MOUNTAIN LAKES, NJ—Nearly 300,000 square feet in leasing activity over the past 12 months throughout the Vision Real Estate Partners portfolio reflects sustained demand for quality Northern and Central New Jersey office space. The Mountain Lakes-based firm currently owns or operates more than six million square feet of existing class A product in the regional market.

“We are seeing stepped-up leasing involving tenants making flight-to-value and quality opportunities, and significant renewal activity at properties that are positioned to offer collaborative, experiential workplaces that best appeal to today's workforce demands,” says Sam Morreale, Vision Real Estate Partners founder and managing partner.

As part of its 12-month volume, Vision Real Estate Partners orchestrated several large, long-term transactions.

Among them, software company Billtrust leased 89,000 square feet of headquarters space at 1009 Lenox Drive, part of Princeton Pike Corporate Center in Lawrence Township. Additionally, law firm Pelletieri leased 14,000 square feet at 989 Lenox Drive. Vision, as operator for the eight-building, 817,000-square-foot Princeton Pike Corporate Center, is orchestrating a multi-million-dollar revitalization focused on enhancing the campus' distinctive work/play environment.

In addition, Vision executed a 19,500-square-foot lease renewal for long time tenant, The American Institute of Certified Public Accountants at Princeton South Corporate Center, a 268,000-square-foot campus in Ewing, NJ.

Further north, law firm Brach Eichler renewed its 44,000-square-foot commitment at 101 Eisenhower, one of three adjacent buildings that Vision Partners owns on Eisenhower Parkway in Roseland. The company purchased the assets in early 2017 and is engaged in a multi-million-dollar renovation to modernize and unify the assets as a 610,000-square-foot, 51-acre corporate campus.

In Morristown, financial services giant Wells Fargo renewed 13,500 square feet at Vision's 1776 On the Green. The company acquired the iconic, 150,000-square-foot office downtown tower at 67 Park Place East in 2017. A renovation to modernize the 10-story building is underway, including lobby and common area upgrades, and the creation of a third-floor amenity lounge with a coffee bar, flat-screen televisions and café-style seating. Exterior work includes collaboration with the adjacent Pioneer Park improvements project.

Leasing momentum within the Vision Real Estate Partners portfolio continues, with several notable transactions in the pipeline, according to Ross Chomik, managing partner.

“The technology, advertising, media and information sector and professional services organizations continue to be among the most active sectors seeking multi-tenant space in the New Jersey market,” Chomik says. “Vision Real Estate Partners is deeply focused on establishing a competitive advantage via the creation of superior workplace environments at our owned properties and those we operate for our strategic partners.”

Instant Insights /

Vision Inks Almost 300K SF in Recent Leases

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