1 Tower Center in East Brunswick — Courtesy: Newmark
By Joshua Burd
A global technology firm has leased 41,000 square feet at East Brunswick’s One Tower Center, marking the latest transaction at the newly renovated, 24-story office building.
According to Newmark, which represents ownership at the 415,000-square-foot high-rise, the property is now 85 percent leased after the deal with HCLTech. That’s up from less than 35 percent in 2019, when American Equity Partners purchased the building, giving way to a sweeping overhaul of the well-known asset just off the New Jersey Turnpike.
In the last 12 months alone, AEP and Newmark have completed more than 125,000 square feet of leasing volume at the building, where Newmark Senior Managing Director Jamie Drummond serves as the exclusive leasing agent.
“We invested heavily in repositioning One Tower Center, and the results have been incredible,” said David Elkouby, a partner at AEP. “The transformation of this property into a vibrant trophy asset has allowed us to attract some of the best users in the region as more tenants are laser-focused on choosing top-quality office destinations.”
Only about 65,000 square feet remains at One Tower Center, which attracted several notable tenants in 2022, according to a news release. They include RK Pharma Inc., which leased 24,000 square feet, along with DPR Construction and GEC Communities, which took 15,000 and 14,000 square feet, respectively.
Newmark Executive Managing Director Stephen Tolkach, managing directors Adam Silver and Dan Reider and Associate Director Andrew Perrotti provided support on the recent deals.
“Following the strong leasing momentum at the property at the end of 2022, this new lease demonstrates the continued strength of the asset in today’s marketplace,” Drummond said. “Between the property’s highly-amenitized environment, the unwavering flight to quality movement and its ideal locale, we are confident in One Tower Center’s ability to attract best-in-class users throughout 2023.”
One Tower Center, part of a 14-acre, mixed-used complex at the junction of routes 1 and 18, is connected to a sister building by the 405-room Brunswick Hilton Hotel and Conference Center. AEP recently completed a multimillion-dollar upgrade that included a redesigned seven-story atrium lobby, a renovated full-service cafe with outdoor seating, an improved covered parking deck with digital signage and a new amenities center on the 15th floor.