Commercial Realty Group to Renovate NJ Headquarters
- Jan 22, 2018
Commercial Realty Group is nearing completion of a total renovation at its 36,289-square-foot office building in Parsippany, N.J. NAI James E. Hanson was retained as exclusive leasing agent for the three-story building, while Paul Newman, of Kimmerle Newman, is in charge of the new design. The newly renovated office is expected to come online in the first quarter of this year.
Commercial Realty Group acquired the property in 2016 to use as its new Morris County headquarters. The asset is adjacent to the junction of interstates 80 and 287, at 111 Littleton Road East. The complex renovation project at the 1976-built structure is meant to upgrade the building to Class A standards. Major improvements include a new façade, a new two-story atrium, increased parking space, new restrooms, common areas and bathrooms, as well as new landscaping. Other exterior upgrades include a new shell of glass and steel, and new windows.
Targeting small businesses
Commercial Realty Group occupies some 12,000 square feet on the ground floor, and the remaining 24,331 square feet of space is available for new tenants. Leases range from 1,528 square feet of divisible space to 24,331 square feet of contiguous space. The location enables immediate access to routes 80, 287 and 46, and potential tenants will benefit from exposure to these thoroughfares. A shopping mall is within walking distance of the property, as are several dining spots and a movie theater.
“Our 40 years of experience with the Morris County market gives us the insight and knowledge to create an ideal space geared towards the oft-ignored small business tenant in northern New Jersey. As an owner-operator, we are uniquely positioned to provide tenants with the hands-on service and responsiveness that marks every office property in our portfolio,” said Andrew Billing, general manager at Commercial Realty Group, in a prepared statement.
Last month, NAI Hanson brokered the $2.1 million sale of an industrial building in Elmwood Park, also in New Jersey.
Image courtesy of NAI James E. Hanson