Project aims to draw new tenants, renewals at office park
Diversified Management Plus was tapped six months ago to serve as asset and property manager for Eisenhower Park in Roseland, a three-building complex with 600,000 square feet.
Now, DMP is getting ready to oversee a multimillion dollar renovation at 101, 103 and 105 Eisenhower Parkway, the firm announced May 12.
The start of the project follows lease agreements with two prominent New Jersey law firms: Brach Eichler LLC and Chiesa Shahinian & Giantomasi PC. The former renewed its agreement at 101 Eisenhower Parkway in April, adding approximately 9,000 square feet of space for a total of almost 56,000 square feet, DMP said. Before that in January, CSG signed on for a long-term arrangement that will see it occupy the entire north wing — 116,000 square feet across four floors — at 105 Eisenhower Parkway. The firm announced it would establish a new headquarters in Roseland at the beginning of the year. At the time, CushWake Executive Vice Chair Robert Donnelly, who represented CSG along with Raymond Trevisan, commented, “CSG Law has seen explosive growth over the past five years and this new lease will give them room to continue their expansion.”
In addition to CSG, Cushman & Wakefield also represented Brach Eichler as tenant broker in its transaction in Roseland.
According to DMP, deals like these speak to the efforts of the reinvestment strategy at the property where the Lakewood-based property management company works alongside Newmark, Eisenhower Park’s exclusive leasing agent.
“We are very proud of the prominent transactions we are supporting at Eisenhower Park; these latest commitments are especially significant as they reflect an uptick in overall demand following a challenging period for the suburban office sector,” DMP Asset Manager Dawn Arrabito said. “This Class A campus boasts an outstanding in-place tenant mix, with many companies that have long-standing histories with the property. And now, we will be working to secure its competitive position by modernizing spaces and improving tenant services.”
The project will bring extensive renovations to the properties’ interiors, including a complete redesign of the atrium lobby and common areas, the addition of a fitness center and an updated café for 101 Eisenhower Parkway. CSG is finishing up a major retrofit of its new space at 105 Eisenhower Parkway, while DMP said it will update the building’s shared lobby and common areas.
Outdoors, gathering spaces, landscaping, signage and parking lots are already undergoing enhancements.
The 51-acre Eisenhower Park complex is located off of Exit 4 from Interstate 280, near the junction of Interstate 287, offering easy access to North Jersey roadways, regional thoroughfares and proximity to Newark International Airport and retail, dining, hospitality and entertainment options."