Century Office Park turnaround gaining momentum
Manalpan, NJ — NAI DiLeo Bram & Co. reports high activity as the leasing agent and property management firm for Century Office Park in Manalapan. The leasing team of Marc Shein, Faith Miller and Tom Kirczow has secured five new leases so far in 2017.
The NAI Dileo-Bram team was brought in by the new ownership group in the fall of 2016 to reposition and stabilize the property after it was purchased out of foreclosure. Ownership and NAI Dileo-Bram & Co. developed a capital improvement plan including new carpeting, ceiling and lighting in all lobbies and common areas. The procurement of new tenants and the increase in existing tenant retention is a direct result of new management and new ownership’s improvement plan.
“We collaborated with ownership and property management to create a plan to update the property. The new owners have been aggressive in their approach and that is being noted by existing tenants and prospective tenants alike.” commented Kirczow.
Century Office Park is a 78,000 s/f office campus setting at 100, 200 & 300 Craig Rd. The park is close to major retail and has immediate access to Rte. 9. The tenant mix is primarily office and medical and can accommodate a wide array of tenant sizes from 800 s/f to over 11,900 s/f.
Metroplex Corporate Center
Nearing 100% Occupancy
It is expected that by the end of May, Metroplex Corporate Center in Edison will be 100% leased. The 256,000 s/f office complex is located adjacent to the Edison Twp. Train Station.
“Metroplex is in high demand. It is a great property, with experienced ownership in a desirable location.” said Robert Dinner, exclusive vice president of NAI DiLeo-Bram & Co. who leads the leasing and marketing effort for the owner, Atlantic Realty Development Corporation. The increase in occupancy has been from a combination of new tenants as well as existing tenants renewing and expanding.
Dinner added, “ Atlantic Realty has taken an aggressive approach to accommodate tenant build-out needs at below market rent”, and, “ tenants want to bring the urban feel to the suburbs by locating near train stations to expand its employee base and service clients from NYC to Philadelphia”.