CBRE Markets Rare Opportunity at Class A Wayne Solar Center
SADDLE BROOK, N.J. (SEPTEMBER 24, 2012)– CBRE, New Jersey’s largest commercial real estate brokerage firm, is exclusively marketing a unique opportunity at the Wayne Solar Center, a Class A office asset with a prestigious corporate row address in Wayne, N.J.
The entire top floor measures39,052 rentable squarefeetand is divisible into two equal-sized independent wings that are connected to a large conference center. Each wing is serviced by itsown bank of elevators, which enables the floorto be divided,while preserving a full floor identity. The conference center contains a kitchen and audio-visual interface and is accessible to an outdoor patio area overlooking the campus with dramatic views. Naming rights and extensive exterior signage are also available.
Owned by an affiliate of APF Properties, the 156,941-sq.-ft. site is set on 11-acres at 1655 Valley Road and features a state-of-the-art one-megawatt solar photovoltaic carport installation that provides up to 25 percent of the building’s energy needs. One megawatt is enough to power 750-1,000 average American homes, according to Electric Power Supply Association.
“APF Properties chose to invest in the solar array and rebrand 1655 Valley Road as the Wayne Solar Center as a way to differentiate our product from the competition,” added KennethAschendorf, principal at APFProperties, a fully integrated real estate investment firm with a commercial portfolio valued at approximately $800 million, which invested approximately $4.5 million to install the solar array at the site. “We distinguish ourselves in this market by offering an extraordinary asset that has the ability to provide tenants with the opportunity to be in an environmentally responsible and sustainable building and to claim the associated bragging rights at no additional cost to them. Companies around the world invest millions to project the right image”.
“At Wayne Solar Center they can walk the walk without spending an extra nickel. We even have the ability to help their bottom line by capping future electrical cost increases,” Aschendorf said.
In addition to the solar and energy-efficiency, the property boasts a dramatic full-height glass atrium and offers exceptional workplace amenities such as an on-site cafeteria, conference center, on-site management, security and life-safety systems, car wash, dry-cleaning pick-up, Wi-Fi service, attractive landscaping and abundant covered parking.
“The space is ideal for diverse users such as back-office operations, call centers, technology, financial services, engineering or educational firmsand provides a rare opportunity to establish an identity in a sought-after location,” said CBRE First Vice President Richard Charles, who is handling the assignment with Associate Christopher Hanenberg. “CBRE has had great success leasing similar assets in this market and we feel Wayne Solar Center will attract high-caliber tenants from any number of industries.”
Charles listed numerous advantages including the fact that tenants would haveaccess to an educated talent pool, executive housing, a bucolic setting with magnificent views and might be eligible for the New Jersey Business Employment Incentive Program (BEIP). The unique carport array also serves as a canopy providing cover for the vehicles in inclement weather in addition to shade from the full summer sun.
The remaining75 percent of Wayne Solar Center is leased long-term to a well-known Fortune 100 company.The property is within a prestigious corporate row with neighbors includingthe U.S. headquarters for Toys “R” Us; JVC USA; Hankook Tire America; and Valley National Bank, in addition to BP Castrol, Maquet and William Paterson University.
Approximately 23 miles from New York City, the site has close proximity to major roadways including Routes 202, 23, 46 and I-287 and there is a New Jersey Transit bus stop at the building. Additionally, Wayne Solar Center is near a host of dining, hotel and shopping destination points including a Residence Inn Hotel, L.A. Fitness, the Ice Vault, and multiple retail shopping centers.
About APF Properties
APF Properties is a fully integrated real estate investment firm headquartered in New York City with a 2 million square foot commercial portfolio valued at approximately $800 million. Founded in 1995 by Kenneth Aschendorf and Berndt Perl, the firm focuses exclusively on commercial office buildings in the Northeastern seaboard region with holdings in New York City, Pennsylvania and New Jersey. APF Properties has dedicated significant resources toward becoming a leader insolar and sustainable building practices among commercial real estate companies, and continues to be active in other market-leading green initiatives. We are located on the Web at www.apfproperties.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.