Multimillion-dollar rebranding at Class A asset in Montville draws 2 anchor tenants

By Emily Bader
Montville | Sep 24, 2019 at 10:47 am

A multimillion-dollar rebranding and improvement project at Real Capital Solutions’ office property in Montville has drawn the interest of two household-name brands to anchor it, according to Cushman & Wakefield.

The property, known as MountainRidge at Montville, is a Class A, 109,000-square-foot asset located at 340 Changebridge Road, within close access to Interstate 80’s Exit 48.

Curtis Foster and Jerry Shifrin, based at C&W’s East Rutherford office, served as the exclusive leasing agents for the property, which is part of a former Bayer Pharmaceuticals campus.

The C&W team said it had secured a 32,000-square-foot lease with cooling and heating solutions specialist Fujitsu General America Inc. and Cambridge Silversmiths Ltd., a flatware designer and manufacturer, moved its headquarters to 19,000 square feet.

“Our ability to draw these two credit tenants stems directly from the investment that Real Capital Solutions has made within Building 200 on the site,” Foster said. “What was previously a single-tenant property has been reimagined to suit today’s multi-tenant requirements.”

Both Fujitsu and Cambridge, C&W said, relocated offices previously combined with warehouse operations.

“Eastern Morris County and western Passaic County along I-80 and Route 46 is a great warehouse market, supported by easy access to main thoroughfares, just 30 minutes from Newark Liberty International Airport,” Shifrin said. “Where consolidation has been a trend for many years, we are now beginning to see operations separate – but with the desire to maintain proximity. 340 Changebridge Road is a great Class A option for that, and our recent leases illustrate what we anticipate will be an ongoing trend.”

Financial terms were not disclosed.

Emily Bader | ebader@roi-nj.com | emilybader