Summit Repositioning Raritan Plaza I
- Mar 09, 2011
March 9, 2011
By Allison Landa, News Editor
Real estate developer Summit Associates is repositioning Raritan Plaza I, a nine-story, 262,500-square-foot office property in Edison, N.J. The building, which will celebrate its 25th anniversary this year, is connected to a newly renovated Sheraton hotel and is part of the Raritan Center mixed-use complex near the New Jersey Turnpike.
“We agreed, the four of us on the leasing and marketing team, that this is an iconic office building,” Charlie Parmelli, vice president at Cassidy Turley, told CPE. Cassidy Turley is handling all promotional and leasing aspects of the property. “There are very few choices in the state where you can have a Class A building connected to a hotel that is so well located … We think that the building has location, amenities, and ownership that are second to none in the markeplace.”
The repositioning will include lobby and elevator renovations, new signage, restroom renovations and upgrades, and power-washing on the exterior, as well as security and energy-efficient lighting enhancements and touch-screen directories. Parmelli said a total dollar value for the work has yet to be determined.
“I can’t give you a number,” he said. “There will probably be a tally when things are done.”
He said the project will take the majority of the coming year. Architectural renderings have been created and currently the selection of colors and materials is under way.
Architecture and design are being handled by Charles Logan, lead project associate from The AZTEC Corp. Total Architecture. In addition to Parmelli, the leasing team also includes Warren Searles, Milt Charbonneau and Doug Twyman, all principals at Cassidy Turley.