1 Crossroads Drive in Bedminster — Courtesy: Colliers International
By Joshua Burd
A two-building office complex in Bedminster has recorded some 90,000 square feet of leasing activity over the past six months, according to the brokerage team for the property.
Brokers with Colliers International said the deals at 1 and 2 Crossroads Drive include a new lease, two expansions and two renewals. And the activity comes as the landlord, Eden Wood Realty Corp., bolsters the amenities at the 150,000-square-foot campus off Interstate 287.
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Colliers’ Richard Mirliss is representing ownership along with colleagues Alex Vitro, Jack Callahan and Richard J. Madison. The transactions are as follows:
- Zelis Healthcare renewed and expanded its full-building headquarters lease at 2 Crossroads Drive. Larry Martin of Newmark Knight Frank served as tenant broker.
- Hartford Steam Boiler Inspection and Insurance Co. relocated and expanded within 1 Crossroads Drive. The equipment breakdown insurance and specialty coverages firm, which was represented by Chris Ostop of JLL, maintains a regional sales office at the property.
- Law practice Weber Gallagher Simpson Stapleton Fires & Newby LLP leased space at 1 Crossroads Drive. Ann Klein and Jeff Kolodkin of Newmark Knight Frank represented the firm.
- Long-time tenant Merrill Lynch Wealth Management extended and expanded its commitment at 1 Crossroads Drive. The company’s Bank of America division, which was represented by Jeff Babikian of CBRE, maintains a regional sales office at the campus.
- Pharmaceutical giant Merck renewed its lease at 1 Crossroads Drive. JLL’s Jodie Matthews served as tenant representative.
Colliers, which took over leasing at the property in March, said the demand was due in part to Eden Wood Realty’s upgrades at the property. They include the introduction of a new, full-service cafeteria with outdoor seating at the entrance of 1 Crossroads Drive, plus a shared conference facility with video conferencing capability.
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The campus already features a café with an outdoor courtyard and seating.
“This property’s location and quality have always distinguished it among peer buildings in Somerset County,” said Mirliss, whose team is based in Colliers’ Parsippany office. “Now the ownership is introducing an amenities program at a level typically associated with larger properties, making 1&2 Crossroads stand out even more as a go-to choice for small and mid-size tenants.”
Mirliss said the owner’s aggressive rental rates and flexible lease terms have also contributed to the stepped-up tenant activity. Eden Wood has also named Colliers as property manager for the campus, an assignment headed by Steve Smith.
The campus sits along I-287 and offers access to Interstate 78 and Route 206.
