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Vision Real Estate Partners

| February 17, 2017 | 0 Comments

Vision Real Estate Partners is a full-service real estate owner/operator, specializing in development, property management, asset management and construction. The firm is well known for its deep roots and experience in the New Jersey/New York regional marketplace, and for its track record of identifying properties with great potential and transforming them into superior assets. Vision Real Estate Partners currently is developing or redeveloping more than 2 million square feet of space in its local market. The company has over 100 acres of land parcels available for mixed-use and build-to-suit opportunities. Its Vision Management platform also currently oversees property management, financial reporting and overall operational supervision for nearly 1.5 million square feet of office space on behalf of multiple strategic partners.

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Vision Real Estate Partners
1 Bloomfield Ave
Mountain Lakes, NJ 07046
visionrep.com

COMPANY OVERVIEW
Vision Real Estate Partners is a full-service real estate owner/operator, specializing in development, property management, asset management and construction. The firm is well known for its deep roots and experience in the New Jersey/New York regional marketplace, and for its track record of identifying properties with great potential and transforming them into superior assets. Vision Real Estate Partners currently is developing or redeveloping more than 2 million square feet of space in its local market. The company has over 100 acres of land parcels available for mixed-use and build-to-suit opportunities. Its Vision Management platform also currently oversees property management, financial reporting and overall operational supervision for nearly 1.5 million square feet of office space on behalf of multiple strategic partners.

HISTORY AND PHILOSOPHY
Launched in 2013, Vision Real Estate Partners evolved from the former Vision Equities, LLC (the firm’s Sam Morreale, founder and managing partner, also co-founded that predecessor firm in 2006). Vision Real Estate Partners focuses on value-add, opportunistic, and select core and core-plus investment activities. The full-service firm maintains complete in-house capabilities and partners with national and global institutions, as well as private equity. Vision Real Estate Partners has distinguished itself with its entrepreneurial approach and institutional pedigree, and by embracing the win-win nature of public/private partnerships that combine shared vision, expertise and teamwork excellence. Vision Real Estate Partners leverages its experience, relationships and hands-on approach to provide highly desirable real estate for tenants, sound financial investments for its partners, and performing, quality ratables for its host towns and municipalities.

PORTFOLIO HIGHLIGHTS
67 Whippany, Whippany, N.J.
Originally acquired in a joint venture between Vision Equities and Rubenstein Partners in 2010, this 194-acre former Alcatel-Lucent property is master-planned as one of the largest-scale, mixed-use redevelopment sites in Northern New Jersey. Already, the project includes nearly 1.1 million square feet in approved corporate space for Bayer Healthcare and MetLife Investments, effectively replacing the 1.4 million square feet of obsolete Alcatel-Lucent offices existing when the partnership acquired the campus. 67 Whippany Road has been recognized with high-profile honors from NAIOP New Jersey, NJBIA, the Morris County Economic Development Corporation, United Way of Northern New Jersey and the U.S. Green Building Council New Jersey.

  • Bayer Healthcare East Coast HQ: The partnership subdivided the 67 Whippany Road parcel into two components, sold the 94-acre North Campus to Bayer Healthcare, and then designed, executed approvals and developed a 675,000-square-foot, build-to-suit East Coast headquarters for this global industry leader and long-time New Jersey corporate citizen. Completed in 2013, that LEED-certified facility includes approved expansion for up to 200,000 square feet.
  • MetLife Investments Global HQ: In April 2015, Vision Real Estate Partners and Rubenstein Partners marked the launch of 67 Whippany Road’s South Campus component when they broke ground on a 185,000-square-foot, Class A Office facility that will be the new global headquarters for MetLife Investments. Designed to sustainability standards for LEED Gold Core and Shell and LEED Platinum Interiors, the building is located on 14 acres fronting Whippany Road. It is slated for delivery in July 2016.

The Crossings at Jefferson Park, Whippany, N.J.
Vision Real Estate Partners, again in partnership with Rubenstein, recently completed a multi-million-dollar redevelopment at 115 South Jefferson Road in Whippany. The renovated and rebranded Crossings at Jefferson Park office property includes 525,000 square feet of Class A space in three buildings on a park-like, 65-acre campus. Amenities include extensive landscaping and 1.2 miles of on-site walking paths that connect directly to Patriots Path, a bike share station, on-site fitness center, and full-service cafeteria and grab-and-go dining options. The partnership currently is transforming a former powerhouse at The Crossings into a stand-alone common amenity center with a multi-function cafeteria/business lounge, Wi-Fi, café/coffee bar and a 1,500-square-foot fitness center.

Mountain Ridge, Montville, N.J.
Vision Real Estate Partners in 2014 acquired Montville Corporate Center, a 218,000-square-foot, 27-acre, Class A office campus at 340-342 Changebridge Road. The company is finalizing a flexible redevelopment plan to reposition the two, three-story travertine marble office buildings, or redevelop the asset as a mixed-use property, including multifamily residential. In its renovation scenario, the partnership will invest nearly $15 million to reposition the buildings for single- or multi-tenant occupancy. All scenarios will embody a serene, mature wooded campus with ample lifestyle amenities.

Whippany Village, Whippany, N.J.
Vision Real Estate Partners’ 10-acre, mixed-use Whippany Village, currently under development on Route 10, has attracted national tenants CVS and JP Morgan Chase to anchor its 65,000-square-foot retail component. The project also will introduce 46 high-end multifamily rental units for this supply-constrained market. Located on what was a vacant and abandoned highway eyesore, the project embraces the colonial architecture of the neighborhood.

For a full overview of Vision Real Estate Partners’ portfolio, visit visionrep.com.

EXECUTIVE LEADERSHIP
Sam Morreale, founder and managing partner, guides the company’s overall direction and progress. He develops investment strategies and business plans for all of Vision Real Estate Partners’ assets and investments, in addition to seeking new business opportunities. Immediately prior to forming Vision Real Estate Partners, Sam was the co-founder of Vision Equities, LLC. Before the inception of Vision Equities in 2006, Sam spent 10 years as one of the original senior members of the Goldman Sachs Whitehall Operating Company, which owned and operated over 15 million square feet of commercial real estate in the Northeast. Before joining Goldman, he worked for two of the largest owners/developers in the New Jersey, Philadelphia and New York markets and managed their leasing and development teams.

Ross M. Chomik, managing partner, oversees Vision Real Estate Partners’ operations, development, redevelopment, acquisitions and leasing functions. In this role, he spearheads the business planning, strategy and planning of those functions. Throughout his career, Ross has been involved in the acquisition, development and leasing of over $800 million in office, industrial and retail properties and portfolios. He has directed the development, redevelopment, and leasing of over 3 million square feet of properties encompassing over 400 acres. Previously, Ross served as director of acquisitions and development for Vision Equities. He has an extensive background in commercial real estate finance and analytics.

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Website: www.visionrep.com/

Category: Vision Real Estate Partners, Real Estate

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