Morristown, NJ – October 2013 — Normandy Real Estate Partners, a leading real estate operator and fund manager, today announced that it has signed a new 10-year lease comprising of 14,000 sf with UBS Financial Services at Center 78. UBS will be relocating from Bedminster, New Jersey to the Class-A office destination in Warren, which was recently renovated under an extensive capital expenditure program.
“We’re happy to welcome UBS to our growing roster of tenants at Center 78. Under the completion of our capital expenditure initiatives, this prominent office building has become a highly-coveted work space in one of New Jersey’s strongest office sub-markets,” said Paul H. Teti, Principal of Normandy Real Estate Partners. “Normandy’s dedication to upgrading the building and offering innovative amenities makes Center 78 a fitting environment for UBS and all of their employees.”
Cassidy Turley, the exclusive leasing agent for Center 78, represented Normandy in the signing of the lease, with a team which consisted of Raymond Trevisan, Managing Principal, William O’Keefe, Senior Vice President and Kelsey Nakamura, Associate. Brokers Bill Brown, Senior Director and Josh Cohen, Associate Director of Cushman & Wakefield represented UBS.
UBS joins a number of current tenants at Center 78, including IT services provider EMC Corp., which signed an anchor lease at the building in December. Improvements under Center 78’s $12 million reconstruction program included a new entry façade and expansion of the lobby atrium with new finishes, new bathrooms and elevator cabs, plus state-of-the-art HVAC and life safety systems. Additional enhancements included the resurfacing of parking lots and entry roads, extensive landscaping, improved lighting and enhanced sign identity. The building is also LEED Gold-certified.
Located on 47 acres, Center 78 is conveniently located at Exit 33 off Interstate 78. The property is at the central hub of the submarket with immediate access to some of the area’s most attractive amenities, including lifestyle centers at Riverwalk, 100 Marketplace and luxury hotels.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, NJ with offices in Boston, New York City and Washington, D.C. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments. Normandy’s existing portfolio includes over 15 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, Los Angeles, San Francisco, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.