Completion of Capital Improvements Transforms 300 Kimball into Class A, Multi-tenant Office Facility
(OCTOBER 08, 2013 - PARSIPPANY, N.J.) - Transwestern today announced that it completed a capital improvement program for 300 Kimball Drive in Parsippany, Morris County, N.J. The significant renovations include a modern redesign of the main lobby and state-of-the-art fitness center, as well as extensive upgrades to modernize the building's full, eat-in bistro, transforming what was a single-tenant building into a full-service, multi-tenanted, Class A office facility.
"For the past year, we have focused on updating this impressive building and adding amenities that will appeal to today's tenants," Transwestern Principal James Postell said. "We are excited to finally unveil a brand new look and feel that will make a company proud to call 300 Kimball their base of operations."
Transwestern most recently completed a full renovation of the building's 4,900-square-foot, first-floor lobby, which now features new stainless steel pillars, Italian polished marble flooring, Shaw carpet tiles and wood wall covering. The lobby renovation also included eliminating a wooden partition that separated the public and employee entrances, creating a modern, open and well-lit space conducive for multiple tenants.
In late 2012, Transwestern embarked on the ambitious capital improvement plan, which was managed by the Nicholson Corporation in conjunction with the well-regarded architecture firm Gensler.
In June, Transwestern unveiled the building's redesigned 8,600-square-foot bistro, which incorporates additional seating for both group and individual dining. Complementing the renovated interior space is the existing outdoor terrace directly adjacent to the bistro, which provides ample seating and allows employees to work or relax outside at tables fitted with large umbrellas.
In May, 300 Kimball officially opened a 3,000-square-foot fitness center, comprised of a wide variety of cardio and weight machines, free weights, yoga space and flat-screen televisions. The tenant-only fitness center also includes men's and women's locker rooms with two showers - including one compliant with the Americans with Disabilities Act (ADA) - and a mirrored sink area. The center also features Digilock® shared-use lockers that allow employees to lock and unlock available lockers with self-selected four-digit codes at no extra cost.
"When repositioning an asset, it has become the industry standard to provide a grand lobby reflective of a tenant's brand image, upgraded common areas and hallways, an on-site gym and high-quality food service," said Transwestern Managing Director Matthew McDonough. "At 300 Kimball, we've just completed all of these improvements, giving the space a brand new identity and personality."
Sustainable fixtures were also integrated into the fitness facility's design, including LED lighting, low-flow toilets and automatic faucets powered by solar cells. Additionally, metals and cardboard were up-cycled throughout the renovation. Incorporation of these sustainable attributes and processes was a priority for 300 Kimball Drive, which recently received Leadership in Energy and Environmental Design (LEED®) Silver certification from the U.S. Green Building Council (USGBC).
Other capital improvements recently completed at 300 Kimball include:
· Refurbishment of all 20 restrooms with new countertops, mirrors, fixtures and wall coverings;
· A survey of the parking lot with repaving and striping as necessary;
· Replacement of concrete sidewalks, parking structure sections or loading dock slabs based upon results of a concrete condition survey;
· Upgraded ground areas with new trees, ground cover and annual flowers; and
· Power washing of the entire building's exterior, as well as a washing of the interior and exterior of all windows.
Transwestern handles the leasing and management of the 400,000-square-foot building, which is uniquely positioned to accommodate the immediate space requirements of a wide range of tenants, including those with large block needs. Postell leads the assignment, along with McDonough.
The building, originally constructed in 2001, features numerous on-site amenities, including separate storage for tenants and ample parking, including executive covered spaces. Spacious floor plates allow for flexible build-out options. The site provides direct access to Interstates 80, 280 and 287; U.S. Routes 46 and 202; and New Jersey Routes 10 and 53. There is an abundance of amenities in the local area including hotels, shopping and restaurants.
In 2011, 300 Kimball Drive received an ENERGY STAR® rating of 93 - 24 percent higher than what ENERGY STAR considers "top performance" and 12 percent higher than the average ENERGY STAR rating within Transwestern's national managed portfolio.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern. Follow Transwestern's New York office on Twitter: @TranswesternNYC.
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