Recent News | Acquisitions and Development
July 2017
Marcus Partners Announces Sale of 500 Plaza Drive in Secaucus, NJ
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BOSTON, MA - Marcus Partners, a value-oriented real estate investor, developer and operator, today announced that, in conjunction with a global institutional partner, it has sold 500 Plaza Drive, the world headquarters of Quest and The Children’s Place, in Secaucus, New Jersey. 

500 Plaza Drive is an approximately 460,000-square-foot Class A office tower offering urban convenience within a prime suburban location. Located at the crossroads of Route 3 and the New Jersey Turnpike, 500 Plaza is accessible via public transportation in approximately 15 minutes from Midtown Manhattan. The property is situated within the iconic 200-acre Harmon Meadows, a 4.4M square foot amenity-rich environment with numerous restaurants and hotels, more than 1 million square feet of national and big box retail, a newly developed LA Fitness Club and a 14-screen movie theater. The “live, work, play” nature of Harmon Meadows will be further bolstered by Hartz Mountain’s development of 470 new apartments, expected to be completed this Fall.

During its ownership, Marcus Partners completed a $17.8 million base building capital improvement program which transformed the property into a state-of-the-art, high quality work environment. The repositioning program included a complete lobby renovation, significant common-area upgrades, creation of a full-service cafeteria, coffee bar, conference center, and high end fitness center/locker rooms, along with substantial upgrades to both building finishes and grounds. As part of the program, Marcus Partners also constructed a new 222-car parking deck, renovated an 1,100-car parking deck, and created 34 visitor-parking spaces. Since the renovations were completed, ownership has signed five leases totaling approximately 258,000 square feet, which collectively increased occupancy to 99%. Leasing activity included a new world headquarters location for Quest Diagnostics Incorporated and a renewal of AXA.

“The newly redeveloped 500 Plaza offers tenants and visitors alike an exceptional work environment, providing both the convenience and amenities demanded by premier organizations and their employees. Today the property is a unique headquarters-quality facility and we are proud to continue providing property management services under the property’s capable new ownership,” said Paul Marcus, CEO of Marcus Partners.

500 Plaza Drive was the last acquisition in Marcus Capital Partners Fund I, LP. Marcus Partners is currently investing its fully discretionary $250 million Marcus Capital Partners Fund II, LP, pursuing a mix of strategic and opportunistic investment strategies. It is seeking well-located commercial office, medical office, industrial, research and development, and life science properties located along the East Coast. It currently owns and/or manages a diversified portfolio that includes nearly 8 million square feet of commercial real estate.  

July 2017
Shawn Hurley to Join Marcus Partners as President
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Recent CEO of Skanska USA Commercial Development has Developed more than $3 Billion in Commercial Real Estate over 20+ Year Career

BOSTON, MA - Marcus Partners, a value-oriented real estate investor, developer and operator, today announced that Shawn Hurley will join the firm as President, effective September 1, 2017. 

Mr. Hurley will be joining Marcus Partners from Skanska USA Commercial Development, where he was President & CEO. 

“I am delighted to have Shawn join me in leading the firm,” said Paul Marcus, Chief Executive Officer of Marcus Partners.  “He is a highly respected industry veteran with a deep and complementary skill set, demonstrated leadership acumen, and steadfast integrity.  Shawn’s expertise will further diversify our capabilities and enhance our ability to create value for our investors, partners, and tenants. We all look forward to welcoming him on board in September.” 

As President & CEO of Skanska USA Commercial Development, Mr. Hurley was responsible for setting the vision of the firm and managing the investment and development strategy in the U.S. with a focus on the growth and diversity of the portfolio.  He has particular experience in delivering highly innovative and sustainable office, residential, life science and mixed-use projects in markets across the country.  He was a member of the senior leadership team for Skanska’s global Commercial Development group and Skanska’s U.S. operation. He also served as a member of the Board of Skanska’s building construction group. 

At Skanska, Mr. Hurley led the effort in the acquisition and development of 101 Seaport, a 440,000 square foot office building in Boston, MA anchored by PwC, which was sold in 2016.  Most recently, Mr. Hurley was responsible for the development of 2.3 million square feet of office and nearly 550 multi-family units including Watermark Seaport (Boston, MA), 121 Seaport (Boston, MA), 2112 Penn (Washington, D.C.), Capitol Tower (Houston, TX) and 2+U (Seattle, WA).  

Over the course of his 20-plus year career, Mr. Hurley has developed more than $3 billion of commercial real estate.  He began his career with Hines in Los Angeles.

“I’ve known Paul for over 15 years and have great respect for what he and the firm have accomplished. Marcus Partners has a superb reputation as a successful value-oriented investor, developer and operator with an unwavering commitment to its investors and a disciplined approach to real estate investing. I have long shared Paul’s entrepreneurial spirit and his passion for real estate and now I get to partner with him and the team to broaden the Marcus Partners platform and create new opportunities to drive performance on behalf of our investors,” said Mr. Hurley. 

