Transportation-oriented Class A office property, located in a desirable urban-suburban mixed-use park accessible from NYC in 15 minutes by public transportation.

Marcus Partners completed a $15+ million redevelopment program to convert 500 Plaza to a best-in-class headquarters-quality facility.

At the time of acquisition, 500 Plaza Drive was struggling with occupancy, was under-parked, and required significant capital improvements.

During its ownership (through a joint venture with an institutional partner), Marcus Partners executed a major redevelopment program including the construction of a new parking garage, lobby and common area upgrades, a full service cafeteria, conference center, fitness center, and rooftop patio. This redevelopment converted the property to a best-in-class asset.

Once repositioning was complete, we increased occupancy from 74% to 99%, including a new corporate headquarters for Quest Diagnostics.

After completing our business plans, Marcus Partners and its JV partner sold 500 Plaza Drive to a third party owner.  Marcus Partners continues to manage 500 Plaza Drive on the new owner’s behalf.

Fully renovated, architecturally distinct 5-story glass atrium lobby featuring a grand staircase, concierge desk, tenant lounge, full service café, and fitness center.