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News release

Bridgewater, NJ

CenterPointe at Bridgewater Experiences Significant Leasing Activity

Class A corporate park attracts diverse base of new tenants, reports Jones Lang LaSalle


BRIDGEWATER, N.J., Nov. 17, 2010 — Despite a challenging leasing environment with high market vacancy rates, CenterPointe at Bridgewater has experienced significant year-to-date leasing activity as tenants opt to take advantage of CenterPointe’s superior quality space and competitive rents. On behalf of owner Normandy Real Estate Partners, Jones Lang LaSalle executed seven lease transactions totaling more than 43,000 square feet at the corporate park in the first 10 months of 2010.

Centerpointe, comprised of four three-story, Class A office buildings located at 1130, 1140, 1150, and 1160 Route 22, has immediate highway access and is regarded as one of the finest corporate parks in Somerset County, N.J.  Led by Executive Vice President Susan Mason, the Jones Lang LaSalle team of Senior Vice President Shawn Straka, Vice President Chris Conklin and Associate John Buckley represent CenterPointe’s owner, Normandy Real Estate Partners, one of the country’s leading real estate private equity firms.

“The leasing success we have achieved at CenterPointe is a reflection of the unparalleled value this modern office space offers to users, who have the flexibility to grow within a building or within the corporate park,” Mason stated. “CenterPointe offers a desirable, amenities-filled atmosphere at rents unmatched by any other high-quality office property in the region, as well as institutional grade ownership and on-site management.”

“The strong leasing activity that Jones Lang LaSalle has been able to generate at CenterPointe is a testament to the exceptional environment afforded by this Class A office campus, as well as to the value tenants place on our hands-on management style, open dialogue, and ability to offer flexible and attractive leasing terms,” stated Paul Teti, Vice President of Normandy.

CenterPointe at Bridgewater is situated in the heart of Somerset County on Route 22, with close proximity to Interstates 287 and 78, and Routes 202 and 206.  Currently, the corporate park has blocks of spaces available ranging from small suites of 2,000 square feet to entire buildings. Smaller space availabilities are located in the park’s two multi-tenant buildings, while the park has two entire buildings--one encompassing 83,000 square feet and the other 65,000 square feet--available for single large users.

In addition to tremendous expansion potential, tenants have great signage opportunities that offer ideal visibility to commuters along Route 22. The buildings have flexible floor plates, which are highly efficient and easily divisible from small to large units, and richly appointed common areas with granite and wood lobbies.   On-site amenities such as a full service café, fitness center with shower and locker facilities, conference center and management staff distinguish the corporate park as one of the finest in the marketplace.

Additional amenities in the nearby area include the 350-room Bridgewater Marriott hotel and conference center, and the Bridgewater Commons Mall, which features more than 150 upscale stores and specialty retailers, and numerous fine and casual dining restaurants. There are also numerous retail shopping centers, banks, restaurants and eateries within minutes of the corporate park along Route 22.

CenterPointe’s position along the corridor between New York City and Philadelphia is a valuable asset for companies with ties to these metropolitan areas and that also desire the upscale atmosphere of a suburban campus setting. CenterPointe offers convenient access to all points in New Jersey, as well as New York City, Philadelphia, and Washington, DC. It is also easily accessible via Amtrak Service and Newark International Airport.
 
About Normandy Real Estate Partners

Normandy Real Estate Partners is a vertically-integrated real estate private equity fund manager headquartered in Morristown, NJ with offices in Boston, New York City, and Washington DC.  Normandy currently manages a series of discretionary real estate funds totalling approximately $1.0 billion of equity commitments.  Normandy’s existing portfolio includes 14 million square feet of commercial assets, four hotels and numerous land development sites.  Normandy targets value added real estate investments primarily in the Northeast and Mid-Atlantic markets of Boston, Metro New York City, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements.  For more information visit www.normandyrealty.com.
 
About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $40 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.