The Star Ledger - July 14, 2002--Alexander Summer, LLC of Paramus reports strong leasing activity at 55 Madison Ave., Morristown. Recently, four leases have been signed at the Class-A office building, bringing it to 87 percent occupancy. Currently, 12,300 square feet remains available at 55 Madison Ave.
Alexander summer, LLC has been the exclusive leasing and managing agent of this 86,700-square-foot facility for 20 years. The firm has successfully led the repositioning of the facility to Class-A status through a significant capital improvement program, which was recently completed by its property management division. The renovations included upgrades to the building's lobby and common areas. On the exterior, a new canopy and entry sign will be completed this Fall.
At 55 Madison Ave., new leases have been signed on behalf of Maxim Healthcare, one of the fastest growing healthcare companies in the U.S. This is Maxim Healthcare's first branch office in New Jersey.
CRESA Partners, a corporate real estate services firm, now occupies 3,000 square feet.
Insurance IQ a Web-based insurance marketing company, also moved into the building as a new tenant.
In addition, lease expansions at 55 Madison Ave. have been signed with Arch Reinsurance, a global reinsurance company, to now occupy a total of 14,000 square feet; and LG Info Com, a major telecommunications company, to occupy a total of approximately 5,300 square feet.
Christopher Tichio, vice-president of leasing at Alexander Summer, LLC, commented, The recent increase in activity at 55 Madison Ave., can be attributed to workable space layouts, office space in move-in condition and the recent building upgrades. The flexible leasing conditions reflect the owner's willingness to meet the tenant's needs and has enabled us to maintain a high occupancy rate."
Conveniently, located off Exit 35 of Interstate 287, 55 Madison Ave. is just minutes from downtown Morristown and situated across from the Morristown Memorial Hospital. Corporate neighbors include American Home Products and W.E. Simon & Sons.
Alexander Summer, LLC builds long-term relationships with its corporate clients by delivering superior results through responsive service. With an office in Paramus, Alexander Summer, LLC provides its clients with the full range of real estate asset and property management services.
All information furnished regarding properties for sale, rental or financing is from sources deemed reliable but no warranty or representation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice.