Handling the assignment will be TCC vice presidents Karen Iman and John Shelly, both in the firm's local office. TCC's main New Jersey office is located in Florham Park.
"This is one of the strongest office markets in the country," Iman says. "This is an area where location is the primary consideration for office users, and the space is sure to move quickly."
The building is owned by Carnegie Investors LLC, an affiliate of BPG Properties Ltd., which acquired it recently for an undisclosed price. BPG itself is an operating affiliate of the Philadelphia-based Berwind Property Group.
According to Iman, the asset is currently 60% vacant, with a total of 80,000 sf available for lease on its third and fourth floors. The building's largest current tenant is the Bank of America, which occupies approximately 45,000 sf.
BPG is also planning a makeover of the common areas of the building, which was designed by noted architect J. Robert Hillier and built in the mid-1980s. Renovation plans are in the works for a new lobby and upgrades of 301 Carnegie's other common areas. The plans also call for renovating and restarting a landmark fountain in the front of the building, along the main entry into Carnegie Center.
The site also has room for expansion. According to BPG officials, the company is currently in the process of entitling a build-to-suit opportunity for a separate building of up to 100,000 sf.
BPG also plans to include the renovated building in its BPG Regional Elite portfolio, a group of properties so-named because of their amenities package. BPG's overall portfolio is currently made up of more than 35 million sf of office, multifamily, retail, hotel, student housing and industrial properties throughout the US.
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