously approved plans for phase one of the development, which consists of two eighteen-story residen- tial buildings containing 299 units each. A single-story of amenity and commercial space that will connect the two build- ings is also part of phase one, delivering nearly 22,000 s/f of restaurant and retail space and 15,000 s/f of amenities. In addition to phase one approval, the Planning Board unanimously voted to give preliminary major site plan approval to the entire project, phases one through nine. The new development, which will be known as CitiSquare Newark, will ultimately consist of 11 buildings, 4,200 residen- tial units, 100,000 s/f of com- mercial, office and hospitality space, and up to 3,000 parking spaces in a vibrant new neigh- borhood designed to be a center of culture and connection, just steps from the Newark Broad Street train station and the Riverfront Stadium light rail station. “The City of Newark has an incredible vision for this
101 Old Short Hills Road
facilities serving the needs of private practitioners as well as large regional healthcare sys- tems. Constructed in 1983 by Atkins Companies, the building
features three stretcher acces- sible elevators, ample patient parking with an abundance of handicapped spaces, automatic doors, canopied entries for
Accurate Builders & Developers receives approval for redevelopment of riverfront site
CenterPoint nets another industrial property inNorthernNewJersey
6 Wheeling Rd
Ian Bader ©
DAYTON, NJ — Center- Point Properties has closed on a low-coverage industrial facility in a highly coveted pocket of the premier Exit 8A submarket: 6 Wheeling Rd. in Dayton. The 198,000 s/f class A building covers just 28 percent of the nearly 14-acre property. "This investment continues our momentum over the last 12 months in 8A of acquiring insti- tutional-quality, low-coverage assets right off the Turnpike," said Bryan Won , Center- Point's investment officer. "6 Wheeling is a well-located class A asset with superior parking that will stand the test of time in a white-hot 8A submarket," Won continued. The warehouse features a 31-foot clear-height and has a separate 2-acre parking lot, adding to its long-term value to CenterPoint. The facility is only four turns from the New Jersey Turnpike for efficient trips to Port Newark-Elizabeth and New York City. "We're thrilled to add this property to our infill Northern New Jersey portfolio," said David Nenner , senior vice
president of asset manage- ment. "Land suitable for indus- trial development at Exit 8A is nearly exhausted, making premium assets like theWheel- ing Rd. property even more desirable to companies that need to be near the Port and the densely populated Central and Northern New Jersey con- sumer bases," Nenner finished. Unrelenting demand for space and storage in Northern New Jersey has tamped va- cancy rates in the Exit 8A sub- market down to one percent. According to industry analysts, rents for class A product in the Northern New Jersey market are approaching 30 percent year-over-year gains. Bunny Escava and Isaac Setton at Kassin Sabbagh Realty brokered the transaction. This is CenterPoint's third acquisition in the Exit 8A submarket this year. In June, the company landed the low- coverage class A facility at 63-65 Stults Road, and in the same month, it bought yet an- other sizeable property at 10 Corn Road. MAREJ
CitiSquare Newark rendering
property and we are thrilled to partner with them on this exciting project,” said Jack Klugmann , president & CEO of Accurate Builders & Devel- opers. “CitiSquare will be a vibrant new lifestyle destina- tion that combines community, culture, dining, green spaces, and a location near mass- transit. Mayor Ras Baraka and Deputy Mayor Allison Ladd de- serve a huge amount of credit for getting this project off the ground and we look forward to working alongside them as we create one of New Jersey’s most dynamic new neighborhoods right here in Newark.” Accurate Builders & Devel- opers is strategically develop- ing CitiSquare Newark, with the goal of creating a dis- tinct sense of place for future residents, retail tenants, and visitors, while also fostering connections to adjoining neigh- borhoods and bringing new economic opportunity to the city. Formerly the home of the Newark Bears, an independent minor league baseball team,
the 10.75-acre development site is located at the intersec- tion of Broad St. and Division St., a short walk from parks, restaurants, grocery markets, and cultural attractions in downtown Newark. CitiSquare Newark’s resi- dential buildings will feature revolutionary new amenities, co-working space for small businesses, entrepreneurs and freelancers, and attractive architecture that will further distinguish the Newark sky- line. A collection of studio, one-, two- and three-bedroom rental residences will be available. Calvin Souder of Soud- er, Shabazz and Woolridge Law Group and Andrew J Camelotto of Gibbons, P.C. represented Accurate Builders & Developers during the ap- proval process. The project’s ar- chitect is Ian Bader and its en- gineer is Eric Ballou of InSite Engineering, LLC . Shaya Ackerman , senior managing director of Meridian Capital Group , arranged financing for the project. MAREJ
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