About Saxum Real Estate
Saxum: (Latin, noun) stone, rock
Saxum Real Estate is a national, vertically-integrated and privately-held real estate investment and development company. With a proven track record, Saxum has built a best-in-class real estate firm rooted in an entrepreneurial and creative spirit.
Saxum specializes in value-add and development opportunities located in transit-oriented and/or urban-centric markets. Leveraging a vertically-integrated platform, Saxum has the ability to implement a unique approach to creating value and enhancing real estate strategies at every step of the project life cycle.
Our team is comprised of highly skilled real estate professionals with extensive experience as investors in real estate. We focus on areas in which we can leverage our superior market knowledge and local relationships in order to identify and create asset value in any economic cycle.
Saxum specializes in value-add and development opportunities located in transit-oriented and/or urban-centric markets. Leveraging a vertically-integrated platform, Saxum has the ability to implement a unique approach to creating value and enhancing real estate strategies at every step of the project life cycle.
Our team is comprised of highly skilled real estate professionals with extensive experience as investors in real estate. We focus on areas in which we can leverage our superior market knowledge and local relationships in order to identify and create asset value in any economic cycle.
Featured Project
40 Beechwood Road, Summit, NJ
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Saxum Real Estate acquired 40 Beechwood Road in August 2017. At the time, the building totaled approximately 15,000 square feet and had been unoccupied for almost a decade. The building was dilapidated and deteriorating rapidly. It was often regarded as the most underutilized building in downtown Summit and considered a significant eyesore. Upon acquisition, Saxum and its partner, MRY Associates, worked with the municipality of Summit, NJ to achieve zoning approvals for the redevelopment and expansion of the building. Saxum achieved approvals to expand the building by more than 30% to include rooftop conference space and to repurpose a former walkway into a glass reading room. Saxum created the first green roof and one of the only private rooftop bars in Summit, NJ. Additionally, approvals were granted to repurpose the lower level to a state-of-the-art fitness and wellness center and to rework the site plan to better utilize the parking lot.
Concurrently while seeking approvals, Saxum and the project team worked to secure a tenant for the renovated facility. Ultimately, a long- term lease was signed with Energy Capital Partners, a leading private equity firm that planned to relocate its headquarters from Short Hills to downtown Summit. The relocation of ECP brought a over 35 new jobs to downtown Summit and reinvigorated the formerly vacant building. The construction process was completed in under 12 months and comprised of a full redevelopment. The building at 40 Beechwood was stripped down to its steel structure and completely rebuilt to include state-of-the-art systems, features, finishes and to incorporate many energy efficiencies through out the building. Upon completion, 40 Beechwood is regarded as one of the premier boutique office buildings both within Summit as well as New Jersey. The quality of the asset, tenant improvements, finishes and fixtures are exceptional and rarely seen in New Jersey office space. |
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