Mr. Hurley’s hire follows that of Ryan McDonough, a new Principal Marcus Partners added to the team in June from Bentall Kennedy.  Mr. McDonough’s expertise is focused in residential and office properties.

Mr. Hurley received a Master of Science from Massachusetts Institute of Technology and a Bachelor of Arts from Washington University in St. Louis. Mr. Hurley is a member of the Advisory Board of the MIT Center for Real Estate. A Boston native, he resides in Newton, MA with his wife and two children.

June 2017
New Jersey Landlords Sweeten Perks With Ride-Hailing Subsidies
By Keiko Morris | Wall Street Journal

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Services such as Uber and Lyft could help companies, especially those near public transportation and downtowns, brokers say.

New Jersey office landlords have been sprucing up their properties with everything from food trucks to fitness centers to compete in an era when urban amenities are in vogue.

The latest enticement: Subsidies for digital ride-hailing services such as Uber and Lyft. Hugo Neu Corp. in March launched a program offering $50 monthly credits for each tenant employee without a car to commute to Kearny Point, an ongoing project to redevelop historic shipyard buildings into office and light-industrial space in Kearny, N.J.

The real-estate investment firm Marcus Partners, meanwhile, is offering new tenants a ride-sharing program that pays the first $3 of a trip to or from its newly acquired office building just outside Morristown’s center in New Jersey.

“Morristown is a wonderful town not only because you have a train station but also because you have restaurants and nightlife,” said David P. Fiore, a principal at Marcus Partners and head of the company’s New York metro region. “We thought the flexibility of a ride-sharing program allows tenants and employees a strong connection to downtown.”

While residential landlords nationwide have been testing similar programs, such incentives from office owners are relatively rare. Services such as Uber and Lyft could help New Jersey office landlords, especially those in areas that are a few minutes’ drive to public transportation and vibrant downtowns, real-estate brokers said.

Subsidizing ride-hailing services also could help landlords attract tenants looking to pack more people into less office space, particularly in areas where parking is tight, brokers said.

“The trend is companies putting more people in less space for efficiency and cost effectiveness,” said David Simson, a vice chairman at real-estate services firm Newmark Grubb Knight Frank. “When you are in the suburbs, you run against the wall that is parking.”

Older office buildings were built with three to four parking spaces per 1,000 square feet of office space, but modern office spaces require upward of five spots per 1,000 square feet, according to a Newmark report. Adding parking decks can cost between $20,000 and $35,000 per space, the report said.

Parking constraints for train commuters prompted Summit city officials last fall to launch a pilot program subsidizing city residents’ rides to and from the train station. The participants pay $4 a day round trip and the city subsidizes the rest.

So far the program, a possible alternative to expensive new parking, has freed up 30 to 35 parking spaces a day, said Michael Rogers, Summit’s city administrator. The city has increased the number of participants in its program from 100 to 150 people.

Adequate parking, however, hasn’t been the issue for the property at Kearny Point’s Building 78, which houses many small businesses from tech firms to artisanal food makers, and offers a co-working space. Hugo Neu, which owns and develops real estate, added the Uber credits to provide another transportation option and has found that its co-working tenants, many of whom don’t have cars, have been using about half of the credits, said Nick Shears, director of leasing at Hugo Neu.

The Uber subsidy is what allowed Alak Vasa, founder of chocolate maker Elements Truffles, to add three people to her team at Kearny Point and keep a critical employee who had been with the company in its first space in Jersey City.

“We have people who live in Jersey City who we have already invested in,” Ms. Vasa said. “How do we get them here?” Marcus Partners is hoping the incentive will provide a seamless connection to downtown Morristown, which is nearly 2 miles away.

The ride-share program, which isn’t yet in use, is one more amenity the company hopes will draw tenants to the 121,000 square feet of space available at the Morristown building, which its brokers said offers less expensive rents than those downtown. Marcus also is investing about $7.6 million in improvements that include a new glass facade, better lighting and terraces.

“The divide we have to get across is being in a downtown location,” said Bill Brown, executive director at real-estate services firm Cushman & Wakefield and part of the team marketing the building. “And the way we’re trying to bridge the gap is with a ride- sharing service.”

Article by Keiko Morris | Wall Street Journal

June 2017
Marcus Partners Purchases 300 Massachusetts Avenue in Boston
Plans Transformational Interior Upgrades at Iconic Property

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Boston, MA – Marcus Partners is pleased to announce the acquisition of 300 Massachusetts Avenue (“Horticultural Hall”), an architecturally distinctive 45,000 SF mixed-use property located at the intersection of Huntington Avenue and Massachusetts Avenue in Boston’s Back Bay. Occupying a prime corner lot, this jewel box building is well-situated for a wide variety of users, including office, retail, and institutional use.

