BASKING RIDGE, NJ—Renovations at The Offices at Liberty Corner in Basking Ridge have paid off for its owner, The Silverman Group. The complex, which includes 110, 106 and 150 Allen Road is enjoying strong leasing.
Cushman & Wakefield, which is the exclusive leasing agent for the property, says 106 and 150 Allen Road are fully occupied, and Cushman & Wakefield is marketing remaining units ranging from 5,000 to 75,000 square feet at 110 Allen Road.
The activity at the property reflects overall improved leasing velocity in the Somerset County market as well as the property’s improved competitive positioning following the completion of extensive capital improvements there, says Cushman & Wakefield.
Cushman & Wakefield’s Morristown-based marketing team headed by Bill Brown, Ben Brenner and MariaGrace Iantosca, is responsible for leasing at the 527,000 square-foot complex.
Most recently, Skyworks Solutions, Valiance, and Limetree Bay Terminals joined the tenant roster at 110 Allen Road, while Major, Lindsey & Africa, and Hess Corporation leased space at 106 Allen Road. A recent renewal and expansion by Light Speed Technologies at 150 Allen Road, and renewals by Brillio and Strohmeyer & Arpe Company, at 110 and 106 Allen Road, respectively, reflect the property’s success in retaining tenants. The renewals, expansions, and new deals totaled 115,000 square feet.
“The Silverman Group has continued to add services and facilities to enhance quality of life at The Offices at Liberty Corner and the volume of new leases and renewals ties directly to the resulting, outstanding work environment,” says Brown. “This landlord is dedicated to accommodating tenant needs for quality accommodations and providing the type of highly amenitized environment that helps employers attract the best talent.”
Previously, the company upgraded food service and renovated the cafés at all three buildings as well as completed a lobby renovation at 106 Allen Road. The firm also added a new conference facility at 150 Allen Road, and a tenant lounge with a pool table at 110 Allen Road. Additionally, new outdoor seating areas at 106 and 110 Allen Road, a basketball court and a mile-long walking path around the campus perimeter encourage enjoyment of the property’s bucolic grounds.
Simultaneously, regional office leasing has strengthened over the last couple of years. “The I-78 corridor office market has gained momentum,” Brenner says. “Basking Ridge, in particular, is a long-time target destination for the pharmaceutical, communications, technology and FIRE industries. The region’s deep and skilled labor pool and executive housing options continue to place it among the state’s most desirable suburban office markets.”
Located at Exit 33 of I-78, The Offices at Liberty Corner is located in an upscale neighborhood, with numerous retail, dining and hotels nearby.