Cushman & Wakefield Selected to Manage 465,000-SF Office Building in New Jersey

Rhea-AI Summary

Cushman & Wakefield (NYSE: CWK) has been appointed by Argent Ventures to manage 115 Tabor Road, a 465,133-square-foot office building in Morris Plains, New Jersey. This marks the third property management relationship between the two firms. The building is transitioning from a single-tenant to a multi-tenant Class A office space, featuring upscale amenities such as a corporate cafeteria, a state-of-the-art fitness center, and structured parking for over 1,000 cars. The property is strategically located near commuter rail services.

Positive

• Cushman & Wakefield expands its relationship with Argent Ventures, indicating strong client confidence.
• Management of a high-quality, trophy asset could enhance CWK's reputation and attract further business.
• The building's conversion to a multi-tenant space may increase occupancy and revenue potential.

Negative

• None.

Cushman & Wakefield (NYSE: CWK) announced recently that the real estate services firm has been selected by Argent Ventures to oversee property management for 115 Tabor Road, a 465,133-square-foot office building located in Morris Plains, New Jersey.

Argent Ventures is a New York City-based, vertically integrated, diversified real estate investment and development firm specializing in opportunistic and value-add transactions throughout the United States.

“This is the third property we have been retained to manage for Argent Ventures and we are thrilled to continue expanding our relationship,” said Mike Nevins, head of Cushman & Wakefield’s New Jersey property management team. “This building’s trophy quality finishes and amenities are among the best in the submarket.”

115 Tabor Road is being converted from a single-tenant property to a multi-tenant Class A office building. Amenities include a corporate cafeteria, a 20,000-square-foot state-of-the-art fitness center, executive parking and a large conference/training center. The property also has a green roof, outdoor spaces, structured parking for more than 1,000 cars, five loading docks and a helipad.

The property is conveniently located minutes away from the Morris Plains Commuter Rail and Morristown Commuter Rail.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210210005314/en/

FAQ

What recent property management contract did CWK secure?

Cushman & Wakefield has secured a contract to manage 115 Tabor Road for Argent Ventures.

What is the size of the office building managed by CWK?

The office building at 115 Tabor Road measures 465,133 square feet.

How many properties does CWK manage for Argent Ventures?

Cushman & Wakefield is managing three properties for Argent Ventures.

What type of office building is being developed at 115 Tabor Road?

The building is being converted from a single-tenant property to a multi-tenant Class A office building.

What amenities are included in the 115 Tabor Road property?

Amenities include a corporate cafeteria, a fitness center, executive parking, and a conference center.