“Tenants are increasingly being drawn to this corner of the Back Bay, with the significant renovations occurring on the adjacent Christian Science Plaza, the arrival of the new Four Seasons Hotel, Flour Bakery, the vibrancy and energy created by the adjacent institutions all really differentiate this location as a magnet for creative and tech companies. 300 Mass Avenue offers all of those adjacencies and a wholly unique and architecturally significant environment that will be dramatically upgraded,” said Pete Cameron, a Principal with Marcus Partners.

Nestled within an area dominated by prominent cultural and educational institutions (such as the Boston Symphony Orchestra, the Huntington Theatre, the Museum of Fine Arts, Northeastern University, and Wentworth Institute of Technology), 300 Massachusetts Avenue abuts a significant level of new development, including a 61-story Four Seasons hotel and residences as well as 30 Dalton, a recently completed 218-unit luxury residential and retail property. 300 Massachusetts Avenue is located directly adjacent to two MBTA subway stations, providing exceptional access throughout Downtown Boston and Cambridge, while major highways such as I-90 and I-93 are minutes away. Tenants at 300 Massachusetts Avenue also benefit from countless neighborhood amenities, including a wide variety of dining, shopping, and entertainment destinations.

A unique, Beaux Arts brick and stone structure with oversized ornate windows, 300 Massachusetts Avenue has earned a spot on the National Historic Register for both its architectural appeal and historic significance. Both institutional and creative tenants currently occupy the property, which offers a variety of tenant space types, facilitated by the property’s tall ceilings and oversized windows. Marcus Partners has planned a multi-million dollar capital program to further increase the property’s appeal for the creative, technology, and institutional users currently driving the market. The program includes a fully renovated lobby and restrooms, upgraded entrances, and mechanical systems upgrades to fully modernize the facility.

Marcus Partners is currently investing its fully discretionary $250 million Marcus Capital Partners Fund II, LP, pursuing a mix of strategic and opportunistic investment strategies. It is seeking well-located commercial office, medical office, industrial, research and development, and life science properties located along the East Coast. It currently owns and/or manages a diversified portfolio that includes approximately 4.5 million square feet of commercial real estate.

June 2017
Ryan McDonough Joins Marcus Partners as Principal
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Boston, MA – Marcus Partners a value-oriented real estate investor, operator and redeveloper, today announced that Ryan McDonough has joined the firm as a Principal with a focus on the New England market.

“I am delighted to have Ryan join our senior team,” said Paul Marcus, Chief Executive Officer of Marcus Partners. “His deep experience and familiarity with office, residential, medical office, and industrial acquisitions and asset management will further enhance our company’s ability to deliver strong returns and create value for our investors.”

During his career, Mr. McDonough has been responsible for the acquisition, development, sale or financing of more than $1.8B worth of real estate, including office, industrial, residential, retail and mixed- use properties.

“The Marcus Partners team has a long track record of delivering strong performance on behalf of its investors and partners. Their reputation as one of the best value-oriented investors and operators in the market is well-deserved, and I am excited to join their team of talented and principled professionals,” said Mr. McDonough. “I look forward to partnering with Paul, Pete Cameron, Bill McAvoy, David Fiore, and other team membersto build on their significant past success, enhance the Marcus Partners platform and help drive performance on behalf of its investors and partners.”

Mr. McDonough joins Marcus Partners from Bentall Kennedy, one of North America’s largest real estate investment managers and advisors, with over $34B of AUM across product types and markets. Mr. McDonough played a lead role in expanding the firm’s Boston footprint over the past five years, highlighted by three acquisitions in Boston’s Seaport District, which created a significant portfolio comprised of six office buildings and three parking garages.

Prior to joining Bentall Kennedy, Mr. McDonough worked at GID Investment Advisors, a Boston-based real estate investment firm where he focused on the acquisition and development of multifamily communities along the East Coast.

Mr. McDonough earned a B.A. in Economics from Brown University.

March 2017
Marcus Partners Purchases 44 Whippany Road in Morristown, NJ
Plans Transformational Repositioning Program

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Norwalk, CT – Marcus Partners is pleased to announce the acquisition of 44 Whippany Road, a 229,157 SF first class office building in Morristown, NJ for its newest fund, Marcus Capital Partners Fund II, L.P. Over the last three and a half years, Marcus Partners has purchased over 1 million square feet of commercial real estate in New Jersey alone, including both office and life science properties.

44 Whippany Road is centrally located with quick access to Interstates 287, 78, 80 and Route 24. Tenants at 44 Whippany also benefit from convenient train connectivity, with two train stations located less than 5 minutes away from the property offering transportation throughout Morris and Essex communities as well as points east including Newark and New York City.

Marcus Partners will immediately commence a $7.6 million capital improvement program that will transform the property into an exceptional, high quality office property matching the standards Marcus Partners has set at other properties it owns throughout the Tri-State area. The planned repositioning program includes site and landscape improvements, building identification enhancements, upgraded entrances, a fully renovated lobby, modernized café, expanded conference center, targeted façade upgrades, and other improvements to modernize, lighten, and brighten the property. To date, Marcus Partners has successfully completed approximately $66 million of redevelopment work at its other New Jersey assets.

