{"id":1004140878,"date":"2016-04-01T10:24:07","date_gmt":"2016-04-01T18:24:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004140878"},"modified":"2020-05-11T04:32:21","modified_gmt":"2020-05-11T12:32:21","slug":"rubenstein-vision-real-estate-shell-out-136m-for-warren-corporate-center-in-n-j","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rubenstein-vision-real-estate-shell-out-136m-for-warren-corporate-center-in-n-j\/","title":{"rendered":"Rubenstein, Vision Real Estate Shell Out $136M for Warren Corporate Center in N.J."},"content":{"rendered":"

By Ioana Neamt<\/em><\/p>\n

\"Warren<\/a>

Warren Corporate Center, N.J.<\/p><\/div>\n

New York<\/strong>\u2014Rubenstein Partners<\/a> joined forces with Vision Real Estate Partners<\/a> to acquire Warren Corporate Center, a four-building, 820,000-square-foot office asset in Warren, N.J., from Northwestern Mutual Real Estate<\/a>.<\/p>\n

The $136 million transaction was arranged by a CBRE<\/a> team comprising Jeffrey Dunne, Kevin Welsh, Brian Schulz and Jeremy Neuer. Jim Gunning and Donna Falzarano of CBRE\u2019s Debt & Structured Finance Group also secured a $123 million term loan\u2014a portion of which is available for future tenant improvements and leasing commissions.<\/p>\n

\u201cWe focus on value-added investments in the office sector, and we believe that, together with our partner Vision Real Estate Partners, we can significantly improve the appeal of Warren Corporate Center while increasing and diversifying its occupancy,\u201d Stephen Card, principal & regional director of Mid-Atlantic operations for Rubenstein Partners, said in prepared remarks.<\/p>\n

Situated on a 176-acre site in northern New Jersey, directly off the I-78, Warren Corporate Center is a five-building, 4-story office campus originally developed as the headquarters of Lucent Technologies back in 1996. Citibank leased the property in 2004 and invested in amenity and infrastructure upgrades.<\/p>\n

Warren Corporate Center incorporates a plethora of amenities, including three fitness centers, three full service cafeterias, a day care center, and 4\/1,000 square-foot parking. The property offers easy access to I-287, Routes 202\/206 and Route 22.<\/p>\n

\u201cThe acquisition of Warren Corporate Center provides Vision and Rubenstein with a premier office asset offering the opportunity to create a multi-tenant environment and potential for further modernization to meet the demands of today\u2019s tenants,\u201d Jeffrey Dunne noted. \u201cMany businesses are seeking modern generation work environments that will attract and retain top talent.\u201d<\/p>\n

Image courtesy of Rubenstein Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A joint venture between Rubenstein Partners and Vision Real Estate Partners has acquired a four-building office property in Warren, N.J.<\/p>\n","protected":false},"author":192,"featured_media":1004140880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,1600,21742,10,21747],"tags":[],"class_list":["post-1004140878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-new-york","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"\nRubenstein, Vision Real Estate Shell Out $136M for Warren Corporate Center in N.J. - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/rubenstein-vision-real-estate-shell-out-136m-for-warren-corporate-center-in-n-j\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rubenstein, Vision Real Estate Shell Out $136M for Warren Corporate Center in N.J.\" \/>\n<meta property=\"og:description\" content=\"A joint venture between Rubenstein Partners and Vision Real Estate Partners has acquired a four-building office property in Warren, N.J.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rubenstein-vision-real-estate-shell-out-136m-for-warren-corporate-center-in-n-j\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-01T18:24:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-11T12:32:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Warren-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"765\" \/>\n\t<meta property=\"og:image:height\" content=\"425\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rubenstein-vision-real-estate-shell-out-136m-for-warren-corporate-center-in-n-j\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rubenstein-vision-real-estate-shell-out-136m-for-warren-corporate-center-in-n-j\/\",\"name\":\"Rubenstein, Vision Real Estate Shell Out $136M for Warren Corporate Center in N.J. - 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