Rebranding of Montville Office Building Sparks Leasing Interest
Cushman & Wakefield reports that the recent signing of two anchor tenants at the property are clear signs that the rebranding initiative at the property is paying dividends.
MONTVILLE, NJ—A multi-million-dollar rebranding initiative at Real Capital Solutions; 340 Changebridge Road here has yielded tangible benefits, chiefly in the form of two significant recent lease deals and increased tenant interest in the 109,000-square-foot office building.
Cushman & Wakefield reports that the recent signing of two anchor tenants at the property are clear signs that the rebranding initiative at the property is paying dividends.
In July, it was announced that cooling and heating solutions firm Fujitsu General America, Inc. had signed a 32,000-square-foot lease at the building that is now known as MountainRidge at Montville. In addition, the brokerage states that Cambridge Silversmiths Ltd., a flatware designer and manufacturer, moved its headquarters to 19,000 square feet at the property earlier this year.
Cushman & Wakefield’s Curtis Foster and Jerry Shifrin, based in the commercial real estate services firm’s East Rutherford, NJ office, serve as exclusive leasing agents for MountainRidge at Montville, which is part of a former Bayer Pharmaceuticals campus.
“Our ability to draw these two credit tenants stems directly from the investment that Real Capital Solutions has made within Building 200 on the site,” Foster says. “What was previously a single-tenant property has been reimagined to suit today’s multi-tenant requirements.”
The building features a newly designed, two-story atrium lobby and completely renovated common areas—including bathrooms and elevator cabs. Outside, the property has a new three-story curtain wall façade, along with entry hardscaping, site landscaping and improved lighting.
Both Fujitsu General America and Cambridge Silversmiths relocated offices previously combined with local warehouse operations, which was an opportunity afforded by MountainRidge at Montville’s location, according to Shifrin.
“Eastern Morris County and western Passaic County along I-80 and Route 46 is a great warehouse market, supported by easy access to main thoroughfares, just 30 minutes from Newark Liberty International Airport,” he notes. “Where consolidation has been a trend for many years, we are now beginning to see operations separate—but with the desire to maintain proximity. 340 Changebridge Road is a great Class A option for that, and our recent leases illustrate what we anticipate will be an ongoing trend.”
Cushman & Wakefield is currently marketing approximately 50,000 square feet at MountainRidge at Montville, including a 32,500-square-foot, full-floor opportunity. An additional lower level provides an ideal setting for a laboratory or large storage requirement, the brokerage firm notes.