“Tenants are increasingly seeking to locate within attractive live-work- play environments, particularly those with strong connectivity and transit accessibility. 44 Whippany offers these locational benefits and will soon be transformed into the interior office environment today’s top tenants demand – a bright, welcoming, and cheerful environment that simultaneously maximizes natural light, offers modern amenities, and encourages collaboration," said David Fiore, head of Marcus Partners’ Metro New York office.

One of the primary markets in Northern New Jersey, Greater Morristown has been growing rapidly in recent years. The strength of the overall market is due to Morristown’s fashionable and amenity-rich downtown, tremendous connectivity, strong demographics, large regional hospital, and high quality office stock. The area is recognized as a leading location for businesses within New Jersey.

The HFF investment sales team that represented the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli and associate director Marc Duval.

Marcus Partners is currently investing its fully discretionary $250 million Marcus Capital Partners Fund II, LP, pursuing a mix of strategic and opportunistic investment strategies. It is seeking well-located commercial office, medical office, industrial, research and development, and life science properties located along the East Coast. It currently owns and/or manages a diversified portfolio that includes approximately 4.5 million square feet of commercial real estate.

January 2017
Media giant Hearst relocates regional headquarters to 7 Merritt Park
by Real Estate Weekly

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Clarion Partners and Marcus Partners announced that Hearst signed a new long-term lease for 30,251 s/f at Merritt 7 Corporate Park, the six building, 1.4 million square foot office complex in Norwalk.

“We are delighted that a company of Hearst’s stature selected Merritt 7 as their regional Connecticut headquarters, and that we were able to accommodate all their requirements in an efficient manner, as they consolidate from multiple locations,” said Margaret Egan, Senior Vice President, Clarion Partners. “This project brings their entire Fairfield County workforce to a Class-A workplace environment, allowing Hearst Connecticut Newspapers to optimize its operations."

The relocation of the media giant to Merritt 7 will result in a consolidation to one regional headquarters, from multiple office locations in Fairfield County.

The deal is recognized as one of the most high profile office transactions and the largest lease closed in the central Fairfield County market in the fourth quarter of 2016. Hearst will occupy the entire first floor of Building 301 Merritt 7, in a lease that spans 11-years. The move to Merritt 7 is anticipated to take place on April 1, 2017. Merritt 7 will serve as the location for the organization’s regional corporate headquarters, senior management and staff, finance, human resources, circulation departments, and additional corporate functions. Hearst Connecticut Media will keep bureau offices for news reporting and advertising sales in Bridgeport (including printing presses), Danbury, Stamford and Greenwich.

“Hearst’s relocation to Merritt 7 reinforces the property’s position as a preeminent address for major corporations seeking a central location, contemporary office environment, pleasing ambiance and exceptional onsite amenities,” said David Fiore, principal of Marcus Partners. “Merritt 7 provides an environment essential to a great a workforce and workplace experience."

The landlord was represented internally by David Fiore and JoAnn McGrath of Marcus Partners, and the outside CBRE leasing team of Tom Pajolek, Ned Burns, Robert Caruso and Stephen Greenbush. Tom O’Leary and William Montague of Cushman & Wakefield represented Hearst.

With the completion of the Hearst transaction, Merritt 7 is 97% leased. There remains 53,000 s/f available for lease — with units ranging from 2,000 s/f to the entire Penthouse of Building 601, totaling 14,000 s/f.

Article by Real Estate Weekly

August 2016
Marcus Partners Bolsters Executive Team
Names Steve Wassersug Principal

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Boston, MA – Marcus Partners,, a value-oriented real estate investor, operator and redeveloper today announced that Steve Wassersug, formerly the firm’s Senior Vice President of Construction and Development, has been promoted to Principal.

“I am delighted to welcome Steve to the Principal team,” said Paul Marcus, Chief Executive Officer of Marcus Partners. “Our team, tenants, and limited partners have all benefited from Steve’s deep experience and broad skillset. Steve is a well-respected industry veteran, known not only for his construction and development management skills, but also for his personal integrity. It is a pleasure to formally acknowledge his senior leadership role at the firm, where I know he will continue to make tremendous contributions.”

Prior to joining Marcus Partners, Mr. Wassersug spent 15 years with Jones Lang LaSalle, where he was most recently Managing Director of the New England Construction Company. In that capacity, he was responsible for the day to day operations of the $100M construction management firm.

Mr. Wassersug recently oversaw all construction as part of a $16.5 million repositioning program at 500 Plaza Drive, a 460,000 square foot Class A office tower in Secaucus, NJ, jointly owned by an affiliate of Marcus Capital Partners Fund I and an institutional partner. The program transformed the property into a best-in- class quality office building with upgrades including a comprehensive renovation of the five-story atrium lobby and common areas and the creation of prime amenity spaces, including a new 90-seat conference center, fitness center, full service café, and coffee bar. The property improvements also included the construction of a new 222-car parking deck, renovation of an existing 1,100-car parking garage, and the creation of 34 visitor parking spaces in front of the building.

