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Cushman & Wakefield Reports Strong 2016 Leasing Activity at 3 University Plaza

| March 10, 2017 | 0 Comments

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HACKENSACK, N.J. March 10, 2017 – Cushman & Wakefield’s Morristown Office reported more than 50,000 square feet in new leases and expansions at 3 University Plaza in 2016.

“Three University Plaza continues to attract tenants with a combination of building amenities,  convenient access to New York and easy accessibility to Route 80, the NJ Turnpike and Garden State Parkway,” said Senior Director William O’Keefe, who works with the Cushman & Wakefield team of Raymond Trevisan and Brandon DeGraff in leasing the space. “The building’s amenities include a full cafeteria, conference center and lobby attendant and additional amenities in the area such as the Shops at Riverside for dining and retail shops.”

O’Keefe also credits the building’s owner, Normandy Real Estate Partners, for its institutional, vertically integrated platform focused on owning and operating first class office assets. “The people at Normandy are creative dealmakers who think out of the box,” he said.

Activity during 2016 included two new tenants as well as a number of expansions. Bergen’s Promise, a care management organization, took 16,263 square feet in a move from Rochelle Park while Brainsway, an international, publicly traded medical device company, leased 2,380 square feet.

  • The existing tenancy at 3 University Plaza continues to extend and expand. Total Bank Solutions, a technology firm serving banking intermediaries, added 11,723 square feet and now occupies 21,595 square feet.
  • Senior health and homecare provider Confident Care extended on 5,089 square feet.
  • TIAA, a Fortune 100 financial services organization and a leading retirement provider, extended its lease of 6,599 square feet.

“The building is currently offering a rare opportunity, marketing 56,000 square feet that comprises the first and second floors,” O’Keefe said, adding that the space has its own private building entrance, parking and opportunity for enhanced branding with outdoor signage.

 

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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. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. 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.

About Normandy Real Estate Partners

Normandy Real Estate Partners is a leading real estate investment management firm and operator with offices in New York City, Boston, Washington, D.C. and New Jersey with a track record spanning 20 years.  The firm is a vertically-integrated investment and operating platform with a total of 113 employees with broad real estate experience in areas such as acquisitions, investment management, leasing, property management, construction/development and accounting. Normandy’s focus is primarily on acquiring office and mixed-use investments located in the Northeast and Mid-Atlantic CBD and transit-oriented submarkets where it owns and operates one of the largest private real estate portfolios in the region totaling over 14 million square feet and a development pipeline of 4 million square feet. Normandy’s deep local relationships, vertically-integrated capabilities, and diversely-experienced team give it a distinct advantage, which enables us to consistently turn under-achieving real estate into exceptional high-yielding investments.  For more information visit www.normandyrealty.com.

 

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

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