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56 Livingston Avenue - ClearRock Properties

56 Livingston Avenue

Roseland, NJ

Project summary

Partner: Mountain Development & Square Mile Capital Management

Roseland, NJ

Total SF: 434,000

Partner

Mountain Development & Square Mile Capital Management

Property

  • Office
  • 434,000 SF

Timing

2011 – Current

Opportunity

  • Former HQ location of major pharmaceutical company
  • 100% Vacant at time of purchase
  • Fully renovated in 2001 including significant amenity base
  • Well located off I-280 with convenient access to the Garden State Parkway
  • Class A asset priced significantly below replacement cost

Value Add / 
Execution

  • Converted to multi-tenant building and upgraded/added various amenities
  • Executed major leases with FTI Consulting, Lowenstein Sandler and Connell Foley
  • Recapitalized in 2018
  • Long term hold