In addition to his construction and development management responsibilities, Mr. Wassersug is also integrally involved in the firm’s acquisition due diligence efforts and ongoing asset management activities.

Marcus Partners is currently investing Marcus Capital Partners Fund II, a $250M value-add fund. The 40-person firm is led by its nine-member Principal team, comprised of Paul Marcus, Frank Wuest, David Fiore, David Hooke, Bill McAvoy, John Busby, Jan Machnik, Pete Cameron, and Steve Wassersug, a team that has worked together for an average of 13 years and have an average of 30 years of real estate industry experience.

July 2016
Parking becoming key part of deals: Office space shrinking, but not need for spots
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When it came time to market 10 Sylvan Way to tenants last year, Normandy Real Estate Partners made sure to leave no stone unturned.

That meant completing the base building design and securing the local approvals needed to gut and rebuild the 125,000-square-foot office property in Parsippany. But the firm saw one other issue it had to tackle: The 30-year-old building would need more parking to accommodate the type of high-end, high-density corporate user it was seeking.

“(That) was something that came a little bit later in the design, as we started talking to tenants and recognized that this is something that is going to be an important problem to solve, to make sure we check every box,” said Paul Teti, principal and head of leasing for Normandy.

The developer did just that by building a new single-story parking deck and redesigning the surface lot at 10 Sylvan, upgrades that increased the parking capacity from 388 to 522 spaces. They also were also a key selling point for Zoetis, the onetime Pfizer animal health spinoff, which has leased the full building as its headquarters and will move in around Labor Day.

“I can say without question that adding that parking was an absolutely critical component in order to get this specific tenant and, I think, any tenant of this size into the project,” Teti said. “(In the 1980s), the space utilization was just completely different, and the site was planned for that kind of parking, so being able to solve for the parking with the single-story deck made all the difference in the world and allowed us to capture the tenant, for sure.”

Landlords and developers in New Jersey are taking a likeminded approach. As corporate tenants pack more employees into smaller spaces — in an effort to save on real estate costs — the parking capacity at many suburban office buildings is no longer enough.

Building owners are responding by adding to that capacity, a move that helps them stand out in a market with a glut of highway-centric office space.

“It certainly is a competitive advantage, but I actually think it’s more of a necessity,” said David Fiore, principal and New York area market director for Marcus Partners.

The Boston-based real estate investment firm owns 500 Plaza Drive in Secaucus, where it recently built a new 222-car parking deck and last month inked a 130,000-square-foot lease with Quest Diagnostics.

Building a parking structure is not quite so simple, given the costs and the need to secure approvals from the local government. Experts say building costs can range from $20,000 to $35,000 per space, meaning even smaller projects can amount to millions of dollars.

Fiore said the structure at 500 Plaza Drive, along with the renovation of an existing 1,100-space garage, accounted for about a third of roughly $17 million in capital improvements launched by the firm after it acquired the building in 2014. But it was a worthwhile investment to attract a tenant such as Quest and the roughly 600 employees that will move in by next year.

“It was always part of the program,” Fiore said. “A central part of our acquisition of the property was to have the ability to increase the parking density, because we knew that any major users out there that we were trying to attract would come to us and say, ‘We need more parking than the standard building.’ ”

Tim Greiner, a broker and executive managing director with Newmark Grubb Knight Frank, said those costs are typically passed onto tenants, but noted that those companies are likely saving on rent in the long run because they’re taking significantly less space. He said there are other tenants in the market that are seeking smaller footprints and will likely push landlords to readapt their parking options.

It’s one reason why Lincoln Equities Group, which Greiner’s firm represents, presented the option of building a new parking structure earlier this year as it marketed the vacant, 450,000-square-foot former Pfizer building at 5 Giralda Farms in Madison.

As for obtaining local approvals, he said governing bodies have long sought to minimize parking garages on properties in their towns. But with the state’s abundance of empty office buildings, those municipalities that wish to compete for major corporations “have changed their tune and are working with those owners and developers.”

“A lot of towns, historically, have said, ‘I don’t want a big parking deck on my lot — it’s ugly, it doesn’t do anything, it’s just not a pretty sight in the middle of suburban office parks to have these giant decks everywhere,’ ” Greiner said. “But those towns that are letting developers do that will win more deals going forward because it’s definitely a trend that’s happening.”

Teti expects the ability to add parking to be increasingly important in vying for suburban deals, but not simply because companies have consolidated their footprints across the board. Corporate tenants such as Zoetis “may not be solving for that parking issue every day,” he said, but have to allow for ebb and flow in their headcount for those times when work-from-home or out-of-market employees need to show up at the office.

“(Some of these companies have) town hall meetings and things like that, where they’ve got days where their population swells and that’s where the additional parking need often times comes in,” Teti said. “So it’s not necessarily going to be utilized every day, but it’s a critical component of their plan going forward.”

