NEW JERSEY—Summit Executive Center, a 65,000-sq.-ft., Class A office property in Summit, N.J., has completed. Upon completion, three tenants have moved into the business center, bringing it to 86 percent leased with 9,000 sq. ft. of space remaining.
Owned by the partnership of Mark Yeager and Normandy Real Estate Partners, the property was formerly known as the Summit Medical Building.
“We were able to complete construction at Summit Executive Center on time and on budget, which allowed us to meet tight delivery obligations for our existing tenants,” said Yeager. “We also surpassed our goal of having 75 percent of the property leased by completion, which is a strong reflection of the demand in the market for high-quality, new construction office space in a great location that provides access to mass transit and area amenities.”
The property’s redevelopment consisted of the renovation and redesign of an existing four-story, 40,000-sq.-ft. office building along with the construction of a 25,000-sq.-ft. addition. The project is also LEED-certified.
Amenities at the property include a two-level, 200-car parking structure as well as a central downtown location, offering close proximity to N.J. Transit. Local amenities include the Short Hills Mall, Short Hills Hilton, Grand Summit, Summit Playhouse, the DeBary Inn and the Visual Arts Center of New Jersey.