Real Estate Weekly
Image default
Deals & DealmakersFeatured

Kushner taps JLL to lease corporate office building in NJ’s top-performing office market

Kushner Companies, one of the Northeast’s leading privately held real estate organizations, has retained JLL as the exclusive leasing agent for 18 Columbia Tpk., a 159,058 square feet Class A office building in Florham Park, NJ.

Built by Kushner in 2001 and originally designed as their headquarters, the three-story 18 Columbia Tpk. is a fully amenitized property which offers tenants an on-site cafeteria, outdoor patio, fitness center, on-site management and executive covered parking. It is situated between Morristown, Livingston and Summit, and is minutes from the Livingston Mall, the Mall at Short Hills, and downtown Florham Park with its plethora of restaurants, retail, banking and hotels.

The property’s convenient location along the Columbia Turnpike provides easy access to Route 24, 10 & 287, the New Jersey Turnpike and Newark International Airport and there are multiple branding opportunities at the highly-visible building.

Ira Bloom, director of commercial real estate for Kushner Companies, said, “18 Columbia Turnpike’s central location in Florham Park has always been key to its appeal. JLL’s local market knowledge and extensive service platform will provide enhanced reach into the tenant market as we extend our proactive leasing and retention program, and we are excited to welcome them on board.”

JLL managing director Blake Goodman, senior vice president Kelsey Nakamura and associate vice president Matt Loughlin will lead the agency leasing team. Current availabilities at the property include 27,840 square feet on the 3rd floor, with the ability to accommodate requirements up to 80,000 square feet.

“18 Columbia Turnpike has maintained an exceptional tenancy thanks to its desirable location, position in the market and responsive ownership, which has always displayed astute awareness of the needs of its tenants,” said Goodman. “We are thrilled to join Kushner Companies to market and lease this distinct property offering premium, competitively priced office space for employers who prioritize their workers wellbeing.”

Located in the affluent suburban township of Florham Park, 18 Columbia Tpk. is part of a three-building corporate campus developed by Kushner at the start of the new millennium. It has maintained a strong tenancy throughout and today’s major tenants include law firms Saiber, McGivney, Kluger, Clark & Intoccia, P.C. and Stifel.

According to JLL’s 3Q 2022 New Jersey Office Insight report, the Route 24 corridor has been a stalwart of the pandemic office market, maintaining stable vacancy and rents, despite market turmoil. Class A average asking rents continued to hold steady at $33.79 psf over the past two quarters.

Related posts

Avison Young arranges 99-year ground lease for an estimated $21.5 million


Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building


AI and cloud adoption propel data center demand to record levels for 2023