500 North Franklin Turnpike in Ramsey — Courtesy: Avison Young
By Joshua Burd
A real estate investment firm has retained Avison Young as its leasing team after acquiring a 140,000-square-foot office building in Ramsey.
The new owner, Highstone Equity Group, has kept the real estate services firm in place at 500 North Franklin Turnpike as it plans to kick off a series of upgrades. The investor recently acquired the building, which is near Route 17, Interstate 287 and the New York State Thruway and near hotels, conference facilities and other neighborhood amenities.
Marc S. Krieger and Steven Geltzeiler, both senior vice presidents with Avison Young, will continue to oversee leasing at the property.
“Highstone Equity Group has plans to make immediate improvements to the property by adding amenities that will appeal to today’s business, as well as structure leasing transactions that will compete favorably in the marketplace,” Krieger said in a prepared statement. “The Ramsey submarket is an attractive location for a variety of businesses and 500 N Franklin Turnpike is poised to take advantage of this interest.”
The building has covered parking, an open-air central plaza, café and on-site management. Krieger said the complex can accommodate requirements as large as 58,000 square feet on a full floor.
