Striker Management and Leasing said Wednesday it fully leased its luxury mixed-use development in East Orange in seemingly record-breaking time.
Located along South Harrison Street, Lotus 315’s 180-unit residential portion opened its first two floors in June 2019 and accelerated leasing activity through targeted pre-leasing and ongoing multi-channel advertising campaigns.
Since the Striker takeover of Lotus 315 on September 1, 2019, the team successfully tenanted 70 apartments in just 100 days. Striker’s Apartment Leasing division, under the leadership of Brian Jaffe, reached 95 percent occupancy while the property was still under construction. In a four-month-record timeframe, the entire building was fully leased—during a global pandemic, which speaks volumes of the team working under these unique circumstances.
The property marks Blackstone 360’s fourth luxury project and first mixed-use development in East Orange.
To realize its vision of creating “true connection within the community through our developments,” Blackstone 360 chose Striker as the exclusive firm of record for both Lotus 315 and its sister asset, Aura 240, says Alina Zafar, Blackstone 360 director of marketing and corporate relations.
The units represented a mix of studios, one- and two-bedroom apartments. Rent contracts averaged at $2,200, equating to a boost in annual rent rolls.i