Colliers International Arranges Reverse Mortgage Firm in Bloomfield

On Sep 15, 2014

Colliers International has arranged a long-term lease for Reverse Mortgage Investment Trust, Inc.’s new headquarters at 1455 Broad Street in Bloomfield. The reverse mortgage provider will take 16,606 square feet on the second floor of the four-story, 94,960-square-foot office building.

The property is one of four buildings at BroadAcres Office Park, owned by BR/Prism Central Park Owner, LLC and operated by Prism Capital Partners, LLC, which recently completed a major capital improvement program to upgrade the campus grounds and lobbies. Amenities at BroadAcres include an on-site cafe, conference center, and outdoor parking.

“This Class-A space is a great fit for the growing firm, which will have more than 50 employees stationed here,” said Richard J. Madison, an Executive Managing Director at Colliers International, who represented Reverse Mortgage in the transaction. “In addition to the building’s prime location and easy access to the Garden State Parkway, Route 3, and Route 46, this space was highly appealing to the tenant as it had undergone an above standard, high-end build out by the previous tenant.”

Madison and his transaction team have arranged multiple office leases for Reverse Mortgage throughout the Tri-State region.

Principal Edwin Cohen represented Prism Capital Partners in-house.

Other tenants at 1455 Broad Street include: CSG Systems, Inc.; Frank J. Martone, PC Attorneys At Law; GAP Pension; Ultra Additives/Munzing NA L.P.; and World Finer Foods, among others.

Related Articles: