4B — January 13 - 26, 2017 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
Eastman & P3RE Properties plan future enhancements at Eisenhower Corporate Campus Cushman & Wakefield arranges recapitalization for Eastman Companies’ 385,000 s/f office asset L IVINGSTON, NJ — Cushman & Wake- field ’s Metropolitan
class A properties are benefit- ing the most,” said Cushman & Wakefield’s David Bernhaut , who headed the assignment with team members Andrew Merin , Gary Gabriel , Brian Whitmer and Andrew Mac- Donald , as well as John Alascio of the commercial real estate services firm’s Equity, Debt & Structured Finance group. “Harvey Rosenblatt understood the value of this truly best-in-class asset, and was able to perform a very quick due diligence and adhere to tight closing timelines in or- der the make this transaction a success.”
Home to a broad range of corporate tenants – including Verizon, John Hancock Life Insurance Co., Veritext and Citrin Cooperman – Eisen- hower Corporate Campus is comprised of four interconnect- ing buildings set on 33.5 acres. The campus features an amenity package that includes a full-service cafeteria with catering capabilities, 24-hour security, electric car charging stations and a 600-vehicle parking structure. On-site fitness amenities include a fit- ness center, personal training at It’s Beyond Fitness, indoor cycling at Hills Fit Studio and appointment-only mas- sage services from New Jersey Massage. In addition, the fully equipped Eisenhower Confer- ence Center with a 200-seat auditorium is available for business functions. Eisenhower Corporate Cam- pus recently earned the U.S. Green Building Council ’s LEED (Leadership in Energy and Environmental Design) Silver certification for Existing Buildings: Operations & Main- tenance. In 2014, ECC received “The Outstanding Building of the Year” (TOBY) honor from the Building Owners and Man- agers Association (BOMA). “This is a beautiful asset that speaks for itself,” said P3RE’s Rosenblatt. “Eastman Com- panies has created a premier business environment that meets the demand by today’s workforce to achieve greater work/life balance. We sought to capitalize on a tremendous opportunity to continue to reposition and lease-up the building, and with the continu- ous growth taking place in the Livingston market, we are certain the property’s future potential is something we can help bring to fruition.” “In 2008, Eastman embarked on a multimillion dollar capital improvement campaign to suc- cessfully renovate and reposi- tion the property to meet the evolving needs of corporate tenants and a growing millen- nial workforce,” said Peter Schofel , managing partner with Eastman Companies. Noting that the building is approaching 100% occupancy, Schofel added, “We are looking forward to working with our new partners to build on this in- vestment and further enhance the exceptional environment we have created for current and prospective tenants.” n
Area Capital Markets Group has recapitalized the institu- tional partnership at Eisen- hower Corporate Campus in Livingston, in a multi-million dollar transaction. The 385,000 s/f class A office complex, locat- ed at 290 W. Mount Pleasant Ave., is owned and managed by Eastman Companies and the new recap partner, P3RE Properties , a Jackson, NJ- based real estate firm headed by Harvey Rosenblatt . “As the market continues to strengthen, fully amenitized,
Eisenhower Corporate Campus
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