340 Changebridge Road, Montville

VREP Launches Mixed-Use Repositioning of 27-Acre Montville Office Campus

Vision Real Estate Partners has launched the mixed-use repositioning of Montville Corporate Campus, which it acquired last summer from Bayer Pharmaceuticals. VREP is renovating one of the twin, 100,000-square-foot office buildings located at the 340-342 Changebridge Road property for multi-tenant use, and working to re-zone half the 27-acre campus for residential – with high-end multifamily specialist Mill Creek already on board as developer.

VREP is replacing the front of the three-story travertine marble office building with a stone and glass curtain wall system. The design extends the third-story forward, creating distinctive exterior angles. Metal cladding and architectural elements will carry through to the back of the structure, where a new awning will be installed.

Inside, a two-story atrium lobby will feature stone, millwork, upgraded lighting, and lounge seating with a coffee bar. VREP will create a town hall-style conference area in the extended third-floor space, and refinish elevators, bathrooms and other common areas throughout the building.

“We are taking an already institutional-quality office building and bringing it up to today’s workplace standards,” noted VREP’s Sam Morreale, founder and managing partner. “Our goal is to provide a setting that helps tenants win and keep employees; promotes productivity and success; and offers the best in design, efficiency and aesthetics.” The building features flexible, 25,000-square-foot floor plates and a 5/1,000 parking ratio.

Located on a gated, hilltop site, the campus fronts on I-80 at exit 48, just two blocks from Route 46, 1.5 miles from I-280 and three miles from I-287. “We carefully considered the highest and best use for this distinctive property,” Morreale said. “The site’s outstanding accessibility provides competitive advantage from an office leasing standpoint. At the same time, it also sits in the heart of a region recognized for its quality of life, which makes it a prime candidate for a mixed-use live/work/play environment. In fact, Montville consistently ranks high in CNN Money’s annual ranking of America’s best places to live.”

A full-service real estate investment, development and asset management company, VREP has deep roots in the Morris County commercial real estate marketplace. The company is based in Mountain Lakes, at its Mountain Lakes Corporate Center. As a classic local, hands-on owner, developer and operator, VREP is well known for its track record of identifying properties with great potential and transforming them into superior assets.

The full-service firm maintains complete in-house capabilities and partners with national and global institutions, as well as private equity. VREP currently owns and manages more than 2 million square feet of space in the region, and has over 100 acres of land parcels available for mixed-use and build-to-suit opportunities.

Related Articles: