Mountain Development had high-tech tenants in mind when it bought the 210,000-sf building in Northern New Jersey's heavily developed and highly competitive Route 3 Corridor. That rehab, now nearly complete, includes everything from a completely new roof, to a massive new electrical infrastructure and a new mechanical cooling system. Mountain Development has also revamped the cafeteria, added a conference facility and plans to install a gymnasium.

"The building lends itself well for data and telco tenants," according to Mountain Development president Michael Allen Seeve. "It was built with heavy floor loads, high ceilings, a good power supply, proximity to fiber connections and an interior network of vertical shafts that allow for cabling between floors.

"We have also converted the former mechanical basement into a back-up generator farm," Seeve continues. "It offers 20-foot ceilings and complements the other renovations."