Rugby Realty Completes Repositioning of 300 Lighting Way in Secaucus, N.J

SECAUCUS, N.J. - Jan. 11, 2016 - PRLog -- Rugby Realty has completed its multi-million-dollar repositioning of 300 Lighting Way in Secaucus with the addition of tenant amenities including a high-tech tele-conference center, full-service cafeteria and fitness center. Commercial real estate services firm Cushman & Wakefield serves as exclusive leasing agent for the owner-occupied, 303,000-square-foot Class A office property.

Since acquiring the building in 2014, Rugby Realty has continually modernized its systems and aesthetics. Maurice Ades, principal and managing partner at the privately-held company, said, “We’ve made improvements from the roof down. The property had a good infrastructure, and we’ve been upgrading each time we build out space for a new tenant.” The recent renovations, completed in the fourth quarter of 2015, include remodeling the lobby, elevator cabs and elevator landings.

“Demand along the Route 3 corridor has exploded, and landlords have responded by presenting newly renovated, value-add properties to market,” said Cushman & Wakefield’s Curtis Foster, who with Jerry Shifrin leads the East Rutherford, New Jersey-based property leasing team. Foster noted that Northern New Jersey – and the Meadowlands in particular – is the only sub-market seeing increased activity from suburban areas such as Bergen and Morris counties.

300 Lighting Way has been repositioned as an amenity-rich workplace that can accommodate forward-thinking corporate users and growing businesses seeking to recruit and retain talent. Among the lobby enhancements is an upgraded reception area with an onsite concierge, offering tenant services ranging from booking the conference center and arranging personal training sessions at the fitness center to making restaurant reservations.

East-Hanover-based Classic Café Management operates the new cafeteria, which offers hot and cold selections, a salad bar and grab-and-go options. The tenant-only fitness center is fully equipped with cardio and strength-training equipment as well as men’s and women’s locker rooms and showers. The state-of-the-art communications center – designed to accommodate 20 to 30 people in a conference-style setting – can be converted easily to seminar seating or a classroom configuration for corporate training.

Constructed in 1988, the ten-story asset seated atop three levels of parking is located at the intersection of the New Jersey Turnpike and Route 3 in Harmon Meadow, the only multi-use community of its kind in Northern New Jersey. Tenants enjoy its numerous shopping, dining, hotel and recreation options, as well as a public transit system that provides service to Secaucus Junction rail station and the Port Authority bus terminal in Manhattan.

Shifrin indicated that the response to 300 Lighting Way’s transformation has been outstanding. “The enhancements have elevated it to a Class A-plus property, and there has been tremendous activity in the building,” he said. “We’ve been very successful in leasing this past year, and are closing in on our goal of 100% occupancy.”

Recent transactions – including Mass Mutual NY, global messaging service provider Retarus and law firms Chasan Leyner & Lamparello, PC and Waters, McPherson, McNeill, P.C. – reflect the property’s ability to accommodate a range of tenants.

According to Ades, continued growth is on the horizon for Rugby Realty. “We have made a big commitment to New Jersey and the Meadowlands, purchasing a million square feet in Secaucus and Newark over the last year and a half. We are optimistic about the future of this market, and are actively pursuing new opportunities to expand our portfolio and strengthen our presence in the region’s real estate landscape.”