Onyx Equities Enters 2015 Full Steam Ahead
Strong Q4 Performance Brings 2014 Year to Date Leasing Volume
to Nearly 850,000 Square Feet
WOODBRIDGE, N.J., (Feb 13, 2015) – Capping a year in which Onyx Equities’ portfolio of owned and managed properties conducted nearly 850,000 square feet of leasing activity, the company today reported that it leased more that 260,000 square feet in the fourth quarter alone.
A leading real estate investment, development and management firm, Onyx has owned, managed or served as the appointed Receiver for more than 35 million square feet of office, retail, industrial, and self-storage properties in 10 states. In recent years the company has allocated more than $35 million in capital improvements, an investment that has enabled the company to both attract new tenants and also retain existing tenants. In fact, during 2014, Onyx closed nearly half a million square feet in renewal leases.
“Our capital intensive program reflects our belief that, in order to compete, we need to pay close attention to what today’s tenants need, including equipment, layouts, design, infrastructure and atmosphere,” said Adam Karafiol, senior vice president of leasing for Onyx Equities. “We’ve taken an older stock of buildings and updated these assets into properties that offer everything a high-caliber tenant looks for.”
Some of the noteworthy transactions that Onyx completed during the fourth quarter include:
- The renewal of telecommunications giant, Avaya, (61,600 square feet) at 211 Mount Airy Road in Basking Ridge, New Jersey. The 282,000 –square-foot, class-A office building is located less than one-quarter mile from Route 287 and features a café, fitness center, conference facility and auditorium. NKGF represented Avaya in this transaction.
- Sony Music Entertainment’s expansion by 14,000 square feet at the 600,000-square-foot Meadows Office Complex, 301 Route 17 North in Rutherford, New Jersey. Recent upgrades to the property include renovations to the courtyard, parking, landscaping, exterior signage and interior common areas. In addition to a cafeteria that seats 400 people, the building features a conference center with a seminar room, a fitness center, on-site day-care and on-site management. JLL represented Sony Music in this transaction.
- The renewal of Origin Healthcare’s lease (24,754 square feet), also at 301 Route 17 North. Colliers represented the Origin Healthcare in this transaction.
- A new lease with UBS for 14,973 square feet at One Jericho Plaza, in Jericho, New York. The global financial services company moved its financial advisor operations to the iconic 640,000 square-foot building in order to take advantage of its convenient location adjacent to the Long Island Expressway (LIE). This two building trophy asset offers a full-service cafeteria and a fitness center.
In addition to focusing on its assets’ physical features, Onyx has also positioned itself as a company that delivers world-class property management in order to foster long-term partnerships with its tenants. It does so through what it calls the “Three Ts” of 21st--century commercial real estate success: talent, technology and team. Onyx’s approach centers on deploying the right talent to the right teams and empowering those teams through a suite of technological tools. This includes the pioneering use of numerous best-of-breed business software applications from which the company has created a customized property management platform.
The Onyx platform allows on-site and regional management teams to streamline every aspect of their operations and communications. Functionalities include a customizable dashboard, management of receivables and payables, cash flow forecasting, tracking of leasing activities, scheduling of maintenance activities, enhanced data analysis and responding to tenant needs.
“Our ability to seamlessly combine responsive management with world-class physical attributes is the principal reason why tenants choose us and stay with us as they grow,” Karafiol added. “The success we’ve had results from our use of cutting-edge tools to understand everything we can about our tenants. We then work as a team to put this knowledge to use in exceeding expectations.”
About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading private real estate investment, management and development firm. Since its founding in 2004, Onyx has acquired more than $1.5 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut. Since 2008, the firm has owned, managed or served as the appointed Receiver for more than 35 million square feet of office, retail, industrial, and self-storage properties. The company’s rapidly growing Receivership and REO portfolio has recently expanded into 22 states along the east coast. For more information on Onyx Equities, contact the firm at 732-362-8800, or visit www.onyxequities.com.