Site Plans Approved for Advance at Southgate
Advance Realty Group, a leading owner/developer of Class A office properties in the Northeast US, announced that the Morris Township Planning Board approved site plans for Advance at Southgate, 445 South Street in Morris Township, a 320,000-square foot-facility Advance is redeveloping into a Class A office property. By October 2006, Advance Realty Group will begin site work and interior construction, as part of its $20 million capital improvement program underway for the facility. The property was once home to AT&T. Advance at Southgate has an expected completion date of March/April 2007.
The three-story, 320,000-square-foot building, located at 445 South Street, will be completely redeveloped into one of Advance’s Class A signature “World Class Business Environments.” Advance’s capital improvement program will consist of a dramatic new entryway and two-story lobby, an entirely new roof, HVAC systems, upgraded window systems, tenant lobbies and common areas, as well as extensive site work and landscaping. Many new on-site amenities are also planned for the building.
Bob Martie, senior vice president and regional managing director of leasing, Advance Realty Group, commented, “Obtaining site approvals for Advance at Southgate is the next step forward in repositioning this Class A facility. We are very excited to begin construction and deliver another Advance world-class office environment to the Morris County market.”
Advance at Southgate consists of three, above-grade floors of 90,000 square feet over covered parking and additional first floor space of 50,000 square feet, which provides ideal space for a data center, café, fitness center, repro center and storage.
“By early 2007, Advance at Southgate will be transformed into virtually, a new Class A office building,” continued Bob. “When completed, the property will feature new building and mechanical systems, as well as a new lobby commensurate with today’s demands for productivity, efficiency and employee amenities by corporate America.”
With immediate access to I-287, Advance at Southgate is also in close proximity to I-24, I-78 and I-80, as well as commuter rail, which provides direct access to Manhattan from the nearby Morristown and Madison train stations. Area amenities include a plethora of prestigious hotels, the Park Avenue Club, Dolce International’s Hamilton Farm Conference Center, Morristown Memorial Hospital, Morristown Airport and the downtown centers of Morristown and Madison. The property is served by NJ Transit “Wheels” transit shuttle, which provides daily pick-up and drop-off service to and from the train stations.
About Advance Realty Group
Advance Realty Group is an owner and developer of office, flex, industrial, retail and multifamily properties. With 5.5 million square feet of operating properties and a development portfolio consisting of eight million square feet of commercial projects and 9,400 residential units, Advance is one of the leading real estate owners in the Northeast and is headquartered in Bedminster, New Jersey.
