Keystone Property Group announced that ProSight Specialty Insurance has signed a lease expansion of 38,031 S/F at its headquarters at APX at 412 Mt. Kemble Avenue in Morristown, New Jersey.
With this expansion, the insurance provider occupies more than 92,000 s/f at the recently renovated office property.
Keystone Property Group was represented by Mack-Cali, Keystone’s joint-venture partner on the building, in the transaction.
Marc Rosenberg and Jim Frank of Cushman and Wakefield represented ProSight in the transaction.
After acquiring 412 Mt. Kemble — now known as APX — in 2014, Keystone Property Group has commenced a comprehensive reinvestment and re-branding campaign to the three-building, 475,000 s/f property, creating Class-A headquarters.
Completed interior enhancements include new conference rooms and training centers, updated building entrances and elevators, significant expansion and equipment upgrades to the on-site fitness center, and renovations to the atrium, common areas and restrooms.
“ProSight’s significant lease expansion is a testament to the transformative improvements that we’ve made to this property, ” said Bill Glazer, President of Keystone Property Group.
“Our overarching goal was to create a place where people want to be on a daily basis – one that both enhances and reflects the lifestyles our tenants.”
ProSight has offices in New York, California and London, England.