Advance Realty Deal with Kimball Office Provides Future Advance @ Southgate Tenants Direct Discounting on Office Furniture
Advance Realty, a leading Northeast U.S. owner and developer of Class A office properties and mixed-use developments, today announced that it has signed an exclusive agreement with Kimball Office for proprietary factory direct discounting on furniture for future tenants at Advance @ Southgate, a four-story, 320,000-square-foot building located at 445 South Street in Morris Township, N.J.
Advance Realty’s agreement with Kimball Office, an integrated office furniture manufacturer that provides complete turnkey furniture solutions, will give tenants purchasing power that could result in substantial savings over typical standard pricing. The proprietary factory direct discounting will be honored by authorized Kimball Office dealers, who will work with Kimball Office professionals to provide the services required to insure a smooth and successful furniture purchase, delivery and installation for Advance @ Southgate tenants.
“This exclusive agreement with Kimball Office is another way Advance Realty is providing additional services and incentives to future Advance @ Southgate tenants,” said Brian Banaszynski, vice president of leasing for Advance Realty. “During a challenging economy, this type of agreement gives potential tenants an opportunity to save even more money on an office move or a new office. There are significant savings available from this deal with Kimball Office.”
Kimball Office offers a wide range of furniture products that are aesthetically pleasing and functionally designed to address both budget and style preferences. These products include a vast array of panel systems (cubicles), case goods (desks, credenzas, tables, etc.), seating, and file cabinets, all available in contemporary, transitional or traditional styles. The company has a more than 15,000-square-foot showroom in New York City and a more than 47,000-square-foot showroom in Jasper, Ind.
“In an effort to maximize discounting to Advance @ Southgate tenants, we’ll determine an accurate specification of the Kimball Office products needed for each individual opportunity,” said Nick Alessi, market sales manager for Kimball Office. “This information will be analyzed to determine the product mix, quantities and timing of the order to reveal shared efficiencies, thus allowing us to present the tenant with an optimal factory direct discount.”
Advance @ Southgate, which recently underwent a multi-million transformation, features a dramatic new entryway and two-story lobby, an upgraded roof and elevator system, new bathrooms, HVAC system, tenant lobbies, common areas and windows, as well as amenities such as a conference center, café, fitness center and covered parking. The building is only 18 miles from Newark Liberty International Airport, five minutes from Morristown Airport, and has immediate access to I-287, with its close connections to Route 24 and I-80, as well as commuter rail that provides direct access to Manhattan from the nearby Morristown, Madison and Convent Station train stations. Area amenities include the Park Avenue Club, Dolce International’s Hamilton Park Hotel & Conference Center, such prestigious hotels as the Hyatt and Westin, and the downtown centers of Morristown and Madison. The property is also served by the NJ Transit “Wheels” transit shuttle, which provides daily pick-up and drop-off service to and from the nearby train stations.
About Kimball Office
A recognized leader in fine workplace furnishings, Kimball Office has been building its reputation on quality and integrity of design for more than 35 years. The company is a business unit of Kimball International, Inc., a corporation that provides a vast array of products from its two business segments: furniture and cabinets, and electronic contract assemblies. Based in Jasper, Ind., the publicly traded company (NASDAQ: KBALB) had sales of $1.3 billion in 2007. To learn more about Kimball Office, visit www.kimballoffice.com.
About Advance Realty
Headquartered in Bedminster, N.J., Advance Realty is an owner and developer of office, mixed-use, flex, industrial, retail and multifamily properties. One of the company’s prominent projects includes the Riverbend District, a new, urban mixed-use district in Harrison, N.J., that will feature more than 800,000 square feet of retail space, several hotels, 1.5 million square feet of office space, and approximately 1,800 for sale and rental residential units.
Advance Realty is also in the process of developing and leasing The Picatinny Applied Research Campus (The PARC), a new, high-tech office/research park located at Picatinny Arsenal in Morris County, N.J. The PARC is a planned, multi-phase 1.1 million-square-foot development of one- to three-story build-to-suit and multi-tenanted buildings with labs, Class A office space, and multi-purpose flex space.
Overall, with 4.5 million square feet of operating properties and a development portfolio consisting of six million square feet of commercial projects and 9,400 residential units, Advance Realty is one of the leading real estate owners in the Northeast. For more information, call (908) 719-3000 or visit www.advancerealtygroup.com.
