Park Avenue at Morris County is comprised of six Class A, Energy Star and LEED-certified office buildings offering 1.16 million square feet of rentable space. The property is also WiredScore rated. The property is conveniently located near the Columbia Turnpike exit off Route 24, 25 minutes from Newark Liberty International Airport and 35 miles from New York City.
Tenants can easily access the property by public transportation from New York City and neighboring towns via a private luxury shuttle service that runs between the property and the nearby Madison train station during prime commuting hours. Shuttle service is also available on demand throughout the day for access to area amenities including The Mall at Short Hills. The property offers tenants electric car charging stations and covered parking.
Onsite amenities include The Lunch Box, an online food delivery network available on the property’s proprietary website and mobile application, a state-of-the-art conference center, a newly renovated atrium lobby at the 100 building, dry cleaning and a fitness center with yoga instructors, massage therapists and physical therapists. Park Avenue at Morris County also features outdoor volleyball and basketball courts, as well as two miles of nature trails.
Additionally, Park Avenue at Morris County is home to a newly developed Goddard School, an early childhood education center servicing tenants and surrounding neighborhoods. This onsite facility provides tenants with childcare services conveniently nearby their workplace.
“It’s fantastic to call Park Avenue our home. The KBS team has made this a truly remarkable place to have our school and with the help of the Park Avenue Ambassadors and the Concierge, we are thrilled to offer outstanding care and education to the families in the campus,” said Laurie Hoffman director of education at The Goddard School.
“What we are hearing from our newest occupants is that they feel Park Avenue has the amenities and services that will allow them to recruit and retain top talent in their respective industries,” said Shannon W. Hill, senior vice president at KBS and asset manager for the property. ”It’s very rewarding to hear this as it’s the precise outcome we set out to create when we started enhancing the campus. Our latest feature is a fully redesigned atrium lobby in the 100 building, which now serves as the social hub of the campus and venue for entertainment activities. We will continue to explore innovative services to enhance our tenants’ experience at Park Avenue.”
Jeffery Heller and Bill McCaffrey of Avison Young represented the landlord on these transaction.
KBS Capital Advisors is the external advisor to KBS Real Estate Investment Trusts (REITs), and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded in 1992. Since its inception, KBS-affiliated companies have completed transactional activity in excess of $33 billion via 15 separate accounts, six commingled funds, five sovereign wealth funds and seven non-traded REITs. For information, visit www.kbs.com.
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS REIT II’s ability to invest in and manage a diverse portfolio, and the performance of Park Avenue at Morris County and of the Florham Park real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT II’s and/or Park Avenue at Morris County’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.