This high-quality Class AA office building is located in Charlotte’s central business district and features one million square feet of office space.
Metropolitan Center is a premier 15-story Medowlands landmark featuring first-class amenities and panoramic views of Manhattan.
Wildwood Center is a unique, multi-tenant office building whose prestigious location offers quality space, and unmatched value in Atlanta.
Carmel Crossing Office Park is a unique, multi-tenant office park whose prestigious location offers quality space, and unmatched value.
120 Mountain View Boulevard is a 134,980 square foot four-story office building located at Exit 33 off Interstate 78 in Basking Ridge, New Jersey.
A 653,000-square-foot, 10-story, Class A office building with a 28-story tower, situated on Baltimore's famed Inner Harbor.
Renaissance Center is a master-planned corporate campus situated on 71 acres located within a densely populated suburban area of Tampa Bay.
Metropolitan Center is a premier 15-story Medowlands landmark featuring first-class amenities and panoramic views of Manhattan. This highly visible location on Route 3 offers easy access by car and public transportation. Included amongst the many amenities is a free shuttle service for tenants to and from the Secacus Train Station, a state of the art Fitness Center and Teleconference Center. Attention to tenant amenities, concierge services and prime location make Metropolitan Center a first class workplace for today’s business.
This high-quality Class AA office building is located in Charlotte’s central business district and features one million square feet of office space. Amenities at the 42-story office tower include a seven-level underground parking garage of approximately 1,100 parking spaces; a 24-hour on-site security with controlled visitor and tenant access; shops and service providers such as a coffee house, dry cleaner and sundry store; a YMCA; casual and fine dining venues; and part of Wachovia Center—a hub of offices, restaurants, shops, venues and businesses spanning three city blocks.
Wildwood Center is a unique, multi-tenant office building whose prestigious location offers quality space, and unmatched value. Located amid Atlanta’s northwest office market, home to many prominent corporations, this site consists of 12.32 beautifully landscaped acres. The property is a serene suburban environment with 692,707 square feet. Given its’ flexible and efficient floor plates, Wildwood Center is best suited for a variety of business and corporate users.
Carmel Crossing Office Park is a unique, multi-tenant office park whose prestigious location offers quality space, and unmatched value. Located amid South Charlotte’s office market, home to many prominent corporations, this site consists of 25.87 beautifully landscaped acres. The property is a serene suburban environment with 326,321 square feet. Given its’ flexible and efficient floor plates, Carmel Crossing is best suited for a variety of business and corporate users.
120 Mountain View Boulevard is a 134,980 square foot four-story office building located at Exit 33 off Interstate 78 in Basking Ridge, N.J. Completed in 2002 by the Gale Company and JP Morgan, the Property is one of the top assets in the submarket.
The Property is part of an 821,670 square foot masterplanned office park known as Mountain View Corporate Center that was originally developed by JPMorgan and The Gale Company. Approximately 343,965 square feet of the park remains to be developed.
The Property is constructed of fire-proofed steel structural columns with reinforced concrete slab floors over metal decking. The facade consists of attractive polished marble and smoked reflective glass windows. The interior features an impressive two-story atrium with granite tile floors, a decorative drop ceiling, and walls with a combination of sheetrock, granite, wood paneling and glass. Tenant spaces have a 9-foot finished ceiling height and the doors are solid core mahogany and oak.
A 653,000-square-foot, 10-story, Class A office building with a 28-story tower, situated on Baltimore’s famed Inner Harbor. The building has a 2-story lobby, ground-level retail, fitness and conference center and an abutting 8-level parking structure with 940 parking spaces and direct access into the building.
