JLL retained to market opportunities for corporate office space in suburban New Jersey
JLL announced today that it has been retained by new ownership as exclusive leasing agent for 101 and 103 John F. Kennedy Pkwy., two Class A office properties in the affluent New Jersey suburb of Short Hills.
101 JFK Pkwy. is a six-story, 197,196-square-foot building anchored by Franklin Mutual insurance company, Citizens Bank, Citibank, global law firm Dentons and Virtu Financial, which recently signed a long-term renewal for the entire 6th floor of the building.
103 JFK Pkwy. is a fully vacant 123,000-square-foot, four-story office building that formerly served as home to financial services company Dun & Bradstreet.
Columbia Pacific Advisors (CPA), an alternative investment firm based in Seattle, Wash., took ownership of both properties earlier this April. The company has retained a new JLL leasing team to market the properties and engaged full-service design firm Mancini Duffyto prepare designs for upgrades.
“101 and 103 JFK Pkwy. have a strong legacy as iconic suburban offices and we have a tremendous opportunity to leverage that past success as the office market in general undergoes tremendous transformation,” said Will Nelson of CPA. “We look forward to working with JLL to reintroduce the properties to tenants seeking aspirational office space in a prime location.”
A JLL team led by Executive Vice President Dan Ligorner, Executive Managing Director Tim Greiner and Vice President Mike Pietrowicz will lead the marketing efforts for both Class A properties, which overlook the Canoe Brook Reservoir just off Route 24 near the I-78, Garden State Parkway and New Jersey Turnpike.
103 John F. Kennedy Pkwy. features a four-story lobby, full-service cafe, auditorium, garage parking and panoramic views of the reservoir. According to Ligorner, it presents a tremendous opportunity for a single or large tenant to brand the building in a highly visible location directly opposite The Mall at Short Hills, one of the premier shopping destinations in the region.
JLL will soon begin marketing the remaining 34,64 square feet of divisible available space available at 101 JFK Pkwy.
“We are excited to share Mancini Duffy’s early renderings, which showcase the opportunity here to customize a prime office property for a single user under well capitalized new ownership,” said Ligorner. “101 and 103 JFK Pkwy. are ideally located in a thriving corner of the state where corporate America lives side-by-side with suburbia,and we look forward to working with ownership and the brokerage community to breathe new life into this established hub.”
Short Hills offers a 30-minute train ride to Manhattan and several banks and financial institutions have regional and corporate offices in the area, which is also known for its bucolic landscape, parkland reserves and trails. The town offers some of the best schools in the region and a highly educated workforce drawn to the picturesque downtown and strong regional connectivity. As well as its extensive road and rail networks, Short Hills is located within 15 minutes of Newark Liberty International Airport.
About Columbia Pacific Advisors, LLC
Columbia Pacific Advisors, LLC manages more than $3.7 billion across alternative investment strategies including private credit, private equity, and real estate. Columbia Pacific Advisors, LLC is headquartered in Seattle, Washington. For more information, please visit www.columbiapacific.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel,residential and retail properties. A Fortune 500® company with annual revenue of $20.9billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined withlocal expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
