Global commercial real estate advisory services firm Newmark Knight Frank (NKF) today announced it has been retained by Ivy Realty (IVY) as the exclusive leasing agent for its portfolio located in the Warren Innovation Center, (formerly known as Mount Bethel Corporate Center) in Warren, NJ. The NKF team of Executive Managing Director Jeff Schotz, and Associate Directors Harrison Russell and Dan Reider will work closely with IVY to develop and implement a significant capital improvement plan for the three-building campus, creating a vibrant, modern working environment for current and future tenants.
Warren Innovation Center encompasses over 231,000 square feet of multi-use space across three buildings, located at 30, 40 and 45 Technology Drive. The campus features an on-site health, racquetball and tennis club, and nature trail. Ownership is currently developing plans to further update the campus; which will include renovations to the building facades, common areas, and tenant amenities.
Strategically located, the campus provides immediate access to I-78 and is just minutes from the interchange of I-78 and I-287 – making it a commuter-friendly destination for tenants. It is situated just two miles from downtown Warren, an amenity-rich area that boasts fine dining restaurants, fast-casual eateries, shopping centers and prominent corporate neighbors such as GlaxoSmithKline, Celgene, UBS, and Dell-EMC.
“With strong ownership now in place, the Warren Innovation Center is well-positioned to retain and attract tenants looking for value-oriented space with key amenities located in the park,” noted Schotz. “The buildings are suitable for both traditional office tenants and for companies looking to lease R&D, laboratory or light industrial space, so we’re confident the campus will attract a diverse range of quality tenants. As this submarket continues to grow as a hub for New Jersey’s robust biopharmaceuticals sector, we expect biotech and pharmaceutical companies alike will be particularly interested in this location.”
While the property at 45 Technology Drive is already fully leased, there is currently space available for lease at both 30 Technology Drive and 40 Technology Drive. 40 Technology Drive is also available for purchase.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
About Ivy Realty
Founded in 1996, Ivy Realty is a Greenwich, CT-based real estate investment, development and management company that has acquired more than $2.2 billion in assets and currently has a portfolio exceeding six million square feet of office, industrial, residential and retail properties. IVY invests on behalf of institutional, discretionary funds in value-added investments in the Northeast U.S., Southeast Florida and Colorado. For more information, visit www.ivy-realty.com.
