PARSIPPANY, N.J. (November 1, 2016) – Michael Taylor, Senior Vice President, announced that Lincoln Property Company has successfully achieved over 92% occupancy at Fairfield 80 Office Center located at 55 Lane Road in Fairfield, NJ on behalf of American General Life Insurance Company. Fairfield 80 is a 109,000-sq. ft., four story first class office building located at exit 52 in Fairfield, NJ, directly off of Interstate 80. Upon assuming these responsibilities, Fairfield 80 had an occupancy of just under 40%. Lincoln Property Company immediately implemented an aggressive repositioning and leasing campaign for the property.
Several new improvements and upgrades were completed including the installation of a brand-new state of the art energy efficient Carrier HVAC system, the renovation of the two-story lobby with the addition of a flat screen TV, renovation of the fitness center with new fitness equipment, the addition of a conference center, and the recent completion of a new roof.
Because of the commitment by the ownership in making these improvements, we experienced a significant increase in leasing activity, by signing a total of fourteen (14) new leases totaling just under 60,000 sf as well as extending and expanding the leases of five existing tenants, totaling an additional 21,000 sf. At a time when the office market continues to witness high vacancies, Fairfield 80 Office Center has stood above the competition and experienced significant activity with the recent completion of these leases. Lincoln Property Company’s Rick Genthe and Bob Lee are serving as in-house leasing agents on behalf of the landlord and Lincoln Property Company is serving as the property management company.
“We are honored to welcome such a distinguished group of new and existing companies that greatly complement our current tenants, GZA Environmental, PrimePay, David Landau & Associates and Continuity Logic” stated Bob Lee. “These leases are a reflection of the ownership’s’ and Lincoln Property Company’s commitment to meeting the needs of prospective tenants in a timely and cost effective manner and by providing a state-of-the-art facility in one of the most desirable locations in the region,” Genthe concluded.
Fairfield 80 Office Center is a four story, 109,000 sq ft. Class A office building located just off Exit 52 on Interstate 80. 55 Lane Road provides several new features including a new formal two -story lobby, John’s Café, a full-service café, a totally renovated fitness center with all new exercise equipment, a brand-new Carrier energy efficient HVAC system, and a limited number of covered executive parking spaces. Fairfield 80 also offers a unique floor plate that allows for a total of twelve corner offices per floor. Fairfield 80 offers outstanding access to Interstate 80, Routes 46, Route 23, and is only a few miles from Route 3 and the Garden State Parkway. Several hotels, restaurants, banking facilities, and the Willowbrook Mall are in close proximity. Newark Liberty International Airport and river crossings to New York City are just twenty-five away.