Firm to market, lease, Class A, 264,059-square-foot office property directly off I-80, adjacent to Rockaway Townsquare; owners to reposition, modernize complex
JLL was selected by Northbridge Investment Management Inc. as exclusive leasing agent for The Mark, 100 Enterprise Drive in Rockaway, N.J. The firm will provide a full range of leasing and marketing services for the Class A, seven-story, 264,059-square-foot office building located at the confluence of Route 15 and I-80, directly adjacent to the recently transformed Rockaway Towncenter.
Northbridge, in collaboration with marketing consultant Art & Mechanical, has rebranded the asset as The Mark to highlight the Class A office building’s ability to deliver all of the requirements of a modern workplace to its tenants.
The JLL professionals that will be overseeing the rebranded asset include Chris Conklin, senior vice president, along with Craig Eisenhardt, managing director; Dan Spero, executive vice president; and Michael Pietrowicz, associate.
“Northbridge acquired The Mark earlier this year and tapped JLL to oversee the repositioning effort for the property,” said Conklin. “This was a terrific opportunity to acquire an incredibly well-located, high-quality suburban office building in Morris County. The new owners are launching a multimillion dollar capital improvement program to thoroughly enhance the building and improve its standing as the premier modern workplace in western Morris County.”
Designed by Arguson Projects Inc., the renovation is slated to begin in December, with expected completion in 2019. The effort will include upgrading the lower and main lobbies and common areas; updating of bathrooms; adding WiFi-enabled interactive seating areas; refurbishing the parking deck; and creating new outdoor seating areas and landscaping to improve overall curb appeal.
Northbridge is also planning to add an amenity center on the ground level that will include a café/lounge ,a golf simulator and a new multi-purpose conference center. A new fitness center will be built on the second floor for tenant use.
The Mark has approximately 140,000 square feet of office space available on the first through the fourth floors.
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.
About Northbridge Investment Management Inc.
Northbridge Investment Management facilitates direct ownership for private and institutional capital of quality commercial real estate assets that offer a balance of distributable income and long-term capital appreciation. Our objective is to enhance the value of our assets to maximize long-term value of our properties. The principals of Northbridge have worked with blue chip brands including CBRE, JLL, Slate Asset Management, Pure Industrial Real Estate Trust, and Kimco Realty Corporation. They have significant experience in the acquisition and management of large-scale industrial, retail and office portfolios, leading ~150 commercial real estate transactions for a total value of $5Bn.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000 as of June 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
