The newly upgraded lobby at 10 Independence Place in Warren — Courtesy: JLL
By Joshua Burd
A pharmaceutical firm is moving its U.S. headquarters to a newly renovated building in Warren, under a 14,280-square-foot lease announced Friday by JLL.
Brokers representing the owner, American Equity Partners LLC, touted the long-term lease with Cipla Inc. at 10 Independence Blvd. The new tenant will occupy a portion of the third floor at what’s known as Independence Place, a 120,528-square-foot office building off Interstate 78.
The JLL leasing team included Managing Director Craig Eisenhardt, Senior Vice President Robert Ryan and Vice President Jason Benson, who worked closely with AEP Partner David Elkouby. CBRE senior vice presidents David Leviton and Jon Meisel represented Cipla.
“American Equity Partners has been transforming Independence Place into a modern workplace for New Jersey’s corporate workforce,” Eisenhardt said. “At the interchange of Exit 33 off Interstate 78, the building is easily accessible and is in walking distance to local amenities, and in close proximity to Newark Liberty International Airport, New York and the submarket’s large, diverse labor pool.”
The four-story Independence Place was constructed in 1988, JLL said, but American Equity Partners launched a major upgrade for the building last year. The owner completed the renovation of the lobby, first-floor restrooms and elevator cabs in the first quarter of 2018 and expects the new conference space and fitness center to be finished in the fourth quarter.
The property sits within the 118-acre Somerset Hills Corporate Center, with direct access to a four-way interchange at Exit 33 from I-78 and close to Interstate 287, JLL said. When renovations are complete, the property will feature a common conference space and fitness center, with walkable access to two hotels and shops and restaurants at Riverwalk Village Center.