Unlocking the hidden value of an existing property is at the heart of Advance’s redevelopment strategy. With many properties aging significantly in well-established office markets in the U.S., the need for redeveloping existing properties has become a necessity as many of a property’s systems have passed into obsolescence and/or its design no longer fits the needs of today’s tenant requirements. Many of these properties are also in well-located areas with easy access to highways and mass transit as many of them were originally built for this reason. Advance’s expertise in taking such aged building stock and transforming them into modern, state-of-the-art facilities is unsurpassed.

We have demonstrated this capability through the redevelopment of several major projects in our history. Most recently, Advance completed the redevelopment of a former telecom’s regional office headquarters into a 320,000 SF, Class A office headquarters located in Morris Township, New Jersey. The redevelopment included a brand new entryway, a dramatic two-story lobby as well as new mechanical and building systems. With this multi-million dollar, state-of-the-art capital improvement program, Advance has delivered another world class facility comparable to new construction. www.advanceatsouthgate.com

Other redevelopment projects include the redevelopment of an obsolete corporate campus in Florham Park, New Jersey. Advance acquired this 351,000 square foot former ExxonMobil International headquarters, stripped its four buildings down to bare steel and, in a multimillion-dollar renovation program, repositioned it as a gated Class A property in one of New Jersey’s most desirable office locations. Today, Park Place Campus is fully-occupied with several well-know name brand tenants. View Parc Place case study.