Onyx buys 69,000 s/f complex.Onyx onyx (ŏn`ĭks), variety of cryptocrystalline quartz, differing from agate only in that the bands of which it is composed are parallel and regular. Equities has acquired 303 Corporate Center, a two building office complex totaling 69,640 s/f, in Freehold Freehold, borough, United States Freehold, borough (1990 pop. 10,742), seat of Monmouth co., E central N.J.; settled c.1650, called Monmouth Courthouse (1715–1801), inc. as a town 1869, as a borough 1919. , NJ from a private investor. The sale price was not disclosed. The acquisition consists of a four-story 59,266 s/f building that currently features 8,331 s/f of availability in multiple units, and a one-story 10,374 s/f office building, which is currently leased in its entirety to CentraState Medical Center. 303 Corporate Center also features a pad site A pad site is a freestanding parcel of commercial real estate located in the front of a larger shopping center or strip mall. Desirable because of their visibility to consumers, accessibility, and the ease of facilitating drive-thru service, pad sites are typically sought after by offering the potential for an 8,000 s/f single-story office building. "With its close proximity to CentraState Medical Center, 303 Corporate Center is ideal for medical offices," said Michael K. Nevins, Onyx's vice president of asset management. "The building's entrance lobby was recently renovated and in order to further enhance the property, Onyx is implementing a comprehensive capital improvement campaign, which includes building facade facade (fəsäd`), exterior face or wall of a building. The term implies ordered placement of its openings and other features and thus seems inapplicable to a wall without design. upgrades, the installation of new monument Anything by which the memory of a person, thing, idea, art, science or event is preserved or perpetuated. A tomb where a dead body has been deposited. In real-property signage, landscape upgrades, and additional upgrades and renovations to interior common areas, making it a premier location for businesses serving the healthcare market." Upon acquisition, the building was 73% leased. Since then, Onyx has completed three leases, bringing the building's occupancy to 88%. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion