BroadAcres Office Park in Bloomfield — Courtesy: Prism Capital Partners/P3 Properties
By Joshua Burd
A four-building, 380,000-square-foot office park in Bloomfield is nearing 90 percent occupancy after a flurry of new leases and renewals.
Leasing and managing agent Prism Capital Partners said the property, BroadAcres Office Park, has seen nearly 65,000 square feet of activity in recent months. The transactions have raised occupancy at the complex from 72 percent a year ago, when Prism sold it to P3 Properties.
The new owner has implemented a series of upgrades while retaining Prism’s services. The firms outlined the recent activity as follows:
- At 300 Broadacres Drive, Partnership for Children of Essex leased the entire third floor, which totals 26,025 square feet. Joseph Tormen of Lee & Associates represented the nonprofit, which relocated from West Orange.
- Climatec LLC, a division of the The Bosch Group, leased 14,382 square feet on the fourth floor of 300 Broadacres, relocating from Clifton. Cushman & Wakefield’s David Sherman, Kent Ilhardt and Ryan Harder represented the tenant.
- National Cable Communications, a longtime tenant at 400 Broadacres Drive, renewed its 10,351-square-foot, third-floor commitment. Savills Studley’s Gregg Najarian served as tenant broker for the advertising sales, marketing and technology firm.
- The Rosenblum Law Firm leased 3,979 square feet on the third floor of 200 Broadacres Drive. James Scancarella from Cresa New Jersey represented the criminal defense practice in its relocation from Clifton.
- Atomy America established a new regional office on the first floor of 400 Broadacres Drive. Eun Kyung Kim from Pro Star Properties served as tenant broker in the global network marketing organization’s 3,615-square-foot lease.
- SYSTRA Consulting leased 2,696 square feet, also on the first floor of 400 Broadacres, in a local relocation. Tom Palestina from Palestina Scrivo Properties served as tenant broker for the transportation systems and associated facilities specialist.
- Trinity Solar has committed to 2,341 square feet for a new regional office at 300 Broadacres Drive. Joel Natter from Zimmel Associates negotiated the first-floor lease.
Prism, which is headquartered at BroadAcres, is also overseeing the BroadAcres Office Park renovations through its Prism Construction Services division. Those upgrades have included development and installation of new campus signage, resurfaced parking lots, updated exterior lighting and the design and construction of a full-service fitness center at 200 Broadacres Drive.
“This is a dynamic ownership entity that has made a clear commitment to enhancing the tenant experience at BroadAcres,” said Edwin Cohen, principal partner with Prism. “Ultimately, the completed and planned improvements are securing the property’s position as the region’s preferred high-quality, highly amenitized option for all sized users.”
Prism said additional upgrades, including common area enhancements and additional amenities, are still to come. Made up of four 94,000-square-foot buildings, the 20-acre campus benefits from its location along the Garden State Parkway, between exits 151 and 153 and near the interchanges of routes 3 and 46.
