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Marcus and PREI Acquire 500 Plaza Drive in Secaucus, Slate $15M Upgrade

SECAUCUS, NJ – Marcus Partners, in a venture with Prudential Real Estate Investors, is acquiring, renovating and rebranding 500 Plaza Drive, a class A, 450,000 square foot office tower located in Secaucus, NJ.

By Steve Lubetkin | Updated on August 06, 2014

SECAUCUS, NJ – Marcus Partners, in a venture with Prudential Real Estate Investors, is acquiring and rebranding 500 Plaza Drive, a class A, 450,000 square foot office tower located in Secaucus, NJ. Marcus says it will invest $15 million in renovation of the lobby and construction of new conference and fitness centers, and a full service café.  Plans also include construction of a new 250-space parking structure and 30 new visitor parking spaces in front of the building.

With the addition of 500 Plaza Drive, its final acquisition for Marcus Capital Partners Fund I LP, Marcus Partners now owns and manages 650,000 square feet of commercial real estate investments in New Jersey and over 5.5 million square feet along the East Coast.  Marcus Partners will continue to actively grow its commercial real estate portfolio through value add acquisitions of office, bio-medical, medical office, R&D and industrial space in East Coast markets such as Metro Boston, suburban New York City (CT, NJ, NY), Metro Washington, D.C., and other select East Coast markets.

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