Sudler’s speculative refurbishment of 10 Corporate Place South in Piscataway, a three-story ‘80s multi-tenant, 72,000 s/f office building, is paying off.
Andreia Michaels Media Companies, LLC has leased 21,768 s/f and Rutgers signed a lease for 13,300 s/f, bringing the office building that was 79% percent vacant months ago to nearly 100% percent occupied.
The leases were secured shortly after Sudler refreshed the lobby and common areas with cost-effective but impactful finish upgrades, including new wall coverings and paint.
Additional fixes included refinishing all common doors, upgrading sinks and countertops in common bathrooms, replacing carpeting in hallways, adding new lighting throughout and installing updated tenant directory signage in the lobby.
Sudler also funded tenant improvements that included repainting and carpeting, and furnishing all new tenant suite entrance doors in addition to installing energy efficient lighting fixtures, an improvement that will ultimately have a positive effect on both Sudler’s and its tenants’ bottom lines.
“Even when this market was still sluggish, we saw the potential on the horizon,” said Peter Sudler, president and CEO of The Sudler Companies.
“We made the strategic decision to upgrade this property in advance of the impending market improvement – so that we would be in a position to attract new tenants ready to invest in their businesses when the recovery gained traction.”
Also within Corporate Park 287 is 2 Corporate Place South, a one-story, 133,000 s/f building that can be fitted to suit for a corporate HQ client that needs the entire building or divided for several companies.
The building features 13 foot high ceilings, center atrium with white travertine marble cladding, and its landscaping and parking lot are all newly refurbished. The landlord was represented by Sitar Realty Company and Rutgers was represented by Byron Real Estate Co., Inc.
The landlord and Andreia Michaels Media Companies, LLC both represented themselves.
Other notable transactions at 10 Corporate Place South include a 2,535 s/f lease to COA Networks Inc., which was represented by Cassidy Turley, a 1,575 s/f lease to International System Technologies, Inc. and a 4,500 s/f lease to Transaction Publishers Inc. also represented by Sitar Realty Company.