UPS Moves into 120,000 Square Feet at Prism's 1655 Valley Road

Upgrades Position Balance of Wayne, N.J., Building as Attractive Opportunity. End Quote

Newark, NJ (1888PressRelease) October 27, 2010 - Package delivery giant United Parcel Service of America (UPS), has taken occupancy of its 120,000-square-foot offices at 1655 Valley Road in Wayne, announced property owner Prism Capital Partners. Extensive capital upgrades completed at the property, following UPS' lease signing earlier this year, have positioned the balance of the 163,000-square-foot building as an attractive, Class A leasing opportunity, according to Gene Diaz, a Prism principal.

UPS' new space houses mission-critical, technology-related business operations formerly located in the Morris Township, N.J., area. Tom Consiglio from Resource Realty represented UPS in brokering its long-term commitment at 1655 Valley Road.

Prism coordinated a total interior retrofit at 1655 Valley Road to ready the space for more than 650 UPS employees. The building's heavy power and efficient floor plates were integral in meeting the company's specifications. Prism also completed parking lot improvements, as well as roof and mechanical upgrades.

"UPS is a multi-billion-dollar corporation and has one of the most recognized and admired brands in the world," Diaz said. "We take great pride in having attracted a tenant of this caliber to 1655 Valley Road, especially in today's challenging environment. By structuring a highly competitive transaction, we have realized our goal to secure a strong anchor for the building, which we purchased as a vacant asset."

The four-story property's top floor, totaling 40,000 square feet, remains available for lease. Additionally, the site has excess land capacity and could support an expansion of approximately 24,000 square feet.

1655 Valley Road's attractive, 11-acre campus sits on the Passaic/Bergen county border in one of New Jersey's prime commercial neighborhoods. The property originally was constructed as a corporate headquarters facility. It is designed with two, 80,000-square-foot wings anchored by a dramatic, full-height glass atrium. The property offers ample parking and onsite amenities including a full-service cafeteria operation, indoor/outdoor patio seating, a fitness center and conference room facilities. 1655 Valley Road is located three miles north of I-80, and approximately 25 miles from New York City and Newark Liberty International Airport.

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