Elite Office Complex Expands its Legal Tenancy with 71,000 Square Foot Lease

ROSELAND, N.J., Nov. 28, 2016 – Connell Foley, one of New Jersey’s most prestigious law firms, has leased 71,000 square feet of professional space at 56 at Roseland – the best-in-class suburban office building located at 56 Livingston Avenue in Roseland, N.J. Mountain Development Corp. (MDC) and Square Mile Capital Management, LLC (Square Mile) own the property, whose tenants also include major law firm Lowenstein Sandler, LLP, and Brown & Brown, the insurance firm. Newmark Grubb Knight Frank is 56 at Roseland’s exclusive leasing agent.

Connell Foley is relocating its New Jersey headquarters from a nearby location in Roseland and will occupy space on the first and second floors. The firm anticipates moving into its new space in late spring of 2017.

“Our previous location served as the foundation for the growth of our firm,” said Managing Partner Philip F. McGovern, Jr. of Connell Foley. “In continuing to build our platform for the future, we were attracted to 56 at Roseland as it is a tremendous fit from the standpoint of location, building amenities, services and technological capability.”

“Connell Foley’s decision to relocate their headquarters after 30 years to 56 at Roseland reinforces the creation of an elite environment for the region’s top professional firms,” stated Michael Seeve, President of MDC. “We are honored to have been chosen by their firm and by Lowenstein Sandler. Our world-class professional amenities are designed toward supporting their operations and personnel in a manner unmatched in the market.”

“This lease transaction announced today demonstrates 56 at Roseland’s standing as one of Northern New Jersey’s premier professional office settings,” said Square Mile Principal Matthew Drummond. He added, “Our venture has modernized and repositioned this irreplaceable asset to serve the top end of the market and we’re pleased to welcome Connell Foley to its new headquarters.”

“Our firm is one of the oldest, best known and highest regarded practices in Essex County. It is a positive and exciting step for us to know we will be servicing our present and future clients at a state-of-the-art office campus,” said McGovern.

Lowenstein Sandler’s space totaling 170,000 square feet is currently under construction at the building, and the firm will move into it in 2017. MDC and Square Mile are working collaboratively with both firms to personalize their workspaces. Their hands-on approach reflects the venture partners’ expertise in building operational space for the legal industry.

Lowenstein Sandler’s managing partner, Gary Wingens, said “Our firm is excited to be joined by our colleagues from the Connell Foley firm at 56 Livingston. The building offers first class amenities, such as a new high-end gym and dining and catering facilities designed for professional service firms. Our people can’t wait for the move in 2017.”

Connell Foley’s New Headquarters

“The architectural team at New York-based Gensler is designing our new forward-thinking office space,” stated McGovern. Conceived with a contemporary flair, the 58,000 square feet on the first floor features the firm’s main conference rooms, attorney offices and support operations. The 13,000 square feet on the second floor will house Connell Foley’s working café, additional offices for the legal team and administrative workspace.

Gensler is a global architecture, design and planning firm. The team servicing Connell Foley will create an enhanced environment for the firm’s employees that will encourage a motivating and collaborative work-culture throughout the organization.

Lowenstein Sandler’s New Offices – A Building Within A Building

Designed by Manhattan-based Marner & Associates, the firm’s new worksite is a fully branded “building within a building,” featuring its own tree-lined “boulevard” named Lowenstein Drive, which leads to Lowenstein Sandler’s private, grand entryway. The firm is occupying the entire third floor as well as its own vertical townhouse.

First-Class, Upscale Amenities and $50 Million Upgrades

MDC and Square Mile recently invested heavily in additional improvements. The new amenities are designed to better service their tenants and support daily operational efficiencies. “Life-safety generation amenities ensure 24-hour legal operations for Connell Foley and Lowenstein Sandler,” explained Seeve. 56 at Roseland’s technical property features include an optimized Level 2 Data Center possessing a network operations hub with technical support space.

The building’s infrastructure also provides primary and secondary cooling systems ensuring the comfort of campus guests. For pedestrian convenience, eight 3,000 pound-capacity vertical transportation elevators provide seamless access to offices and common areas. Tenants also have superior levels of privacy for deliveries since one of the eight lifts has the capability to carry up to 4,000 pounds of freight, offering access to the basement and data center.

MDC is enhancing the building’s on-site café, which features new furniture and flooring. The upscale fitness center has a new weight room, cardio/yoga studio and fresh lockers with shower area. Top floor offices oversee 56 at Roseland’s beautiful green roof with lush trees and landscaping.

Employees and guests are graced with the environmental serenity of the professional 56-acre campus, which boasts hiking trails, a volleyball court, walking paths, and an outdoor fire pit and lounge area.

56 at Roseland’s two-story atrium lobby with vaulted ceilings includes a full-service concierge with top level on-site security. There is a fully furnished area (plug and play) with Herman Miller Workstations. Tenants and guests have access to a broad labor base, and commuter bus line. The professional complex is located on the I-280 corridor and offers accessibility to major highways linking to all regions of the New York metropolitan area.

Other Tenants/Available Space

Brown & Brown, the international insurance company, currently occupies 29,500 square feet in 56 at Roseland. Accounting firm ME Safris and Magone and Company has leased 4,000 square feet as well. MDC and Square Mile have additional available space for lease: on the second floor and 51,000 square feet on the fourth floor.

Mountain Development Corp. (MDC) is a full-service real estate company with over 30 years of experience developing, acquiring, constructing, repositioning, managing, leasing and operating commercial property. Active throughout the Northeast, MDC’s staff includes in-house, development, accounting, property management, construction, leasing and marketing professionals, enabling the company to operate autonomously and deliver expeditious, successful results.

Square Mile Capital Management LLC is an integrated institutional real estate finance and investment management firm based in New York. Square Mile’s large U.S. footprint, enhanced by the firm’s strategic partnership with USAA Real Estate Company, enables Square Mile to leverage proprietary market insights through a unified sourcing and investment philosophy that positions the firm to capitalize upon opportunities through all phases of the commercial real estate cycle. Square Mile’s opportunistic investment platform takes a value oriented approach to its activities, with an emphasis on opportunities to acquire or capitalize real estate assets or enterprises that are undervalued, complex or undercapitalized. Square Mile’s commercial real estate debt platform provides customized capital solutions for real estate owners and developers throughout the United States.