Newmark has arranged four new office leases totaling 47,777 square feet at River Centre, a five-building Class A campus located in Red Bank, bringing the campus to more than 90 percent occupancy.
The property’s leasing agents, Senior Managing Director Jamie Drummond, Associate Director Andrew Perrotti, and Associate Luke Reid, represented the owners, Paramount Realty and First Mile Capital/Crown Acquisitions, in negotiations.
The transactions include:
- Paramount Realty, a commercial real estate owner-developer, signed a lease for 20,000 square feet on the third floor of Building 3.
- Zipp & Tannenbaum, an accounting and advisory firm, signed a lease for 10,000 square feet on the third floor at Building 3.
- InflexionPoint, a company specializing in automation and manufacturing intelligence, signed a lease for 8,863 square feet on the second floor at Building 2.
- Relational Group Partners, a provider of personalized business insurance to independent business owners, signed a lease for 8,914 square feet on the first floor at Building 2.
River Centre is a 668,107-square-foot office campus located at 331 Newman Springs Road and 100 and 200 Schulz Drive, just off the Garden State Parkway at Exit 109.
Overlooking the Navesink River and minutes from the Jersey Shore, the campus is steps from downtown Red Bank’s dining and retail and offers immediate access to Routes 18, 35, and 36, the New Jersey Turnpike, NJ Transit rail service, and ferry terminals.
River Centre is evolving with intention, and the market is responding to that clarity and investment, Drummond said in a release.
Ownership is preparing the next phase of its $25 million campus-wide capital improvement program this spring. The project includes relocating the campus amenity offering to River Centre 3, where a new fitness center, café with dedicated seating, tenant lounge, and collaboration spaces will be constructed, along with a campus-wide landscaping and signage/wayfinding program.
Complementing these enhancements, a new 2,500-square-foot Starbucks with dine-in and drive-thru offerings is under construction and expected to open later this fall.
