Vision and Rubenstein’s 35-Acre Office Campus Offers Unrivaled Hospitality-Inspired Experience
A joint venture partnership between affiliates of Vision Real Estate Partners and Rubenstein Partners, L.P. announced that Sax LLP, a top 100 multi-disciplinary accounting, tax and advisory firm, will be relocating this August from Clifton, N.J., to a 39,810-square-foot office at LATITUDE in Parsippany, N.J. The 35-acre, two-building campus is a unique, hospitality-inspired workplace designed to foster a productive and dynamic work-life experience.
“LATITUDE is designed to transcend the traditional work routine,” said Sam Morreale, founder and managing partner of Vision Real Estate Partners. “At LATITUDE, you don’t just come to the office to work – you come here to share experiences across disciplines and companies to become the most successful version of yourself. We look forward to being a part of this exciting new chapter in the future of Sax LLP.”
Vision and Rubenstein are in the process of transforming the 700,000-square-foot campus into a next-generation, holistic workplace with a design theme that features collaborative spaces inspired by cities from across the U.S. — from New York City to Denver to Los Angeles.
“As our firm has succeeded and rapidly grown over the years, we’ve paid close attention to the ever-changing needs of our employees and clients. With that, we’ve worked to find an environment that brings our capabilities to the next level and strengthens us for the future," said Joseph Damiano, managing partner at Sax LLP. "LATITUDE provides us with world-class services, amenities and an environment that will help us attract the next generation of our workforce. Combined with the building's innovative design, one can’t help but feel energized working at LATITUDE.”
LATITUDE features two symmetrical five-story wings comprised of offices, meeting spaces, and lifestyle services and experiences. The wings connect through a new central glass atrium built by Vision and Rubenstein, featuring common areas, multiple dining options, fitness centers and city-themed spaces for collaboration. As employees travel from one end of the property to the other, they transition through “time zones” punctuated by artistic and design elements, as well as cuisine options with distinct regional flavors. The campus provides flexibility, productivity benefits and an environment usually seen in bespoke, single-tenant build-out campuses. This latest deal is only one component of significant leasing activity at LATITUDE in recent months. Reckitt Benckiser, a British consumer good company, signed a 187,000 square foot lease renewal and expansion in December 2019.
“We believe that the continued leasing momentum at LATITUDE reflects our ability to consistently create the most desirable product in the best locations,” said Stephen Card, Director of Investments and Principal at Rubenstein. “Together with Vision we have made a place for modern businesses, and tenants are embracing it. "LATITUDE is centrally located in Morris County among a community of top corporate neighbors with direct access to retail and services. The property is located less than a mile from Exit 42B on Interstate 80 and can be accessed via Cherry Hill Road to Interpace Parkway from the east, and from Route 46 via Interpace Parkway from the north. The NJ Transit Bus Route 79, with service to Manhattan, stops directly in front of the building.
Tim Greiner and Brendan McBride of JLL represented Sax LLP in this transaction. For more information about the property or to tour available space, please visit https://latitudenj.com/.
About Vision Real Estate Partners
Vision Real Estate Partners is a full-service real estate owner/operator, specializing in development, property management, asset management and construction. The firm is well known for its deep roots and experience in the New Jersey/New York regional marketplace, and for its track record of identifying properties with great potential and transforming them into superior assets. Vision Real Estate Partners currently is developing or redeveloping more than 2 million square feet of space in its local market. The company has over 100 acres of land parcels available for mixed-use and build-to-suit opportunities. Its Vision Management platform also currently oversees property management, financial reporting and overall operational supervision for nearly 1.5 million square feet of office space on behalf of multiple strategic partners. For more information, visit www.visionrep.com.
About Rubenstein Partners
Rubenstein Partners, L.P., founded in September 2005, is a private real estate investment management and advisory firm with operations throughout the United States. The firm is led by its founder, David Rubenstein, and a group of senior real estate executives, and is focused on directing and managing office real estate investments in the U.S. Rubenstein Partners’ predecessor companies, The Rubenstein Company, LP and its affiliates, founded in 1969, was one of the largest private owner operators of Class A office real estate in the Mid-Atlantic, owning and operating a portfolio of assets valued at approximately $1.2 billion at the time of its disposition in 2004. Since 2005, Rubenstein Partners has, on behalf of its investors and clients, invested in more than 22 million square feet of office real estate assets throughout the United States. For more information, visit www.rubensteinpartners.com.
