Plans for The District in Berkeley Heights call for two apartment buildings with a combined 328 units and three other buildings with 190,000 square feet of entertainment, dining and retail space that will anchor a new central pedestrian corridor. — Rendering by Minno & Wasko Architects and Planners/Courtesy: The Connell Co.
By Joshua Burd
The Connell Co. has named a leasing team for the growing retail component at The Park, its flagship campus in Berkeley Heights, having all but leased up the property’s 1.5 million square feet of office space.
The firm said recently that the appointment of Manhattan-based Capricorn Retail Advisors marks the next phase of its sweeping plan to expand and reposition the 185-acre complex just south of Interstate 78, which the Connell family has developed over more than four decades. The recently appointed team will oversee all retail leasing activities for the site in conjunction with plans to create a new mixed-use corridor known as The District that will bring new shops, restaurants, services and other uses to the campus.
The hire follows Connell’s $100 million update of its office space, which included implementing an upscale design and additional hospitality-focused amenities, fueling more than 100,000 square feet of long-term leases. New tenants include Blackstone, the world’s largest alternative asset manager, and Kennedys, a major global law firm, which both committed to more than 25,000 square feet at what’s known as RT Workspaces.
Both firms are slated to arrive this year after relocating from other submarkets in New Jersey.
“At The Park, we are creating a new gold standard for East Coast office space, prioritizing a resort and lifestyle experience that is reflective of the needs of the modern worker,” said Shane Connell, executive vice president at The Connell Co. “Our vision for The Park is to establish a live-work-stay destination that is surrounded by an ecosystem of hospitality-driven amenity spaces, retail and services. Our recent upgrades and rebranding of our office buildings were a key component that allowed us to fully execute our plan and enhance the tenant’s daily life.”
RT Workspace’s latest leasing activity brings its occupancy to some 97 percent, Connell said last month. Longtime tenants at the property include Hewlett Packard Enterprise, L’Oreal, Aon and Samsung, while fintech giant Fiserv occupies Building 100 under a 428,000-square-foot lease announced in 2021.
Connell added that RT Workspaces is home to Round Table Studios, a flexible coworking space with access to high-end culinary, wellness and social amenities, according to a news release. The membership-based workspace has some 560 members and is 90 percent occupied by a mix of diverse companies, entrepreneurs and individuals on varied membership levels.
The next phase of Connell’s plan calls for 55,000 square feet of new dining and entertainment concepts introduced late last year, including Emberside Brewery, Rosa Azul and BASH. The firm is now marketing an additional 65,000 square feet of retail space to complement The District.
“We are excited to have the opportunity to curate the retail component of this new age mixed-use project,” said Larry Weinstein, principal at Capricorn Retail Advisors. “The Park is capturing the attention of national brands and given Capricorn’s experience with ground-up developments and relationships with virtually every relevant retailer, this is a perfect match.”
The Park is already home to retail, lifestyle and hospitality operators such as LifeTime, Starbucks and Embassy Suites Hotel. Currently under construction is a 20,000-square-foot flagship location for Bathhouse — a New York-based wellness spa offering premium recovery amenities and treatment rooms, while Connell is fielding interest for uses such as a national grocer, upscale restaurants, cafés and other lifestyle-focused retailers.
“Our vision for The Park has been to create an active, multiuse destination environment for living, working, gathering, eating and shopping,” Connell added. “This next phase and goal is to create a dynamic, diverse mix of retailers for the walkable Main Street within The District at The Park that everyone can enjoy.”
