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International Finance Giant Purchased Class A Asset in mid-2017 from Vision Real Estate Partners/Rubenstein Partners JV
WHIPPANY, N.J., Aug. 24, 2018 – Vision Real Estate Partners has completed Phase 1 of a multi-million-dollar retro-fit and expansion of Barclays Village, formerly The Crossings at Jefferson Park, in Whippany for owner/occupier Barclays Capital. The capital improvement centered on renovating the 175,000-square-foot, four-floor Building 400 and the stand-alone amenities center – Building 100 – within the 65-acre property. Barclays Capital will now employ more than 1,500 employees at the Class A suburban office campus at 115 South Jefferson Road.
Barclays Capital purchased the multi-tenant, 525,000-square-foot campus from the joint venture partnership of Vision Real Estate Partners and Rubenstein Partners in June 2017. An anchor tenant at the time of purchase, Barclays Capital retained Vision Real Estate Partners to head the capital improvement program. At the recent ribbon-cutting ceremony, Jes Staley, Group CEO of Barclays Capital, and Paul Compton, COO of Barclays Capital, along with Ross Chomik, Sam Morreale and Chris Galipo of Vision Real Estate Partners were joined by state and local dignitaries.
“Barclays Village continues to serve as an ideal example of the reinvention of New Jersey’s suburban office market and our work at Vision in creating distinctive work/play environments,” said Ross Chomik, managing partner of Vision Real Estate Partners. Based in Mountain Lakes, Vision Real Estate Partners is a full-service real estate owner/operator, specializing in development, property management, asset management and construction.
“We are pleased to celebrate the ribbon-cutting ceremony with Barclays and state and local leaders and proud of the ever-evolving success of this transformed asset,” added Chomik. JV partners Vision Real Estate Partners and Rubenstein Partners purchased the asset in 2013 and immediately launched a multi-million-dollar revitalization.
As part of its recent retro-fit and expansion for Barclays Capital, Vision Real Estate Partners completed a gut renovation of Building 400, installed a new façade and added a 1,100-space parking deck behind the building. Furthering the office complex’s work/play environment, Building 400 now features modern offices and collaborative workspaces as well as a pool table, game room and a salon.
The newly renovated Building 100 includes expanded gourmet dining facilities and farmer’s market offerings, a new 10,000-square-foot day care center and a 6,000-square-foot fitness/wellness center with state-of-the-art equipment and massage therapy facilities. “Barclays Village epitomizes the best in a lifestyle-focused workplace that promotes wellness and collaboration,” added Chomik.
Vision also redesigned the landscaping and connecting walkways for Buildings 400 and 100. Barclays Village features a bike share station and bike storage, and 1.3 miles of pedestrian and bicycle infrastructure – which connects directly to Morris County Parks Commission’s Patriots Path.
Vision Real Estate Partners is well known for its deep roots and experience in the New Jersey/New York regional marketplace, and for its pioneering creation of “experiential” suburban campus environments combining work, play, well-being and sustainability – designed for today’s cross-generational workforce.
Evelyn Weiss Francisco