LEG Announces Capital Improvement Plan for Newly Acquired Morristown Office Properties

On Jul 28, 2015

Morristown-based Lincoln Equities Group LLC (LEG) has commenced an extensive capital improvement plan for three Class A office properties it acquired last month in Morristown totaling over 400,000 square feet. The sweeping modernization plans for 60 Columbia Road, 1200 Mount Kemble Avenue and 100 Southgate Parkway include upgraded lobbies, new roofs and HVAC systems, landscaping and other upgrades to public amenities.

“The buildings have great ‘bones’ and we are excited to upgrade and improve them to attract additional prestigious tenants to these Class A assets,” says LEG’s Senior Director of Leasing Ken Flynn. “They are ideally located just off I-287 and Route 24, convenient to urban amenities including downtown Morristown, The Green and multiple train stations.”

The Kimmerle Group, architects based in Morristown and NYC, has been engaged to redesign the interior and exterior common spaces.  Renovations will be complete this year.

Additional detail on each property includes:

·         Columbia Office Center (60 Columbia Road):  These two, three-story adjacent office buildings, formerly known as Patriots Plaza, total 154,000 square feet with amenities that include a fitness center and cafeteria with outdoor patio seating. Tenants have the option to lease 5,000 up to 100,000 square feet of space immediately, including a 78,000-square-foot full building opportunity.

·         Harding Plaza (1200 Mount Kemble Avenue):  This 106,000-square-foot office building includes a three-story glass atrium entrance with granite finishes and on-site cafeteria. Tenants include Morgan Stanley, Regent Atlantic Capital and LG Electronics, and additional space is available.

·         100 Southgate Parkway:  This 150,000-square-foot three-story office building is home to Verizon Wireless’s northeastern headquarters and Porzio, Bromberg and Newman.

“We are pleased to have acquired three very attractive buildings in the prime Morristown market,” says Joel Bergstein, president, LEG.  “We believe we can offer potential tenants an excellent value proposition compared with similar newly renovated Class A spaces in locations like Florham Park.”

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