Vision Real Estate Partners is a full-service real estate owner/operator, specializing in development, property management, asset management and construction. The firm 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. Vision Real Estate Partners owns more than 6 million square feet of space, is currently developing more than 2 million square feet of new experiential workplaces, and has over 150 acres of land parcels available in the region for mixed-use and build-to-suit opportunities. Vision’s in-house property management team also oversees property management, financial reporting and overall operational supervision for nearly 1.5 million square feet of office space on behalf of multiple strategic partners.
[toggle title=”News Releases”]
Release Date:
December 18, 2018Release Date:
May 14, 2018Release Date:
April 27, 2018Release Date:
April 26, 2018Release Date:
March 28, 2018[/toggle]
[toggle title=”Fact Sheet”]
Facts 2019
Vision Real Estate Partners
1 Bloomfield Ave
Mountain Lakes, NJ 07046
visionrep.com
COMPANY OVERVIEW
Vision Real Estate Partners is a full-service real estate owner/operator, specializing in development, property management, asset management and construction. The firm 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. Vision Real Estate Partners owns more than 6 million square feet of space, is currently developing more than 2 million square feet of new experiential workplaces, and has over 150 acres of land parcels available in the region for mixed-use and build-to-suit opportunities. Vision’s in-house property management team also oversees property management, financial reporting and overall operational supervision for nearly 1.5 million square feet of office space on behalf of multiple strategic partners.
HISTORY AND PHILOSOPHY
Launched in 2013, Vision Real Estate Partners focuses on value-add, opportunistic, and select core and core-plus investment activities. The firm continues to build a track record of identifying properties with great potential and transforming them into superior assets. It maintains complete in-house capabilities and partners with national and global institutions, as well as private equity. Vision Real Estate Partners has distinguished itself with its entrepreneurial approach and institutional pedigree, and by embracing the win-win nature of public/private partnerships that combine shared vision, expertise and teamwork excellence. The company leverages its experience, relationships and hands-on approach to provide highly desirable real estate for tenants, sound financial investments for its partners, and performing, quality ratables for its hosting towns and municipalities.
PORTFOLIO HIGHLIGHTS
Warren Corporate Center (Warren, N.J.) – Vision Real Estate Partners and Rubenstein Partners acquired this 820,000-square-foot Somerset County campus in 2016 and are spearheading its introduction as a multi-tenant business park. The 176-acre, five-building property off I-78 (Exit 36) was originally developed in 1996 as the headquarters of Lucent Technologies. In 2004, Citibank leased the property and still occupies four buildings, with the fifth available for lease. The ground-up development of a 19,000-square-foot, stand-alone amenity hub highlights the transformation and marks the partnership’s latest experiential workplace milestone. Complementing the property’s existing array of amenities, the new building will include indoor and outdoor patio dining; multi-function conference areas; a fitness center with locker rooms; and a full sized indoor basketball court. A green roof will provide sustainability and unify the project’s multi-level, indoor/outdoor aesthetic with seating and event space for social and business gatherings. An outdoor amphitheater and walking paths will surround a bucolic pond.
Columbia Road Campus (Morris Twp.) – In a strategic play that will introduce up to 715,000 square feet of premier, build-to-suit corporate headquarters opportunities, Vision Real Estate Partners and a partner firm in 2017 acquired 64 acres of the former Honeywell headquarters campus on Columbia Road (Route 510). Approved for office, research and laboratory development, this key development site offers proximity to downtown Morristown, the Convent Station and Morristown train stations, Morristown Jetport, and major regional thoroughfares. The Columbia Road Campus will serve as a benchmark for custom, state-of-the-art workplaces focused on promoting collaboration and sustainability. It enables the delivery of LEED- and WELL- designed, technologically advanced buildings incorporating every imaginable lifestyle amenity, along with redundant power and structured parking. This sizable aggregation enables Vision Real Estate Partners to continue its contribution to the reinvention of New Jersey’s suburban office product.
1776 On The Green (Morristown, N.J.) – The 2017 acquisition of 1776 On The Green expanded Vision Real Estate Partners’ regional commitment into the downtown Morristown office market. Its plans for the iconic, 150,000-square-foot office tower – including collaborating with the adjacent Pioneer Park improvements project – are in with the company’s signature approach to selective acquisitions and ongoing commitment to public/private partnership. Located at 67 Park Place East, 1776 On The Green is a well-leased, historically significant core asset located on the Morristown Green at the corner of Speedwell Avenue, in the heart of New Jersey’s premier suburban live/work/play CBD. An in-progress renovation to modernize the 10-story structure includes lobby and common area upgrades, and the creation of a third-floor amenity lounge with a coffee bar, flat-screen televisions and café-style seating. The building sits on top of a parking garage shared with the adjacent Headquarters Plaza.
Municipal Partnerships:
Vision Real Estate Partners’ involvement in the Whippany section of Hanover Township provides a benchmark example of the firm’s commitment to public-private partnership. The company in late 2016 wrapped up a pioneering, five-and-a-half-year joint venture initiative with Rubenstein Partners that successfully repurposed and redeveloped a 194-acre former Alcatel-Lucent campus at 67 Whippany Road. The property today houses Bayer Healthcare’s BTS East Coast Headquarters and MetLife Investments’ BTS Global Headquarters. And, in 2017, the sale of The Crossings at Jefferson Park to its anchor tenant, Barclay’s Capital, completed the transformation of this 525,000-square-foot suburban office campus. Vision Real Estate Partners and Rubenstein Partners purchased the Crossings property, located at 115 South Jefferson Road, in 2013. The firms immediately launched a multi-million-dollar revitalization and rebranding of the 65-acre campus, with a redesign specifically focused on promoting health, wellness, and sustainability. Together, 67 Whippany Road and The Crossings represent $500 million in total investment volume and 1.9 Million square feet of existing and approved corporate space – a boon to the local, regional and state economies. Both projects reflect the New Jersey development community’s successful efforts to further the state’s appeal to major corporations; today they house approximately 5,000 permanent jobs.
For additional highlights, visit www.visionrep.com/portfolio.
EXECUTIVE LEADERSHIP
Sam Morreale, founder and managing partner, guides the company’s overall direction and progress. He develops investment strategies and business plans for all of Vision Real Estate Partners’ assets and investments, in addition to seeking new business opportunities. Immediately prior to forming Vision Real Estate Partners, Sam was the co-founder of Vision Equities, LLC, from which the firm evolved. Before the inception of Vision Equities in 2006, Sam spent 10 years as one of the original senior members of the Goldman Sachs Whitehall Operating Company, which owned and operated over 15 million square feet of commercial real estate in the Northeast. Before joining Goldman, he worked for two of the largest owners/developers in the New Jersey, Philadelphia and New York markets and managed their leasing and development teams.
Ross M. Chomik, managing partner, oversees Vision Real Estate Partners’ operations, development, redevelopment, acquisitions and leasing functions. In this role, he spearheads the business planning, strategy and planning of those functions. Throughout his career, Ross has been involved in the acquisition, development and leasing of over $800 million in office, industrial and retail properties and portfolios. He has directed the development, redevelopment, and leasing of over 3 million square feet of properties encompassing over 400 acres. Previously, Ross served as director of acquisitions and development for Vision Equities. He has an extensive background in commercial real estate finance and analytics.
[/toggle]
[toggle title=”Events”]
[/toggle]
Website: www.visionrep.com/