Renaissance Center is a master-planned corporate campus situated on 71 acres located within a densely populated suburban area of Tampa Bay. With beautiful wetlands, a gymnasium, fitness center, jogging trails and on-site dining, the campus provides a highly unique, amenity rich environment for large corporate tenants. The campus was
originally designed and built by Capital One Financial Corporation (“Capital One”) to accommodate their customer call service operations. All buildings have 10’ ceiling heights, providing a spacious work environment. The buildings are situated around a nature preserve/wetland area with covered and walled walkways connecting all of the buildings. Parking is a generous 6.0/1,000 sf and is provided by two structured parking garages and surface parking. Four of the buildings have full generator backup, enabling them to run all systems in a power outage for 72 hours. REN I – REN IV have received LEED® Gold certification.
Fred Arena is the Founder & Strategic Leader of the firm and plays an active role in all investment and corporate finance activities.
Anthony Arena is the Chief Investment Officer of Vision Properties.
William Bertolero is the Vice President of Asset Management at Vision Properties.
Several tenants have recently signed new or renewed leases at a south Charlotte office park.
Carmel Crossing Office Park, a three-building office park with 326,321 square feet of office space, is now 95% leased, according to JLL, which leases the property on behalf of the landlord. The real estate firm said the park was 70% leased in May 2015, when JLL took over leasing at the property.
Willson Jones Carter & Baxley, an insurance defense firm, has expanded into 10,000 square feet, doubling its presence in Charlotte. Allen Lund Co., a transportation broker, has signed on for 7,500 square feet. MicroD is leasing 6,700 square feet and Sono Bello is taking 9,890 square feet.
Last year, Rentokil North America signed on for 22,836 square feet at the Davie Building in Carmel Crossing Office Park.
Vision Properties acquired Carmel Crossing Office Park, located at the intersection of Carmel Road and Highway 51, in 2013. The real estate and development firm invested $2.5 million in common area renovations, including lobbies, landscaping, conference facilities, cafes and restrooms.
William Bertolero, executive vice president at Vision, said in a statement that the firm is committed to Carmel Crossing and the Charlotte market and continues to implement “meaningful changes” to the property.
Barry Fabyan and Stephen Woodard at JLL represented the landlord in all lease transactions.
Less than three months after announcing a 150,000rsf long term lease with the Auto Club Group for the massive regional headquarters at Renaissance Center 6, Vision Properties is looking to build upon its success by seeking a major modification to the Renaissance Center PD. The aforementioned modification will add over 575,000 sf of additional office entitlements and a full service 200 key hotel. Upon completion of Renaissance Center 6, the campus will be 723,000 sf and leased in its entirety to Well Care, Capital One and Auto Club Group.
Vision Properties has already successfully filed a minor modification to the PD by increasing the size of Renaissance Center 6 by 40,000 sf. Clayton Bricklemyer of Bricklemyer Law Group represented the developer in the minor modification filing and is also representing the latter in the major modification.
“Given the lack of high quality infill land sites in Hillsborough County, we saw an opportunity to entitle and ultimately develop the remaining parcels at Renaissance Center. The existing amenity base, superior infrastructure, and scale of the park makes the opportunity even more compelling as few office campuses in Florida can compete with Renaissance Center,” noted Anthony Arena, Vision Properties’ Chief Investment Officer.
Vision Properties is presently marketing for lease Renaissance Center 7 and Renaissance Center 8, which will consist of 105,000 rsf and 260,000 rsf
respectively. Both buildings will feature structured parking, dual electrical feed from two separate substations, and dual fiber connectivity. Horton Hartley and Carter is serving as the architect and has designed both buildings as well as Renaissance Center 6.
“In anticipation of delivering Renaissance Center 7, we are currently adding over 500 parking spaces throughout the campus, doubling the seating capacity of the existing food court and adding a new automatic transfer switch for dual electrical feed to serve the building. With these investments we will be able to deliver Renaissance Center 7 in approximately 12 months since the parking, amenities, utilities, and detention will already be onsite,” noted Vision Properties’ Partner William Bertolero.
