COVER STORY, MAY 2006

FROM THE CITY TO THE SUBURBS
Many new office projects are being developed outside the city limits in suburban areas across the Northeast.
Lara Fuller

While an office building in a crowded city center is a draw for certain tenants, there is also much to be said about office buildings located in suburban areas. With more room to work, many developers are able to cater better to their clientele with a range of features and amenities. In addition, many of the suburban locations offer great access to interstates and airports. Northeast Real Estate Business recently took a look at four of the newest suburban office developments in the Northeast to see what these projects have to offer businesses.

Reckson University Square
Princeton, New Jersey

Reckson Associates is developing a 313,000-square-foot office building at the corner of U.S. Highway 1 and Alexander Road in Princeton, New Jersey, which is slated for completion late this year.

When completed in late 2006, the five-story office building will feature a number of unique elements. The development includes a dining facility, fitness center and teleconferencing/boardroom for tenants. Other amenities include state-of-the-art prewired optics and communications systems, riser capacity and a backup generator. Much focus is also being placed on the physical features of the building, which was designed by an in-house team at Reckson Associates. In addition to a two-story atrium, the building will feature a granite and reflective glass exterior. “With our 50 years of history, we are able to design a building that has the flexibility that attracts a variety of tenants and enables them to create efficiencies in their operations,” says Rechler.

Reckson Associates put great thought into designing a building that would accommodate the needs of different types of businesses. “Every aspect of Reckson University Square has been planned meticulously to incorporate the advanced business requirements and amenities that today’s Fortune 500 firms desire and that premier tenants have come to expect in a Reckson office building,” says Rechler. “Reckson’s onsite management team will provide the highest level of services to the tenants in the building.”

New York-based Bovis Lend Lease is the construction manager of the project and GVA Williams New Jersey is the leasing agent.

Metroplex I
Plymouth Meeting, Pennsylvania

When completed, the 23-acre Metroplex Corporate Center will bring several new office buildings to the Plymouth Meeting area. Currently, Plymouth Meeting-based Brandywine Realty Trust is working on Metroplex I, the first of three buildings at the site. The five-story office building will include 120,000 square feet of Class A space. In addition, the granite and glass building will feature a two-story interior lobby with granite flooring and a unique mesh screening. Other amenities at Metroplex I include building management featuring e-Tenants, on online tool offered by Brandywine; the service offers conveniences such as 24/7 concierge service, business providers and local resources.

Metroplex I is located near the Blue Route and the Pennsylvania Turnpike, at the intersection of Germantown Pike and Chemical Road. Public transportation is also in close proximity and the development is approximately 30 minutes from the Philadelphia International Airport. “What sets the Metroplex Corporate Center project apart from others is its highly strategic location at the nexus of two key transportation routes, Interstate 476 and the Pennsylvania Turnpike, which will be unrivaled by any other project of comparable scale and quality in the region,” says Philip M. Schenkel, regional vice president with Brandywine Realty Trust. “The tremendous accessibility of the center is just one of the many benefits tenants will take advantage of at this center.”

In addition to Brandywine, the development team includes Philadelphia-based Cope Linder Architects and Philadelphia-based Pennoni Associates Engineering. Completion of Metroplex I is expected in the first half of 2007. “In addition to Metroplex’s easy accessibility and first-class quality, the complex’s efficient building design and overall stature positions Metroplex for success,” says Schenkel.

Wall Business Center III
Wall Township, New Jersey

Sheldon Gross Realty, based in West Orange, New Jersey, has already developed several projects in the Wall Township area where it has an office. The company’s most recent project, Wall Business Center III, is expected to break ground this fall. “This is one of a series of projects designed to develop land which we owned in Wall Township,” says Sheldon Gross, president of Sheldon Gross Realty. Based on the success of its other developments in the area, Sheldon Gross Realty expects a similar outcome with the Wall Business Center.

When completed, the project will feature 275,000 square feet of space, located on Route 34, just north of the Allaire Airport. In addition to being in close proximity to the airport, Wall Business Center III will also be located between Garden State Parkway interchanges 98 and 100. While the good location will be a positive draw for tenants, there are also other interesting features at the center. “The project is located on a heavily wooded site,” says Gross. “[There are also] views of the Atlantic Ocean from the second floor offices.”

Another appealing aspect of the project goes beyond the features and amenities Wall Business Center III offers. “There is also the opportunity for prospective tenants to participate in ownership,” says Gross. All of these elements, combined with Sheldon Gross Realty’s good track record in the area, will help to make Wall Business Center III a success.

Gordon Construction is the general contractor and Sheldon Gross Realty will handle property management.

155 Tice Boulevard
Woodcliff Lakes, New Jersey

Hartz Mountain Industries is renovating the 120,000-square-foot office building at 155 Tice Boulevard in Woodcliff Lakes, New Jersey.

The first phase of the restoration project, which was completed recently, included a complete renovation of the building’s façade. The second phase of the renovation will include providing the building with an upgraded lobby and new restroom facilities.

One of the most unique features of the three-story building is the campus-like setting that surrounds it. In addition, a number of retail stores and dining options are located nearby, as well as the Hilton of Woodcliff Lake. Other features at 155 Tice Boulevard include 10,000 square feet of below-ground storage, two passenger elevators and multi-zone heating and air conditioning.

The renovation plans are part of Hartz Mountain’s recent repositioning of its 2.7 million-square-foot Meadowlands office portfolio. “The repositioning of Hartz’s office portfolio continues to deliver new and exciting tenant opportunities,” says Emanuel Stern, president and chief operating office with Hartz. “The office complex at 155 Tice Boulevard has unmatched access to regional transportation, and combining this with the renovations we have completed makes this a premier office destination.”

Located less than 2 miles from Route 17, the office building also has access to the Garden State Parkway. 155 Tice Boulevard is also 32 miles from the Newark Liberty International Airport and 13 miles from Teterboro Airport. 

©2006 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.