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Cushman & Wakefield Named Leasing Agent for Mountain Ridge at Montville

| November 9, 2015 | 0 Comments

Cushman & Wakefield of New Jersey, Inc.340 Changebridge Road Montville NJ
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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RCS/VREP Partnership Renovating One of Twin Buildings on Spec

MONTVILLE, N.J., Nov. 9, 2015 – Real Capital Solutions (RCS) and Vision Real Estate Partners (VREP) have named Cushman & Wakefield as exclusive leasing agent for Mountain Ridge at Montville. Curtis Foster and Jerry Shifrin of the commercial real estate services firm’s East Rutherford, N.J., office are marketing the 200,000-square-foot former Bayer Pharmaceuticals office property.

The joint venture ownership is renovating one of the twin, Class A buildings at the 27-acre Changebridge Road campus on spec. RCS/VREP is replacing the front of the travertine marble structure with a stone and glass curtain wall system. The design extends the third-story forward, creating distinctive exterior angles. Metal cladding and architectural elements will carry through to the back of the building, where a new awning will be installed.

Inside, a two-story atrium lobby will feature stone, millwork, upgraded lighting, and lounge seating with a coffee bar. The ownership will create a town hall-style conference area in the extended third-floor space, and refinish elevators, bathrooms and other common areas throughout the building. Mountain Ridge at Montville features flexible, 25,000-square-foot floor plates – including three stories and a lower level – with a 5/1,000 parking ratio.

“These institutional-quality buildings could serve as a headquarters facility for a single user or easily divide for multiple full-floor tenants,” Foster said. “Both Real Capital Solutions and Vision Real Estate Partners bring track records of successfully repurposing older buildings as modern workplaces with designs that offer both efficiency and aesthetics. This partnership is infusing energy and focus at Mountain Ridge at Montville, resulting in a desirable, high-profile leasing opportunity.”

The RCS/VREP partnership also is considering alternate uses for the second building at Mountain Ridge. Located on a gated, hilltop site with sweeping views of Morris County, the campus fronts on I-80 at exit 48, just two blocks from Route 46 at Hook Mountain Road, 1.5 miles from I-280 and three miles from I-287.

The offering comes at a time of mounting tenant demand for office space in the Northern New Jersey market, according to Cushman & Wakefield research. In fact, during the third quarter of 2015, the region experienced its highest amount of new leasing activity in nearly four years. Just under 1.5 million square feet of completed deals brought the year-to-date total to 4.1 million square feet, with Morris County accounting for 34.5 percent of that total.

The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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Category: Cushman & Wakefield of New Jersey, News Releases, News Releases, Newswire: Latest News, Vision Equities

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