Onyx Equities Announces Lease With Alliant Technologies, LLC at Mount Kemble Corporate Center

The 19,602-SF Transaction Validates Ownership’s Recapitalization and Repositioning Strategy 

MORRISTOWN, N.J. (April 2, 2014) — Onyx Equities, a leading private real estate investment, development and management firm, today announced that Alliant Technologies, LLC has signed a 19,602-square-foot lease at Mount Kemble Corporate Center, a two-building, Class A office complex located at 350-360 Mount Kemble Avenue in Morristown, N.J. 

In 2013, a joint-venture partnership of Onyx and Artemis Real Estate Partners acquired the 229,500-square-foot complex with plans to reposition and reintroduce it to the marketplace as a high-quality, low-cost alternative to the other Class A properties in the Morristown submarket.

The lease with Alliant Technologies, which encompasses parts of the first and second floors of 360 Mount Kemble Avenue, validates the partnership’s decision to undertake a number of capital improvements at the complex, including upgrades to its landscaping, concrete walkway, parking lot and bathrooms, and a power washing of the buildings’ facades. The complex, which features a full-service cafeteria and 24/7 key card access, is among the most modern office buildings currently in the market.

Onyx Equities Senior Vice President of Asset Management Jared Minatelli and Senior Vice President of Leasing Adam Karafiol represented ownership in the transaction, while the Cushman & Wakefield team of Executive Vice President Marc Trevisan and Broker Mark Zaziski represented the tenant.

“Alliant Technologies was attracted Mount Kemble Corporate Center’s stable, well-capitalized ownership and rental rates that are below the competitive set in the submarket,” Karafiol said. “By recapitalizing and repositioning the complex, we’ve provided it with a distinct competitive advantage over much of Morristown’s office stock, which was developed in the 1970s and 1980s, making it functionally obsolete. In light of the positive momentum we’ve experienced, we expect the remaining 60,000 square feet of vacancy to lease up quickly.”

Built in 2001, Mount Kemble Corporate Center is also home to respected companies such as Coughlin Duffy Kelly, The Willis Group, Liberty Mutual, Taisho Pharmaceutical and Massey Quick.

Situated on 38 acres, inclusive of a three-acre pond, Mount Kemble Corporate Center is located within five minutes of Morristown Green, Morris County Court House and the Morristown train station, as well as numerous hotels and restaurants. The complex’s location provides tenants with easy access to routes 287, 24/78, 202 and other major New Jersey highways.

About Onyx Equities, LLC

Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading private real estate investment, management and development firm. Since its founding in 2004, Onyx has acquired more than $1 billion worth of real estate assets across the tri-state region. The company currently owns, manages or is the appointed receiver for 21 million square feet of office, retail, industrial, and self-storage properties located in New Jersey, New York, Connecticut and Pennsylvania. For more information on Onyx Equities, contact the firm at 732-362-8800, or visit www.onyxequities.com.

About Artemis Real Estate Partners

Artemis Real Estate Partners is a real estate investment management firm that seeks to invest with niche local operating partners, both established and emerging, in multifamily, office, industrial, retail and senior housing across opportunistic, value added and enhanced core strategies. Artemis has raised $736 million of investor capital across two vehicles:  $436 million of capital for Artemis Fund I and $300 million of capital in a separate account with The New York State Common Retirement Fund. Artemis’s sole focus is U.S. commercial real estate. More information about Artemis may be found at www.artemisrep.com.