CRANBURY, NJ—Lam Cloud Management LLC, which recently signed a 25-year, net-netat One Farr View Drive in Cranberry, has begun to convert the building into a collaborative center for technological innovation.
Currently vacant, the 495,000-sq.-ft. property is situated on 42 acres and was built for Continental Insurance in 1988. Most recently, One Farr View Drive was occupied by Aetna.
The 25-year net-net lease was arranged for the tenant by William Klein of Kay Realty. Building owner, The Sudler Companies, was represented in-house by Steven Spinweber.
“Property owners, particularly owners of suburban office buildings, are increasingly looking at alternative uses for long-vacant buildings,” said Klein. “This is a particularly innovative adaptive re-use, one that sets a prime example for the industry.”
As part of its conversion to an integratedcenter by Lam Cloud Management, One Farr View Drive will include a 40,000-sq.-ft. conference center, which will include a 15,000-sq.-ft. multi-tiered assembly area with a stage, podium and breakout rooms. Private parking and a kitchen are also planned, as well as an executive office center for long- and short-term small tenant leases.