184 Liberty Corner Road, Warren, NJ
- 369,797 rentable sf
Center 78 is a 369,797 square foot, four-story office building with direct access to Interstate 78. The building served as an AT&T (and later Lucent Technologies) facility for over twenty five years before becoming vacant. Normandy acquired the defaulted senior mortgage at a discount to par value and completed a deed-in-lieu of foreclosure transaction to gain control of the real estate from the borrower. During its ownership, Normandy redeveloped the building into a first class property, including the installation of a new, four-story glass entry atrium, new bathrooms, a full service café, fitness center, new roof and mechanical equipment. Since acquisition, Normandy increased occupancy to 90% by attracting credit tenants including Dell-EMC, Fiserv, UBS, Continental Casualty Company and GlaxoSmithKline’s Consumer Healthcare North American headquarters.