A rendering of a new cafeteria at 650 From Road in Paramus — Rendering by Kimmerle Newman Architects/Courtesy: Cushman & Wakefield
By Joshua Burd
Onyx Equities and Garrison Investment Group have kicked off a multimillion-dollar renovation of a 363,000-square-foot office building in Paramus, according to Cushman & Wakefield.
Brokers with the firm, which is representing the ownership team at 650 From Road, announced Friday the start of upgrades that will include the addition of indoor and outdoor amenities, a living wall and outdoor workstations. Those improvements are slated for completion by next summer, bringing a level of modernization that the landlord says will be rare for Bergen County.
Kimmerle Newman Architects is the designer for the project.
“In the current environment, it is critical that tenants are as comfortable and safe as possible, which is why we are thrilled to have started renovations at this property,” said Adam Karafiol, Onyx’s senior vice president of leasing. “We’re not just renovating an office property — we’re reinvesting in the suburbs to create the workplace of the future, offering tremendous new amenities to welcome tenants back to the office.”
Rendering by Kimmerle Newman Architects/Courtesy: Cushman & Wakefield
The project follows Onyx and Garrison’s acquisition of the property in summer 2019, which added to the joint venture’s sizable portfolio in Bergen County. The five-story building is adjacent to the Garden State Parkway and minutes from Route 17, with notable tenants include Movado and RBC.
The C&W leasing team — which includes Mark Zaziski, David DeMatteis and Ben Brenner — said the upgrades will be especially timely.
“Onyx and Garrison have spent months crafting the renovation plan, which caters to a corporate user that today is laser focused on the health and well-being of their employee,” Brenner said. “650 From Road will ultimately be one of the area’s only properties renovated in the COVID-19 era, especially to the highest standards of safety and wellness.”
New amenities at the building will include a full-service cafeteria and modern conference room, according to a news release. The new living wall will spiral up the main lobby, drawing attention to the vast amount of natural light that will pour in post-renovations.
In addition to outdoor workstations, the property will feature exercise equipment and a running loop.
“Despite the pandemic, ownership is investing millions of dollars to improve this Class A trophy office building, proving that no matter what uncertainty we’re currently seeing with the office market, landlords and tenants know that the office will always play an important role in the new work ecosystem,” Mark Zaziski said.
The building can accommodate users ranging from 2,000 to 200,000 square feet, with signage fronting the Garden State Parkway for tenants approaching the 200,000-square-foot threshold, the leasing team said.
“We’re thrilled to continue our longstanding and successful partnership with Onyx Equities,” DeMatteis added. “Unlike some owners, Onyx always invests into its properties upfront. These renovations will make this trophy office property arguably the nicest building in the submarket.”