KBS REIT II Signs 120,000+ Sq. Ft. in Leases at Park Avenue at Morris County

On Nov 21, 2014

KBS Real Estate Investment Trust II (KBS REIT II), a non-traded real estate investment trust based in Newport Beach, Calif., announced the signing of 124,715 square feet in leases with Greenberg Traurig LLP and Jacobs Levy Equity Management, among others, at Park Avenue at Morris County, a six-building property strategically located near the intersection of Columbia Turnpike and Park Avenue.

KBS REIT II has been upgrading and adding amenities at the park to improve the tenant experience at this trophy-quality asset in suburban New Jersey. Among the features is a fleet of private shuttles that service local amenities and provide access to the Madison New Jersey Transit Rail Station. Also incorporated is a new fitness center complete with an aerobic studio, massage therapy room, cross fit station, athletic trainers and a physical therapist. Tenants can coordinate access to the park’s amenities and services, via a new Park Avenue at Morris County mobile app.

“As we roll out new amenities at the park, we have experienced a considerable amount of leasing activity. The first phase of our amenity program is now completed and we look forward to providing additional amenities and services in the near future.  We believe the park’s above standard amenities and services contributes to distinguishing Park Avenue at Morris County among its Class-A office property peers in this marketplace,” said Shannon W. Hill, KBS senior VP/Market Leader. “We consider our commitment to tenant services a deciding factor in these companies’ choice of Park Avenue at Morris County.”

Other amenities at Park Avenue at Morris County include a new conference center, an upgraded dining facility and electric car charging stations.

Jeffrey Heller and William McCaffrey of Avison Young represented KBS REIT II in these leases.  Greenberg Traurig was represented by David Simson and Kevin Murphy of Newmark Grubb Knight Frank and Jacobs Levy Equity Management was represented by Robert Rencarge of American Properties Realty, Inc.

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