A joint venture partnership between affiliates of Mountain Lakes-based Vision Real Estate Partners and Rubenstein Partners announced that Everest Reinsurance Co. has signed an approximately 315,000-square-foot, long-term lease to relocate the corporate headquarters of its U.S. operations to Warren Corporate Center in Warren.
In relocating, Everest is expanding the footprint of its U.S. operations headquarters by more than 80,000 square feet. The company will occupy 100 and 200 Warren Corporate Center Drive, soon to be renamed Everest Way, within the next 18 months.
To facilitate a seamless experience across the two buildings, Rubenstein and Vision will construct a new four-story glass atrium to connect buildings 100 and 200, with a drop-off lane at the front entry. Interior walkways will be accessible on all four floors with a reception area and security at the main entrance.
CBRE’s Eric Deutsch and Jeff Babikian represented Everest, while Cushman & Wakefield’s Robert Donnelly Sr. and Robert Donnelly Jr. represented building ownership in the lease transaction.
The announcement comes on the heels of the completion of Warren Hill, an indoor-outdoor standalone amenities hub that has mobilized Warren Corporate Center’s transformation into a modern, hospitality-inspired work environment.
Since acquiring the 176-acre, five-building campus, Vision and Rubenstein have set out to position Warren Corporate Center as a unique opportunity in the market. The development of Warren Hill includes the campus’ 20,000-square-foot lifestyle center, which features an outdoor amphitheater, indoor and outdoor patio dining, multi-function conference areas, a full-service cafe with a coffee bar, a fitness center with locker rooms, and a full-size indoor basketball court.
“Our modern workforce demands high-quality office space, which includes exceptional amenities in an environment that activates and echoes their dynamic lifestyles. Our goal is to provide them with an abundant setting where they can learn, grow, and achieve their full potential,” said Sam Morreale, founding and managing partner of Vision Real Estate Partners.
Originally built as a headquarters for Lucent Technologies, Warren Corporate Center comprises more than 820,000 square feet of office space surrounded by walking trails, a landscaped pond and four covered parking structures.