New deck design
For landlords who are building new parking structures to compete for tenants, the column-filled, concrete boxes of the past are no longer an option.
“Any new structure that we build, we build column-free so that you don’t have to worry about backing out and losing your mirror to a column,” said David Fiore, principal and New York area market director for Marcus Partners, which owns 500 Plaza Drive in Secaucus. “So we make the parking decks as comfortable and easy to use as possible.
“And, of course, people are always concerned about security, so we typically have things like gates and cameras to monitor the garages. Good lighting is also very important.”

- Article by Joshua Burd at njbiz.com

June 2016
Quest Diagnostics to Relocate Headquarters to 500 Plaza Drive in Secaucus, NJ
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Norwalk, CT - Marcus Partners, a value-oriented real estate investor, announced today that Quest Diagnostics Incorporated, (NYSE: DGX), the world's leading provider of diagnostic information services, has signed a 130,200 square foot long term lease on the top four floors of 500 Plaza Drive in Secaucus, NJ, which will serve as the company’s new headquarters location.

500 Plaza Drive is a 460,000 square foot Class A office tower, which was purchased in mid-2014 as the last investment in Marcus Capital Partners Fund I, L.P., in a venture with a global institutional partner. The property, which already serves as headquarters for The Children’s Place, in addition to several other notable tenants, is now 99% leased.

Marcus Partners is currently investing its $250 million Marcus Capital Partners Fund II, L.P. in a variety of unique office properties like 500 Plaza Drive, as well as other value-add medical office, mixed use, warehouse, and industrial properties in select markets along the East Coast.

Marcus Partners recently completed a transformative $16.5 million repositioning program at 500 Plaza Drive to create a best-in- class quality office building. Upgrades include a comprehensive renovation of the five-story atrium lobby and common areas and the creation of prime amenity spaces, including a new 90-seat conference center, fitness center, full service café, and coffee bar. The property improvements also include the construction of a new 222- car parking deck, renovation of an existing 1,100-car parking garage, and the creation of 34 visitor parking spaces in front of the building.

David Fiore, who leads Marcus Partners’ NYC Metro office said, “We look forward to welcoming Quest Diagnostics to 500 Plaza. This is a special asset, and with the transformation of the property, we realized our vision to deliver the best asset in the market. I have to admit, the transformation even exceeded my expectations. My hat’s off to Gensler and our entire design and construction team.” Gensler, led by Dana Nalbantian, was the architect for the project.

The move to 500 Plaza Drive allows Quest Diagnostics to retain its New Jersey employees while being in better proximity to public transportation and many of its major health providers. The new office location will host approximately 600 employees.

Quest Diagnostics was represented by David Opper and David Zelinski of CBRE, and Marcus Partners was represented by Geoff Schubert, Brian Godau and Todd Ward of CBRE.

May 2016
Marcus Partners Announces Sale of 297 State Street in North Haven, CT
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North Haven, CT – Marcus Partners is pleased to announce that Marcus Capital Partners Fund I, L.P. has completed the sale of 297 State Street in North Haven, CT. Marcus Partners purchased this 386,135 SF warehouse / industrial property in May of 2011.

April 2016
Marcus Partners Bolsters Executive Team
Names Frank Wuest President and Peter Cameron Principal

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Marcus Partners, a value-oriented real estate investor, operator and redeveloper today announced two senior level promotions: Frank Wuest, formerly a Principal of the firm, has been appointed to the newly-created role of President of Marcus Partners; and Peter Cameron, formerly the firm’s Senior Vice President of Asset Management, has been promoted to Principal. Both appointments are effective immediately.

“I am delighted to welcome both Frank and Pete into their new, senior leadership roles” said Paul Marcus, Chief Executive Officer of Marcus Partners. “Both are well-respected real estate industry veterans with broad skillsets, demonstrated leadership qualities, unwavering integrity, and steadfast commitment to serving the needs of our investors. They will both make significant contributions as we continue to grow Marcus Partners.”

Mr. Wuest, who joined Marcus Partners one year ago, will remain head of the firm’s Boston-area efforts, and will now share with Paul Marcus in overall firm management responsibilities and decision-making.

Over the course of his 30-year career, Mr. Wuest has been responsible for the acquisition, development, sale or financing of more than $8 billion of real estate, including office, industrial, residential, retail and mixed-use properties. Prior to joining Marcus Partners, Mr. Wuest was the President of the Boston office and Science and Technology Group of Forest City Enterprises; and earlier, held senior level positions at both AEW Capital Management and Copley Real Estate Advisors.

In his new role as Principal, Mr. Cameron will continue to oversee all of Marcus Partners’ Boston-area asset and property management efforts, while simultaneously contributing his considerable experience as a new member of the firm’s leadership team.

Before joining Marcus Partners eight years ago, Mr. Cameron was a Project Director at Corcoran Jennison as well as the Director of Leasing and Asset Management at the Nelson Companies. During his career, Mr. Cameron has led the development and leasing of over 1.5 million square feet of office, laboratory, and residential property.

