BASKING RIDGE, NJ—Five new tenants have leased space and one company has expanded at The Silverman Group's Offices at Liberty Corner in Basking Ridge. Cushman & Wakefield is exclusive agent for the three-building, 525,000-square-foot class A campus located at 106, 110 and 150 Allen Road. A major capital improvement project offers various amenities; upgrades have been completed at all three buildings.
Bill Brown and Ben Brenner of Cushman & Wakefield's Morristown, NJ, office lead the marketing team for The Offices at Liberty Corner. This spring, they orchestrated the following long-term transactions.
- Arla Foods/Arla Foods Ingredients, which relocated locally to 13,000 square feet at 106 Allen Road. Harlan Hollander of Cushman & Wakefield was tenant broker.
- Torrent Pharmaceuticals, an existing tenant at 150 Allen Road, which expanded its occupancy to 12,000 square feet. Josh Cohen and Jon Williams from Cushman & Wakefield represented the tenant.
- Infosys, which relocated from Bridgewater to 106 Allen Road. Jeff Lerch from Foundation REA represented the tenant in the 9,000-square-foot lease.
- The Privilege Underwriters Reciprocal Exchange (PURE), which leased 8,000 square feet at 150 Allen Road. Frank Recine of Newmark Grubb Knight Frank represented the tenant.
- AFLAC, which relocated from Bridgewater into a 2,400-square-foot space at 150 Allen Road. Charlie Dillon from Jones Lang LaSalle was tenant broker.
- Concurrent Technologies renewed its lease long term in an in-house transaction by the Silverman Group.
The recent leasing activity coincides with the completion of the property enhancements at The Offices at Liberty Corner. The Silverman Group recently upgraded the lobby of 106 Allen Road with stone and wood-panel finishes, and incorporated a grab-and-go café. The Silverman Group has also upgraded the café, café seating and new conferencing facility at neighboring 150 Allen Road. The ownership also renovated the full-service cafeteria at 110 Allen Road, introducing a tenant lounge area with a pool table and seating.
Tenants at the campus tenants also have access to a fitness center and conference space. Located at Exit 33 of I-78, The Offices at Liberty Corner is located in an upscale neighborhood, with retail, dining and hotels nearby.
“Companies are attracted to The Offices at Liberty Corner due to The Silverman Group'srecent capital improvement projects, sophisticated construction team, along with the complex's flexibility to accommodate a company's future needs," says Brenner of Cushman & Wakefield. "Tenants consistently cite the great work environment and amenity base in their decisions to locate and expand here.”
Cushman & Wakefield currently is marketing availabilities ranging from 1,100 up to 52,000 square feet at 106, 110 and 150 Allen Road. Other tenants in the complex include ACE Insurance, Oracle, Matheson Tri-Gas, Regeneron Pharmaceuticals, Ipsen Biopharmaceuticals, Celgene, Wells Fargo and Fireman's Fund.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
