46C — March 30 - April 12, 2018 — The Best of 2017 — M id A tlantic
Real Estate Journal
Owners Largest Property of 2017
Vision Real Estate Partners 101 Columbia Road Morris Township, NJ
The Azarian Group Town Center Way Livingston, NJ
Size : 68,000 SF John M. Azarian, CEO, and Chris Kaufman, Director of Leasing, for the Azarian Group, are thrilled to announce the purchase of the Livingston Town Center last year. The Center occu- pies a prime location in one of Northern New Jersey’s most desirable residential communities and is part of a successful town center concept that also includes 114 upscale residential units. Its best-in-class curb appeal and complementary tenant mix distinguish the property within its competitive set. Located at the intersection of North Livingston Avenue and Mt. Pleasant Av- enue, Livingston Town Center houses a diverse tenant mix including 28 convenience stores, restaurants and service retailers, among other categories and is 96-percent occupied. Fan Bis- tro, Restore Cold Pressed Juice, Dentistry with a Smile, Fit36 and Xtend Barre are among the recent additions with two 1,500 SF and one 3,000 SF spaces still available. The Azarian Group purchased its first office building in 1970 and its first shopping center in 1972. Since then The Azarian Group has experienced controlled and steady growth and currently owns, manages and leases approximately 1,200,000 square feet of space in 18 properties throughout New Jersey and New York, with approximately 350 tenants.
Size : 715,000 SF Vision Real Estate Partners and a partner firm acquired this key, 64-acre Morris County development site, part of the former Honeywell headquarters campus on Co- lumbia Road (Route 510) in Morris Township. Regarded as THE build-to-suit office opportunity in Northern New Jersey, this project will introduce up to 715,000 SF of premier, custom corporate headquarters opportunities. Approved for office, research and laboratory development, the Columbia Road property offers proximity to down- town Morristown, the Morristown and Convent Station train stations, Morristown Jetport, and major regional thoroughfares including I-287 and Route 24.
Managers Largest Property of 2017
LevinManagement Corporation Ikea Drive Plaza Paramus, NJ
Bennett Williams Commercial High Pointe Commons Harrisburg, PA
Vision Real Estate Partners Princeton Pike Lawrenceville, NJ
Size: 817,000 SF: Princeton Pike has enjoyed strong success throughout its history. Yet following the Class A property’s ownership change and Vision Real Estate Partners’ appointment as property operator in 2016, a multi-million-dollar, amenity- centric capital improvement program was implemented to enhance and uphold the property’s position as an anchor for the Greater Princeton office market. The project reflects a strong focus on fostering productive workplaces and per- sonal fulfillment in a distinctive work/play environment, with an outdoor amenity park, and multiple cafes and fit- ness centers. Princeton Pike sits directly on I-95, just min- utes from downtown Princeton and equidistant from both Manhattan and Philadelphia.
Size: 550,000 SF LMC serves as property manager for Ikea Drive Plaza in Paramus. The property is home to IKEA, Bed Bath & Be- yond and Christmas Tree Shops. LMC currently is marketing a 50,000 SF space formerly occupied by Sports Authority, with strong interest from a range of retailers. This prominent site is located at the intersection of routes 4 and 17 – in the heart of the highly sought-after Bergen County retail cor- ridor. Situated directly across from the Garden State Plaza and just moments from the Garden State Parkway, Ikea Drive Plaza offers exceptional visibility, high traffic counts and strong demographics.
Location: 4640 High Pointe Blvd., Harrisburg, PA Size: 354,789 SF High Pointe Commons is anchored by Target and JCPen- ney. Situated a mile away is TecPort Business Center, a 1-million square foot office park, home to 4,000 employ- ees. Bennett Williams Commercial has managed the prop- erty since 2016, assisting the owner with management and leasing.
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