110 Allen Road in Basking Ridge — Courtesy: Cushman & Wakefield
By Joshua Burd
A Basking Ridge office park has inked more than 100,000 square feet in new leases and renewals recently, the latest activity at the 527,000-square-foot complex since a change in ownership and an ongoing series of upgrades.
The broker for the campus, Cushman & Wakefield, announced this week that leasing activity has picked up at the three-building complex known as The Offices at Liberty Corner. The property includes 110 and 106 Allen Road, which are both fully occupied, and 150 Allen Road, where vacancy has been cut in half since The Silverman Group fully assembled the campus in 2013.
Most recently, Skyworks Solutions Inc., Valiance and Limetree Bay Terminals LLC joined the tenant roster at 110 Allen Road, according to a news release. At 106 Allen Road, Silverman has newly signed leases with Major, Lindsey & Africa LLC and Hess Corp.
The firm has also recorded several renewals, including an expansion by Light Speed Technologies Inc. at 150 Allen Road. Meantime, Brillio LLC and Strohmeyer & Arpe Co. Inc. have renewed at 110 and 106 Allen Road, respectively.
They are the latest deals at The Offices at Liberty Corner, which sits just off Exit 33 of Interstate 78 and has Cushman & Wakefield as its exclusive leasing agent. The marketing team — headed by Bill Brown, Ben Brenner and MariaGrace Iantosca — has completed 650,000 square feet in new leases, expansions and renewals since taking over the assignment in 2013.
“The Silverman Group has continued to add services and facilities to enhance quality of life at The Offices at Liberty Corner and the volume of new leases and renewals ties directly to the resulting, outstanding work environment,” Brown said. “This landlord is dedicated to accommodating tenant needs for quality accommodations and providing the type of highly amenitized environment that helps employers attract the best talent.”
At 110 Allen Road, where C&W is still marketing space, The Silverman Group recently upgraded the lobby. The firm has also added a 2,500-square-foot fitness center and a 25-person state-of-the-art conferencing facility.
Previously, the landlord upgraded food service and renovated the cafés at all three buildings and completed a lobby renovation at 106 Allen Road, the news release said. Other improvements within the buildings include a tenant lounge with a pool table at 110 Allen Road and new outdoor seating areas at 106 and 110 Allen Road, along with a basketball court and a mile-long walking path around the campus perimeter.
The upgrades have allowed Silverman and C&W to tap into a leasing uptick in the region and the demand for office buildings with more amenities.
“The I-78 corridor office market has gained momentum,” Brenner said. “Basking Ridge, in particular, is a long-time target destination for the pharmaceutical, communications, technology and (finance, insurance and real estate) industries.
“The region’s deep and skilled labor pool and executive housing options continue to place it among the state’s most desirable suburban office markets.”
