Summit Corporate Center
180 River Road, Summit, NJ
In September 2019, Saxum acquired the Summit Corporate Center, a fully occupied class B office building located along Route 24 and less than five minutes from the heart of downtown Summit. The 42,178 square foot, two-story property is anchored by a leading insurance brokerage firm who occupies over 21,000 square feet, with two additional firms representing the insurance and legal industries rounding out the tenant roster. Collectively, the tenants had over four years of weighted-average lease term remaining at time of purchase.
The property boasts premier visibility and unparalleled access at the confluence of JFK Parkway and Route 24, with the Summit Train Station just minutes away providing direct access to New York City. With a coveted Summit address, close proximaty to the 1.4 million sf Short Hills Mall, and downtown Summit providing a wealth of additional restaurants and retailers, the Summit Corporate Center offers a nearly unrivaled tenant experience.
Saxum acquired the property in partnership with the Becker Organization, and will be implementing a capital improvement plan to renovate the lobby, modernize common areas, and upgrade the parking garage. Upon completion, the Summit Corporate Center will have been transformed into one of the highest quality and best located office buildings in the Summit market.