Summit Portfolio

1 & 25 Deforest and 466 Springfield, Summit, NJ
226,150 RSF

Together with MRY Associates, we made a series of office investments in the heart of the downtown Summit market all within close proximity to the Summit train station.

1 Deforest was an undeveloped land site approved for office use. A portion of the site contained the concrete structure of the prior building occupied by the Summit Medical Group. The development resulted in a Class A office building and a one level parking deck that seamlessly tied into the prior structure to create a new four-story 65,037 sf office building. The property was fully pre-leased by the time of completion including anchor tenant McKinsey & Company.

25 Deforest is a three-story 130,000 sf office building that was originally built in 1957. Upon acquisition, ownership implemented a significant capital improvement program including the full replacement of all exterior windows, the installation of a new glass canopy and entrance, along with upgrades to the building common areas, front plaza, and parking lot. The building was fully leased prior to completion of the renovation.

466 Springfield is a four-story 31,000 square foot newly constructed boutique class A office building. The building has exceptional Springfield Avenue exposure and is located directly adjacent to a municipal parking lot. The property is fully leased with the Boston Consulting Group occupying all of the office space.