Privately held real estate owner and developer Hartz, which has redeveloped a former 410,000-square-foot office complex into 250 apartments at 750 Walnut Ave. in Cranford, said this week the community is more than 60% leased only months after launch.
Fairways at Cranford represents the culmination of a decision Hartz made after its long-term anchor tenant departed in 2017. Rather than try to relet obsolete office space, the Secaucus-based firm chose to redevelop the site into a residential community.
“It was a very difficult decision, but reinvention was the only option,” said Gus Milano, president and chief operating officer of Hartz. “Today, Fairways at Cranford proves that with the right vision and team, you can take a distressed real estate asset and create one of Union County’s most desirable places to live.”
Designed by Minno & Wasko Architects and Planners and built by March Associates Construction, residents at the two-building community can avail themselves of amenities such as landscaped courtyards with grilling stations, a theater room, co-working suites with private meeting spaces, a resident lounge with bar and dining areas, and a fully equipped fitness center. Each building has a clubroom with outdoor access and electric vehicle charging stations.
“This was one of the most successful and rewarding projects we’ve completed in our 40 years of business,” said Lou March Jr., president of March Associates Construction. “The results demonstrate what’s possible when a talented, dedicated team collaborates on a shared vision.”
Greystar serves as the exclusive leasing and management partner for Fairways at Cranford.
Hartz, founded in 1966, is one of the largest privately held real estate owners and developers in the United States.
