Soma Capital Partners signs 20,435 s/f in leases at class A office building in Roseland, NJ
ROSELAND, NJ — Following a multi-million dollar capital improvement campaign, 5 Becker Farm Rd. is seeing a major uptick in leasing activity. In the last several weeks, San Francisco-based Soma Capital Partners (SCP), owner of the property, has signed 20,435 s/f of leases at the class A office building.
“We have seen incredible leasing velocity which is a direct result of the investment we recently made in the property, and the intensive, hands-on management of Accordia Realty,” said David Smith, partner at SCP.
Accordia Realty Ventures (Accordia), the firm that also oversaw the repositioning, agrees.
“The ownership team had a vision for this property and they were spot on,” said principal Joe Romano. Leasing activity includes:
• The law firm of Curcio Mirzaian Sirot signed on for 6,354 s/f
• ProTravel International has signed a renewal for 4,779 s/f
• Zolfo Cooper, a leading independent provider of restructuring, financial and corporate advisory solutions, has taken 3,556 s/f
• Wealth Health signed a 3,161 s/f renewal and expansion
• Safe Drive Systems, developer and distributor of collision avoidance and lane departure warning systems, has taken 2,575 s/f
Renovations, which include an updated lobby, common areas and elevators as well as a repaved parking lot and new HVAC system, breathed new life into the building. Prospective tenants noticed – driving occupancy from 66% in November to 78% today.
Added Romano, “Given the generally sluggish nature of many submarkets, this represents an incredible amount of leasing activity in a very short time frame.”
The 118,139 s/f 5 Becker Farm Rd. is located on 8.5 acres within 280 Corporate Center, in Roseland, NJ – one of the most desirable office locations in Northern New Jersey. Consisting of four floors, the building offers magnificent views of the manicured grounds and features all the modern conveniences tenants today are looking for including an onsite, full-service cafeteria; building security; daycare center; ample parking; and bus service to Newark and surrounding areas.Adjacent to quality “bedroom communities” that provide direct access to the four-way cloverleaf interchange at I-280 and Livingston Ave., and with excellent access to New York City and Newark Liberty International Airport, convenience is perhaps the property’s best feature.
CBRE’s Dan Casey and Jeremy Neuer are the exclusive leasing agents for 5 Becker Farm Rd.