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The basics:

• The Connell Co. reaches 97% lease-up at RT Workspaces at The Park
• Tenants include Blackstone, Kennedys, HPE, L’Oréal, Samsung, Aon
• Launches 65,000-square-foot retail phase with Capricorn Retail Advisors
• $500M repositioning includes lifestyle, wellness and residential uses

As The Connell Co. nears lease-up on the 1.5 million square feet of office space that comprises The Park in Berkeley Heights‘ Round Table Workspaces, the company is ready to begin building out the campus’s retail component.

Following a $100 million capital improvement plan to create the RT Workspaces experience, high-profile tenants continue to the join the roster. Feeding tenant demand for elevated spaces, since the upgrades The Connell Co. says it’s secured more than 100,000 square feet of long-term leases to reach 97% occupancy.

“At The Park, we are creating a new gold standard for East Coast office space, prioritizing a resort and lifestyle experience that is reflective of the needs of the modern worker,” commented The Connell Co. Executive Vice President Shane Connell.

In addition to Blackstone, global law firm Kennedys also signed on for more than 25,000 square feet at RT Workspaces. Both vacated previous New Jersey markets to come to Berkeley Heights, The Connell Co. said. Other RT Workspaces occupants included Hewlett Packard Enterprise, L’Oreal, Aon and Samsung.

High-end experience

Connell offered additional insights into The Park’s marriage of resort-style service with work during Morris Arts’ Commercial Real Estate Breakfast earlier this year.

“[R]eally great service; really great design; culinary, leisure options; social options; outdoor spaces; indoor spaces; fitness and wellness; and culture. So your first impression, when you come in the building has to be really high-end, hospitality driven,” he explained. “So, concierge desk supporting it – instead of a property management team – with the hospitality team. … Common spaces with custom furniture and many spaces, game rooms, culinary options, and from an arts perspective, transforming what the spaces feel like. So working local artists and national artists as well as galleries.”

If you want to get a feel for the atmosphere: Connell pointed out the “mini Warhol” on display among the collection. All to “just really try and push that environment so it feels like a much different setting.”

The work component at the 185-acre mixed-used campus also features Round Table Studios, offering an elevated coworking experience. RTS boasts a 90% occupancy rate, The Connell Co. said, with approximately 56 members.

Rounding out retail

The Park is more than just work. The property is undergoing an overall $500 million repositioning plan to, essentially, bring the city to the suburbs.

To foster that sense of community and activity, The Connell Co. is establishing The District. Late last year, the mix of commercial and residential space delivered 55,000 square feet of new retail concepts, such as Emberside Brewery, Rosa Azul and BASH. Now, another 65,000 square feet of retail space is hitting the market to complement The District’s still expanding offerings, according to ownership.

To that end, The Park has engaged Capricorn Retail Advisors as exclusive retail leasing consultant. Effective immediately, the New York-based firm will oversee all such activities for the property, according to The Connell Co.

“We are excited to have the opportunity to curate the retail component of this new age mixed-use project,” said Larry Weinstein, principal at New York City based Capricorn Retail Advisors. “The Park is capturing the attention of national brands and given Capricorn’s experience with ground-up developments and relationships with virtually every relevant retailer, this is a perfect match.”

Something for everyone

The campus already features an Embassy Suites Hotel, Starbucks and a Lifetime Fitness center.

Currently under development, and leaning into the resort/urban lifestyle it seeks to promote, Bathhouse will establish a 20,000-square-foot flagship location at The Park. The N.Y.-based wellness spa offers premium amenities and treatments.

The Connell Co. said other retail spots will include a national grocer, upscale restaurants, cafes and other lifestyle-focused retailers.

“Our vision for The Park has been to create an active, multiuse destination environment for living, working, gathering, eating and shopping,” Connell added. “This next phase and goal is to create a dynamic, diverse mix of retailers for the walkable Main Street within The District at The Park that everyone can enjoy.”

Plans for The District also include more than 300 apartments to round out the full package experience on campus. Like RT Workspaces, the residences will also lean into the resort aesthetic.