Marcus Partners is currently investing Marcus Capital Partners Fund II, a $250M value-add fund. The firm is led by its eight-member Principal team comprised of professionals who have worked together for an average of 14 years and have an average of 28 years of real estate industry experience.

March 2016
Marcus Partners Announces Sale of 8 King Road in Rockleigh, New Jersey
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Marcus Partners is pleased to announce that Marcus Capital Partners Fund I, L.P. has completed the sale of 8 King Road in Rockleigh, New Jersey. Marcus Partners acquired this 190,970 SF office property in May of 2013. During due diligence, the team secured a 15 year lease renewal and expansion with the primary tenant and at closing the property was 100% leased. During its ownership, Marcus Partners completed a major redevelopment that transformed the property into a state-of-the-art modern life science facility and corporate office.

December 2015
Marcus Partners Announces Acquisition of Park Plaza I in Rockville, MD
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Rockville, MD - Marcus Partners, announced today the acquisition of Park Plaza I (Rockville, MD) through its most recent fund, Marcus Capital Partners Fund II, L.P.

Park Plaza I, together with Park Plaza II (acquired in June 2015) is a 264,285 SF Class A office property located in Rockville, MD on Gaither Road. As part of the Park Plaza I acquisition, Marcus Partners also acquired the ground lease which had previously encumbered Park Plaza II.

Park Plaza I (built in 1991) and Park Plaza II (built in 2001) offer direct access to Interstate 270, Interstate 370, and Route 355. Located a short drive from the Shady Grove Metro and Gaithersburg Stations, the properties are surrounded by numerous restaurants and are situated within a mile of three major shopping centers (Falls Grove, Washingtonian Center, and King Farm Village Center).

Marcus Partners has planned a repositioning program for the property focused on amenity spaces and common areas, highlights of which include a new high-end café, coffee bar, and outdoor space transformation.

October 2015
Ameriprise Holdings Signs 7,640 SF Lease at 10 Wright Street in Westport, CT
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Norwalk, CT - Marcus Partners, a value-oriented real estate investor, announced today that Ameriprise Holdings has signed a long term lease at 10 Wright Street, a property owned by an affiliate of Marcus Capital Partners Fund II, L.P.

Acquired by Marcus Partners in October of 2014, 8 and 10 Wright Street are currently undergoing a $5 million transformative renovation. The centerpiece of the program is the installation of new floor-to-ceiling windows, which offer spectacular views of the Saugatuck River and historic Westport Center.

The property’s lobbies, restrooms, elevators, landscaping, paving, entrances, signage, parking decks, and mechanical systems are undergoing significant improvements as part of the program.

David Fiore, who leads Marcus Partners’ NYC Metro office in Norwalk, CT, said, “We look forward to welcoming Ameriprise to 10 Wright Street in 2016. This lease recognizes the transformative repositioning program currently under way at 8 and 10 Wright Street and affirms its place as an excellent, best-in-class property.”

10 Wright Street and the adjacent 8 Wright Street jointly contain 84,000 square feet of office space and now have approximately 10,000 square feet remaining available for lease. The property’s immediate neighborhood is thriving with coffee shops, restaurants, and bars, while Westport Center boasts one of the most sought after Main Street addresses in America and is home to many national and local retailers as well as a thriving arts and literary community.

Marcus Partners is one of the largest owners and managers of real estate in the Fairfield County market. It owns and operates more than three million square feet of commercial space out of its New York Metro office in Norwalk, CT, and approximately five million square feet of commercial space overall along the East Coast.

Marcus Partners is currently investing its $250 million Marcus Capital Partners Fund II, L.P. in select markets on the East Coast. When fully invested, the Fund will own approximately $600 million of commercial real estate.

July 2015
$345 Million in Financing Secured for Charles River Plaza North Adjacent to Massachusetts General Hospital in Boston
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Marcus Partners and The Davis Companies announced today that they have obtained $345 million in first mortgage and mezzanine financing for Charles River Plaza North, a 354,594-square-foot, state-of-the-art office/research building adjacent to and long-term leased by Massachusetts General Hospital (MGH) in Boston, Massachusetts.

Holliday Fenoglio Fowler, L.P. (HFF) worked on behalf of Marcus Partners and The Davis Companies to secure the loans, including a $245 million, fixed-rate loan with UBS and a $100 million mezzanine loan with TIAA-CREF. Loan proceeds were used to refinance an existing CMBS loan which was originated in 2007.

Charles River Plaza North is located at 185 Cambridge Street within the larger 630,000-square-foot Charles River Plaza mixed-use development adjacent to the campus of MGH in Boston’s Beacon Hill neighborhood. This location is across the Charles River from the Massachusetts Institute of Technology and Harvard University and is convenient to mass transit with an MBTA red line station about three blocks away. Completed by the current ownership in 2005, Charles River Plaza North is leased in its entirety to The General Hospital Corporation, the parent of MGH and subsidiary of Partners Healthcare System. Additional tenants within the development include Whole Foods, CVS and the Schepens Eye Institute. Charles River Plaza North is used as a lab/research facility with five distinct research teams each occupying a floor of the building – the Center for Systems Biology, the Center for Regenerative Medicine, the Center for Computational and Integrative Biology, the Wellman Center for Photomedicine and the Center for Human Genetic Research.

