103 Eisenhower Parkway, one of three buildings in a 610,000-square-foot portfolio acquired by Vision Real Estate Partners — Courtesy: Vision Real Estate Partners
By Joshua Burd
Brach Eichler LLC has renewed its 44,000-square-foot lease at a soon-to-be-upgraded office campus in Roseland, in one of several recent deals announced Thursday by Vision Real Estate Partners.
The developer and landlord said Brach Eichler had recommitted to 101 Eisenhower Pkwy., part of a three-building portfolio it acquired early last year from Mack-Cali Realty Corp. Vision Real Estate Partners, or VREP, is now in the midst of a multimillion-dollar project to modernize and unify the assets as a 610,000-square-foot, 51-acre corporate campus.
The deal with the law firm was part of nearly 300,000 square feet in leasing activity touted by the owner, which is based in Mountain Lakes, as part of a 12-month recap for northern and central New Jersey.
“We are seeing stepped-up leasing involving tenants making flight-to-value and quality opportunities, and significant renewal activity at properties that are positioned to offer collaborative, experiential workplaces that best appeal to today’s workforce demands,” said Sam Morreale, VREP’s founder and managing partner.
One of the firm’s 2017 highlights was an 89,000-square-foot headquarters lease with Billtrust, a payment cycle software firm, at 1009 Lenox Drive in the Princeton Pike Corporate Center in Lawrenceville. As operator for the eight-building, 817,000-square-foot Princeton Pike campus, VREP is now orchestrating a multimillion-dollar revitalization focused on enhancing the buildings’ work-play amenities.
The firm highlighted several other deals on Thursday, including:
- Pelletieri’s 14,000-square-foot lease at 989 Lenox Drive at Princeton Pike
- The American Institute of Certified Public Accountants’ 19,500-square-foot renewal at Princeton South Corporate Center, a 268,000-square-foot campus in Ewing
- Wells Fargo’s 13,500-square-foot renewal at 1776 On the Green at 67 Park Place East in Morristown, which VREP acquired in 2017 and is now overhauling
The firm said it has several other significant transactions in its pipeline.
“The technology, advertising, media and information sector and professional services organizations continue to be among the most active sectors seeking multitenant space in the New Jersey market,” said Ross Chomik, VREP’s managing partner. “As a company, Vision Real Estate Partners is deeply focused on establishing a competitive advantage via the creation of superior workplace environments at our owned properties and those we operate for our strategic partners.”