BASKING RIDGE, NJ-The Silverman Group has purchased of the building 106 Allen Road here, completing its assemblage of a three-building, 525,000-square-foot campus to be known as The Offices at Liberty Corner.
Cushman & Wakefield was the leasing agent. C&W also served as agent for Silverman's acquisition of 50 and 110 Allen Road.
The buildings at Exit 33 off I-78 were developed in a cluser to permit shared services and amenities, according to C&W's Bill Brown. He and Ben Brenner of C&W's Morristown office are handling the assignment for Silverman.
The owner will provide new coffee/food kiosks in each of the buildings, in addition to renovating common areas and other improvements. The building at 106 Allen Rd. has 133,00 square feet of office space; the 190,000-square-foot 150 Allen Rd. includes a fitness center and conference space; a second fitness center and café upgrades are planned at the 202,000-square-foot 110 Allen Rd.
“Tenants will have access to the amenities in all three buildings, and The Silverman Group will continue to invest in services and upgrades throughout the property,” Brown said. He added that, “The campus is located in a great, upscale neighborhood, with retail, dining and hotels nearby.”
Silverman purchased 150 Allen Road in 2010 and brought it to full occupancy. The company has reduced vacancy to 11,000 square feet at 110 Allen Road, which it purchased in 2011.
C&W is marketing 61,000 square feet of vacant space at 106, with space ranging from 2,000 square feet up to a full floor of 40,000 square feet immediately available.
“The Offices at Liberty Corner will provide a great work environment as well as an identity on the I-78 Office Corridor,” said Blake Silverman, president. Current tenants at include Ace Insurance, Oracle, Matheson Tri-Gas, Regeneron Pharmaceuticals, Ipsen Biopharmaceuticals, Cornerstone Relocation Group, Wells Fargo, Mylan Specialty L.P. and Fireman's Fund.
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