WOODBRIDGE, NJ—Onyx Equities says it leased nearly 850,000 square feet of space in 2014, with more than a quarter of a million square feet leased in the fourth quarter alone.

Onyx owns or manages more than 35 million square feet of office, retail, industrial, and self-storage properties in 10 states. In recent years the company says it has put aside more than $35 million in capital improvements, which has enabled the company to both attract new tenants and also retain existing tenants. In fact, during 2014, Onyx says it closed nearly half a million square feet in renewal leases.

“Our capital intensive program reflects our belief that, in order to compete, we need to pay close attention to what today's tenants need, including equipment, layouts, design, infrastructure and atmosphere,” said Adam Karafiol, senior vice president of leasing for Onyx Equities. “We've taken an older stock of buildings and updated these assets into properties that offer everything a high-caliber tenant looks for.”

In addition to focusing on its assets' physical features, Onyx has created a customized property management platform that allows on-site and regional management teams to streamline every aspect of their operations and communications. Functionalities include a customizable dashboard, management of receivables and payables, cash flow forecasting, tracking of leasing activities, scheduling of maintenance activities, enhanced data analysis and responding to tenant needs.

“Our ability to seamlessly combine responsive management with world-class physical attributes is the principal reason why tenants choose us and stay with us as they grow,” says Karafiol. “The success we've had results from our use of cutting-edge tools to understand everything we can about our tenants. We then work as a team to put this knowledge to use in exceeding expectations.”

Some of the noteworthy New Jersey transactions that Onyx completed during the fourth quarter include:

The renewal of telecommunications firm Avaya, (61,600 square feet) at 211 Mount Airy Road in Basking Ridge, NJ. The 282,000 square-foot, class A office building is located less than one-quarter mile from Route 287 and features a café, fitness center, conference facility and auditorium. NKGF represented Avaya in this transaction.
Sony Music Entertainment's expansion by 14,000 square feet at the 600,000-square-foot Meadows Office Complex, 301 Route 17 North in Rutherford, NJ. Recent upgrades to the property include renovations to the courtyard, parking, landscaping, exterior signage and interior common areas. In addition to a cafeteria that seats 400 people, the building features a conference center with a seminar room, a fitness center, on-site day-care and on-site management. JLL represented Sony Musicin this transaction.
The renewal of Origin Healthcare's lease (24,754 square feet), also at 301 Route 17 North. Colliers represented Origin Healthcarein this transaction.

Instant Insights /

Onyx Records Strong Q4 Performance with YTD Leasing at 850K SF

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