Vision Real Estate Partners Inks Nearly 300,000 SF in Recent Leases

MOUNTAIN LAKES, N.J. - March 9, 2018 - PRLog -- Nearly 300,000 square feet in leasing activity over the past 12 months throughout the Vision Real Estate Partners (https://www.visionrep.com/) portfolio reflects sustained demand for quality Northern and Central New Jersey office space. The Mountain Lakes-based firm currently owns or operates more than 6 million square feet of existing Class A product in the regional market.

"We are seeing stepped-up leasing involving tenants making flight-to-value and quality opportunities, and significant renewal activity at properties that are positioned to offer collaborative, experiential workplaces that best appeal to today's workforce demands," noted Vision Real Estate Partners' Sam Morreale, founder and managing partner.

As part of its 12-month volume, Vision Real Estate Partners orchestrated several large, long-term transactions.

Among them, software company Billtrust leased 89,000 square feet of headquarters space at 1009 Lenox Drive, part of Princeton Pike Corporate Center in Lawrenceville. Additionally, law firm Pelletieri leased 14,000 square feet at 989 Lenox Drive. Vision Real Estate Partners, as operator for the eight-building, 817,000-square-foot Princeton Pike Corporate Center, is orchestrating a multi-million-dollar revitalization focused on enhancing the campus' distinctive work/play environment.

In addition, Vision Real Estate Partners executed a 19,500-square-foot lease renewal for long time tenant, The American Institute of Certified Public Accountants at Princeton South Corporate Center, a 268,000-square-foot campus in Ewing, NJ.

Further north, law firm Brach Eichler LLC renewed its 44,000-square-foot commitment at 101 Eisenhower, one of three adjacent buildings that Vision Real Estate Partners own on Eisenhower Parkway in Roseland. The company purchased the assets in early 2017 and is in the midst of a multi-million-dollar renovation to modernize and unify the assets as a 610,000-square-foot, 51-acre corporate campus.

In Morristown, financial services giant Wells Fargo renewed 13,500 square feet at Vision Real Estate Partners' 1776 On the Green. The company acquired the iconic, 150,000-square-foot office downtown tower at 67 Park Place East in 2017. A renovation to modernize the 10-story building is underway, including 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. Exterior work includes collaboration with the adjacent Pioneer Park improvements project.

Leasing momentum within the Vision Real Estate Partners portfolio continues, with several notable transactions in the pipeline, according to Ross Chomik, managing partner. "The Technology, Advertising, Media and Information sector and professional services organizations continue to be among the most active sectors seeking multi-tenant space in the New Jersey market," he noted. "As a company, Vision Real Estate Partners is deeply focused on establishing a competitive advantage via the creation of superior workplace environments at our owned properties and those we operate for our strategic partners."

Vision Real Estate Partners is a full-service real estate owner/operator, specializing in development, property management, asset management and construction. The firm is currently operating or redeveloping more than 6 million square feet of space in the New Jersey market. The company has over 150 acres of land parcels available for mixed-use and build-to-suit opportunities. Its 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 partners.

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