The impressive 71-acre campus features a 10,000 sf food court with multiple food stations, a 30,000 sf fitness center that features two indoor basketball courts, showers, locker rooms, yoga studio, weightlifting room and a racket ball court. The park also has dual electrical feed from two separate substations, dual fiber connectivity with over 3200 structured parking spaces and approximately 1,000 surface spaces.
“Renaissance Center 7 will provide a world class modern work environment with countless amenities and an emphasis on health and wellness. This cutting edge building will allow tenants to attract and retain top talent. Renaissance Center 7 will feature structured parking, 9’6″ finished ceiling heights, a modern lobby with exposed ceilings, and a stairwell and elevator addition to the adjacent parking deck to provide quick access and 100% coverage for occupants from the parking deck to the building,” noted Vision Properties’ Partner, William Bertolero.
Vision Properties is well known for its vertically integrated operating platform including development, leasing, construction, property management, and asset management.
AAA Inc., The Auto Club Group plans to consolidate two Tampa office locations into one massive regional headquarters near Tampa International Airport.
The organization, which provides roadside assistance and other services to its members, has signed a lease for the entirety of a 150,000-square-foot building under construction in Renaissance Center, an office park north of the airport.
Renaissance Center was built as a campus for Capital One. Capital One retains a presence there, and some of the space is leased to WellCare Health Plans Inc. Between the two companies, Renaissance Center is 100 percent occupied.
When Vision announced its plans in September 2016, the developer was planning a three-story, 111,000-square-foot building. As site work was underway, Vision modified its plans to add a floor and increase the total square footage to 150,000.
“This is clearly a validation of our strategy since acquiring Renaissance Center, which was to fill a void that exists in the Tampa office market,” Anthony Arena, chief investment officer of Vision, said in a statement. “At acquisition, we saw the lack of large contiguous blocks of space as an opportunity, which we immediately seized upon.”
AAA is slated to move in when the new office opens in April 2018. The company will move workers out of 37,000 square feet in Hidden River Corporate Center and 90,000 square feet in Westshore’s Austin Center.
The deal is an extremely large office lease for Tampa, where most office leases are between 10,000 and 20,000 square feet.
Speculative office construction is exceedingly rare in the Tampa Bay region. In 2013, a 75,000-square-foot speculative building, Citrus Park Crossing, opened near Gunn Highway and the Veterans Expressway. That building had a 43,000-square-foot tenant when it opened its doors. Since then, office construction in the region has been limited to custom-built campuses, like the one Highwoods Properties Inc. developed for Laser Spine Institute.
With a dearth of new construction, big blocks of office space are increasingly difficult to come by — particularly the new, modern space that companies are looking for to attract and retain young talent.
Despite a surge in office occupancy, there’s been so little development because rents haven’t yet risen to the point of justifying new construction, though brokers and developers say rental rates are finally on an upswing. Vision’s success with its speculative building could encourage other developers to consider similar projects.
Vision is already looking for its next smashing success. “We’re still looking to invest in the right opportunities in Hillsborough County,” William Bertolero, a partner in the firm, told the Tampa Bay Business Journal. “We have been looking just because we really do like the fundamentals of the office market.”
Vision used in-house representation — Bertolero and Arena — to broker the lease transaction. Rick Pifer and Tony Sorgi of Plante Moran Cresa and James Garvey and K.C. Tenukas of Cushman and Wakefield Inc. represented AAA.
Itasca Construction Associates is the general contractor on the project. Horton Harley and Carter is the architect.
The deal could also be a catalyst for one of the most closely watched redevelopment projects in Tampa. At 90,000 square feet, AAA is one of the largest office tenants in Austin Center, leaving that property with a big vacancy once AAA moves to its new home.
Austin Center was sold to Redstone Investments in 2015. It is an aging office park and one of the most attractive urban infill sites in the Southeast.
Redstone has been focusing on increasing the office occupancy levels to stabilize the property in the short term. Redstone’s long-term vision for the site includes a mixed-use urban development that could include residential, office, retail and hospitality space.
Redstone President Lyle Fogarty did not respond to a request for comment Monday.
