American Equity Partners and Newmark are pleased to announce the plans for a newly revamped 1 Tower Center in East Brunswick, NJ as well as 16,000 SF of recent office leasing momentum. Property owners American Equity Partners have a strong track record of delivering high-quality commercial office space and had selected Newmark’s Jamie Drummond, Andrew Perrotti, Dan Reider, Steve Tolkach and Adam Silver as the exclusive office leasing agents of the building.
1 Tower Center is a Class A, 24-story building spanning 415,000 SF that is part of a 14-acre mixed-used suburban office complex. Available office offerings can accommodate users needing anywhere from 3,000 to over 200,000 square feet of space. The well-located asset offers immediate access to Route 18 and the NJ Turnpike. The property also has an on-site Suburban Transit Bus Terminal that provides direct service to and from NYC Port Authority Bus Terminal with a planned shuttle service to the New Brunswick NJ Transit train station.
“1 Tower Center is a staple in the local skyline, and our bold renovations will transform the property into a sought-after location for years to come,” said David Elkouby, Principal of American Equity Partners. “We have a deep history in modernizing area buildings including Lincoln Place in Edison and Grande Commons in Bridgewater and believe the work we’re doing at 1 Tower Center will make the asset a first-choice among office users.”
American Equity Partners is planning a $6+ million capital improvement program for 1 Tower Center. The proposed renovations include a new HVAC system, upgraded mechanicals, common areas, and a new state-of-the-art tenant amenities center on the 15th floor. The modern amenities deck will feature views of NYC, including a fitness center with a yoga studio, a conference and training center, a social-centric tenant lounge, a coffee bar, grab-and-go café, table games, a golf simulator and a movie viewing room. The firm will also create a co-working space named Kahoots that will provide on-site flexibility for tenants looking to expand or streamline their space.
“The new 1 Tower Center will cater to the workplace of the future, offering unparalleled amenities and services to tenants,” said Jamie Drummond, Senior Managing Director of Newmark. “Our recent leasing success with both Prudential and The Siegfried Group proves that the asset is poised to attract and retain some of the area’s best firms ranging from small partial floor users to large multi-floor occupiers.”
The property has seen a recent spike in office leasing transactions with Newmark representing the landlord. Prudential Insurance Company renewed its 10,000 SF lease represented by JLL’s Jodie Matthews and The Siegfried Group signed a new 6,000 SF long-term lease represented by Cresa’s Dennis Gralla and Jim Scancarella.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (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, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’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.
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