A joint venture partnership between affiliates of Vision Real Estate Partners and Rubenstein Partners, L.P. today announced that Everest Reinsurance Company has signed an approximately 315,000 s/f, long-term lease to relocate the corporate headquarters of its U.S. operations to Warren Corporate Center in Warren, N.J.
In relocating to Warren Corporate Center, Everest is expanding its headquarters by more than 80,000 square feet. The company will occupy 100 and 200 Warren Corporate Center Drive, soon to be renamed Everest Way, within the next 18 months.
CBRE’s Eric Deutsch and Jeff Babikian represented Everest, while Cushman & Wakefield’s Robert Donnelly, Sr. and Robert Donnelly, Jr. represented building ownership in the lease transaction.
The announcement comes on the heels of the property ownership’s completion of Warren Hill, an indoor-outdoor standalone amenities hub that has mobilized Warren Corporate Center’s transformation into a modern, hospitality-inspired work environment.
Following the acquiring of the 176-acre, five-building campus came the development of Warren Hill, the campus’ 20,000-square-foot lifestyle center, which features an outdoor amphitheater; indoor and outdoor patio dining; multi-function conference areas; a full-service cafe with coffee bar; a state-of-the-art fitness center with locker rooms; and a full-size indoor basketball court. The amenities hub sits at the center of the campus and includes an outdoor roof deck for employee’ use.
Warren Corporate Center currently offers 510,000 s/f of availability, which Vision and Rubenstein are actively marketing.
“Our modern workforce demands high-quality office space, which includes exceptional amenities in an environment that activates and echoes their dynamic lifestyles,” said Sam Morreale, founding and managing partner of Vision Real Estate Partners. “When thoughtfully programmed, suburban campuses like Warren Corporate Center can provide tenants and their talent with the ideal mix of full-service amenities and desirable outdoor spaces – a balance that is difficult to achieve in a more urban location.”
Rubenstein and Vision have collaborated on Warren Hill and the other elements of their business plan for the property while a large existing tenant has continued to occupy a majority of the campus. That tenant is working through a phased relocation, creating the opportunity for new tenants to move into the updated campus.
Originally built as a headquarters for Lucent Technologies, Warren Corporate Center comprises more than 820,000 square feet of office space across five buildings surrounded by walking trails, a landscaped pond with amphitheater seating, and four covered parking structures.