Real Estate Inc. Awards 2017: Building transaction
Fred Arena, a real estate investor, says he wanted to own on Pratt Street.
These are the building sales that had the biggest impact on Baltimore’s market.
First place: 100 E. Pratt St.
Fred Arena has had his eye on Pratt Street for years. The New Jersey real estate investor bid on four Pratt Street office towers, but finished second each time.
Arena’s luck changed with 100 E. Pratt St., the 653,000-square-foot trophy property his firm purchased for $187.5 million in March 2016.
“If you’re going to own in Baltimore, you want to own on Pratt,” said Arena, a former Goldman Sachs executive who founded Vision Properties in 2006.
100 E. Pratt St., known for its sleek, white steel sculptured roof, is the headquarters of T. Rowe Price Group Inc. and is nearly fully leased. T. Rowe occupies 427,000 square feet, and is locked in through 2027, a key selling point for Arena.
Additionally, much of the change underway to enhance the retail offerings along Pratt Street made the building attractive to Vision Properties. The neighboring 400 E. Pratt St. has seen success with a retail build-out that includes Shake Shack and Chick-fil-A, while other expansions are planned for 100 Light St. and 100 S. Charles St.
Vision Properties are long-term owners, Arena said, and “can invest in the building without having to do Band-Aid repairs.”
So far, Vision Properties has spent about $2.5 million on enhancing the lobby at 100 E. Pratt St. and creating a collaborative room “that’s basically a building lounge.”
In 2017, the company has a capital plan to address mechanical upgrades to the property.
Vision Properties has 7.5 million square feet in its portfolio, including buildings in Charlotte, N.C. and Atlanta.
With its first Baltimore deal in the books, Arena said additional transactions could follow.
“We would be interested in more for the right property,” he said.
The space has an outdoor terrace overlooking the Inner Harbor.
PwC is moving on up in 100 E. Pratt St.
The accounting and consulting firm is taking the top three floors of the 28-story Inner Harbor office tower. PwC currently occupies about 31,900 square feet on the 18th and 19th floors, according to CoStar Group Inc.
Floors 26-28 total more than 36,000 square feet, according to CoStar.
The top floors have been occupied by Tydings and Rosenberg LLP since 1991. The law firm is relocating across the street to 19,000 square feet at 1 E. Pratt St.
Bruce Matthai, a broker with Cushman & Wakefield who represents 100 E. Pratt St., said PwC’s deal is driven by expansion and the opportunity to move into one of the “premier spaces in the marketplace.”
The space has an outdoor terrace overlooking the Inner Harbor.
The move is scheduled for April 2018, said Richard Greenwood, PwC’s office managing partner in Baltimore. The new space will be more open and collaborative than its current offices, he said. The floor plan and outdoor space is key for recruitment, Greenwood said. PwC has a “relatively young workforce,” he said.
PwC’s local office currently has about 335 employees, and the company plans to reach 400 by 2019, Greenwood said.
The new office “positions us well for growth,” he added.
100 E. Pratt St. is more than 90 percent occupied. T. Rowe Price Group Inc. has its headquarters in the trophy property, occupying 427,000 square feet.
New Jersey-based Vision Properties acquired the building for $187 million in April 2016.
Fred Arena, CEO of Vision Properties, said the company identified PwC as a valued tenant when they acquired the property and is looking forward to keeping the company in the building.
Santa Barbara, Calif.-based BioIQ opened its East Coast headquarters at 2300 Windy Ridge Parkway SE near SunTrust Park.
The health-care technology company chose Atlanta because of its “exceptional talent pool,” said BioIQ CEO Justin Bellante in a statement.
The company known for its health screening and management platform that helps companies comply with the Affordable Care Act. The company said it has grown 300 percent in three years, and it plans to use its new Atlanta office as a launching pad for a national expansion.
BioIQ also named Lisa McVey its technology chief. McVey previously spent 21 years with McKesson Corp. in Atlanta.
