51 John F. Kennedy Parkway in Short Hills — Courtesy: The Birch Group
By Joshua Burd
A financial services firm has leased nearly 20,000 square feet of office space in Short Hills, becoming the latest tenant at a recently sold and soon-to-be upgraded cluster of buildings.
The landlord, The Birch Group, said Blue Owl Capital committed to an 11-year term under the transaction at 51 John F. Kennedy Parkway. The New York-based direct lending and capital solutions firm will occupy 19,791 square feet on the property’s second floor.
“When we acquired 51 JFK Parkway earlier this year, we were confident in our ability to attract long-term tenants to the property not only due to its prominent location but also due to our hands-on approach and vision of what the property can become,” said Mark Meisner, president and founder of The Birch Group. “We believe we’re creating something truly special at 51 JFK and we’re thrilled to welcome Blue Owl to the property.”
Meisner’s firm purchased 51 JFK Parkway from Mack-Cali Realty Corp. as part of a four-building, 843,000-square-foot portfolio, which traded for $255 million. As part of a planned upgrade, the company is slated to create an outdoor courtyard at the front of the campus with events and activities, walkways and connectivity to the surrounding neighborhood amenities, while upgrading the building’s commons areas and restrooms.
The 260,750-square-foot property features an on-site cafeteria, a deli, a newsstand and covered parking, according to a news release. It’s now 96 percent leased, thanks in part to its proximity to skilled labor, highways such as Route 24 and amenities such as the luxury Mall at Short Hills, the Short Hills Hilton and others.
Other tenants include Investors Bank, KPMG, Bank of America, UBS and Wells Fargo Advisors.
Mack-Cali sells 843,000 sq. ft. Short Hills office portfolio to Birch Group for $255 million
