Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza, Suite 1100
East Rutherford, New Jersey 07073
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Release Date: Wednesday, May 07, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Former Roche Site Repositioned as Multi-Tenant, with Two HQ Leases in Place
CLIFTON, N.J., May 7, 2014 – A well-attended broker reception this spring highlighted the transformation of 1255 Broad Street in Clifton to a multi-tenant campus. The 194,000-square-foot former Roche facility is now home to the U.S. headquarters operation of Comodo Group, Inc. and regional headquarters for URS Corporation; Cushman & Wakefield, which co-hosted the event with property owner Normandy Real Estate Partners, is marketing the balance of the property for lease.
According to Cushman & Wakefield's David DeMatteis (left) and Marc Trevisan (right), who are based at the commercial real estate services firm's East Rutherford, New Jersey office, approximately 50 industry professionals came out to tour the property. DeMatteis noted that the one-year anniversary of Roche vacating the building provided a perfect opportunity for the brokerage community to see 1255 Broad Street up and running as a multi-tenant environment for the first time.
"The building is constructed with 20,000-square-foot floor plates in pods that have their own lobbies and building systems," DeMatteis explained. "This distinguishes the property from a flexibility standpoint. For example, a tenant with a 40,000-square-foot requirement can have a private headquarters identity either horizontally or vertically, each with all the benefits of a campus environment. A tenant needing 20,000 square feet can have a full floor with great window lines that support today's popular open office layout. Each floor also is easily divisible. This means we can accommodate tenants requiring less office space and still provide them with great visibility; a tenant needing 5,000 square feet could have a double glass entry door off one of the main lobbies."
Tenants at 1255 Broad Street all benefit from the Class A property's location at the intersection of the Garden State Parkway and Route 3; strong ownership; and onsite amenities including an executive garage, cafeteria, conference center, fitness facility with locker rooms and showers, and climate-controlled storage space. DeMatteis noted that one prominent building signage opportunity remains available for a large user.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, NJ with offices in Boston, New York City and Washington, D.C. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments. Normandy's existing portfolio includes over 15 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, Los Angeles, San Francisco, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit www.normandyrealty.com.