Two tenants at a Basking Ridge building have expanded their leases, according to property owner and operator Vision Properties.
Barnes & Noble College Booksellers signed a long-term lease to expand to 81,054 square feet at the 120 Mountainview Blvd. site, while law firm Carroll McNulty & Kull signed a long-term lease to expand to 49,252 square feet, Vision said Thursday in a news release.
“Given the asset’s strategic location along (Interstate) 78 and its amenity package, 120 Mountainview continues to receive strong interest from new and existing tenants,” Fred Arena, founder of Vision Properties, said in a prepared statement.
Remy deVarenne of CBRE represented Barnes & Noble College Booksellers, while Doug Gaffney of Lee and Associates represented Carroll McNulty & Kull. Vision was represented in-house by Anthony Arena and Will Bertolero on both deals.
Commercial real estate firm Lee & Associates announced Thursday that it has completed a long-term lease expansion and extension in Basking Ridge for the law firm of Carroll McNulty & Kull LLC.
Douglas Gaffney, senior vice president of Lee & Associates, handled the transaction on behalf of the law firm.
“We worked closely with Vision Properties, the building owner, to structure a mutually beneficial lease for Carroll, McNulty & Kull’s growing practice. Vision Properties continues to operate a first class facility and worked diligently to help us expand on a contiguous basis while extending the overall leasehold,” Gaffney said in a prepared statement.
The law firm, located at 120 Mountainview Blvd., will now take up 49,262 square feet of space.
Vision Properties Closes On $100M+ Renaissance Park Acquisition
Vision Properties, a northern New Jersey-based commercial real estate operating partner, has acquired a five-building Class A office complex consisting of 573,053 square feet along Henderson Road, north of Tampa International Airport. This acquisition represents Vision Properties first acquisition in Tampa and adds to its existing office portfolio of 5,000,000 rsf. The property also has a development pad with an active site permit for an additional office building totaling 111,600 sf. Fred Arena, founder of Vision Properties, expects to break ground within the next 12 months as the Tampa Office market lacks large contiguous blocks of Class A vacancy.
Renaissance Park, a master-planned corporate campus situated on 71 acres, includes over 3,000 structured parking spots, a baseball field, a health and fitness center, a tennis and volleyball court, internet café‚ coffee bar, and food court.
Anthony Arena, Director of Acquisitions stated, “The Tampa office market has continued to outperform many other office markets around the country with approximately 2.250MM rsf of net absorption since 2011. This can be attributed to the talented labor pool, large tax incentive packages, and low cost of business. The Tampa MSA added 32,900 new jobs in the last 12 months ending June 2015 and 109,300 jobs in the last five years.”
Cushman & Wakefield’s Florida Capital Markets Group consisting of Mike Davis, Michael Lerner and Rick Brugge represented the Seller. William Bertolero of Vision Properties will oversee the operations and asset management.
Companies such as Duke Energy Corp. (NYSE:DUK), Siemens Energy and Areva Inc. have put Charlotte on the energy industry’s map. But the dearth of energy startups is an obvious hole in its résumé as a national energy hub.
The energy startup accelerator CLT Joules wants to help fill the void, and Executive Director Lori Collins is the point person in that effort.
Collins was part of the original executive team for LendingTree.com, the mortgage exchange that became Tree.com Inc. (NASDAQ:TREE). She was also a managing director at Abundant Power Group.
Now she will be working to find promising startups — in the Carolinas and nationally — and working to bring them to Charlotte.
She is focusing on hardware companies, where she thinks there is the greatest opportunity for innovation. They need more capital and can take more time to develop than software companies. But Collins hopes big energy companies already on the ground in Charlotte will see the value. That is how Charlotte can attract startups, she says. “We can offer access to the big energy companies. That’s a huge draw for Charlotte.”
The accelerator kicked off its operations in October with funding from Duke and the law firm Moore & Van Allen.