June 2015
Marcus Partners Announces Sale of 6 Armstrong Road in Shelton, CT
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Shelton, CT - Marcus Partners is pleased to announce that Marcus Capital Partners Fund I, L.P. has completed the sale of 6 Armstrong Road in Shelton, Connecticut. Marcus Partners purchased the 175,000 SF office property in 2012.

June 2015
Marcus Partners Announces Sale of Eagles Landing in Stockbridge, GA
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Stockbridge, GA - Marcus Partners is pleased to announce that Marcus Capital Partners Fund I, L.P. has completed the sale of Eagles Landing in Stockbridge, GA. Marcus Partners purchased the 80,681 SF medical office property in 2011.

June 2015
Marcus Partners Purchases Park Plaza II in Rockville, MD
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Rockville, MD - Marcus Partners announced today the acquisition of Park Plaza II (Rockville, MD), through its most recent fund, Marcus Capital Partners Fund II, L.P.

Located at 2099 Gaither Road, Park Plaza II is just a short drive to the Shady Grove Metro Station and offers direct access to both I-270 and Rt. 355. It is also in close proximity to many restaurants and banks and within a mile of three major shopping centers, Falls Grove, Washingtonian Center and King Farm Village Center.

Built in 2001, Park Plaza II is a 6-story Class A office building ideally situated within a highly accessible, amenity-rich office park. It boasts high-end finishes, an above-market parking ratio, and modern architectural details. Featuring roof decks off the top two floors, a fitness center and covered parking garage, the property offers one of the largest contiguous blocks of Class A office space currently available in the North Rockville market.

June 2015
Marcus Partners Purchases Waterview Plaza in Parsippany, NJ
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NORWALK, CT - Marcus Partners announced today the acquisition of Waterview Plaza (2001 Route 46 East) in Parsippany, NJ as the company’s second investment in its newest fund, Marcus Capital Partners Fund II, L.P. Through its two funds, Marcus Partners now owns approximately 800,000 square feet of commercial real estate in New Jersey.

The property, containing 130,000 square feet of office space, is the only office property in Parsippany to offer magnificent views of the picturesque 775-acre Boonton Reservoir.

Marcus Partners will be immediately commencing a $2.6 million capital improvement program at Waterview Plaza in order to visually and functionally transform it into a boutique Class A property. The program will encompass the creation of a high end café and complete renovations of lobbies, interior and exterior entryways, parking areas, landscaping, restrooms, common area corridors, and HVAC systems.

“We look forward to creating an outstanding, fully renovated, and amenity-rich building in this wonderful location. I have never seen views of this quality anywhere else in Parsippany, and if real estate is about location, then this property is as good as it gets” said David Fiore, who leads Marcus Partners’ New York Metro office.

The property is further differentiated by its flexible floor plates that offer small and mid-size tenants a variety of efficient design options, rarely available in the local office market in such a high quality property.

Waterview Plaza is located on U.S. Route 46 and is immediately adjacent to the intersection of I‐287 and I‐80 in Parsippany, NJ, two of northern New Jersey’s most important commuter roadways. Parsippany is part of Morris County, which is known for its central location and ease of access from the surrounding regions. The county‘s central location and transportation network has played an important role in its growth and development and the area is recognized as a leading location for businesses within New Jersey.

The seller of the property was represented by David Bernhaut, Andy Merin, Andy Schwartz, and Nick Karali of Cushman & Wakefield. Marcus Partners has retained Bill Brown, a 30 year market veteran, and Jason Tenenbaum of Cushman & Wakefield as its leasing team.

June 2015
UBS Financial Services Signs Full-Floor Lease at 8 Wright Street in Westport, CT
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NORWALK, CT - Marcus Partners a value-oriented real estate investor, announced today that UBS Financial Services, Inc. has signed a full-floor, 19,217-square-foot lease for 10 years at 8 Wright Street, a property owned by an affiliate of Marcus Capital Partners Fund II, L.P.

Since acquiring 8 and 10 Wright Street in October of 2014, Marcus Partners has commenced a $5 million transformative renovation program at the property. The centerpiece of the program is the installation of new floor-to-ceiling windows, which offer sweeping views of the Saugatuck River and historic Westport Center.

The property’s lobbies, restrooms, elevators, landscape, paving, entrances, signage, parking decks, and mechanical systems are undergoing significant improvements as part of the program.

“We are excited to offer our employees and clients this well-located and newly created space at 8 Wright Street,” said Frank Minerva. “We were attracted to Wright Street by its high quality, convenient location, institutional ownership, and unparalleled views.”

David Fiore, who leads Marcus Partners’ NYC Metro office in Norwalk, CT, said, “We look forward to welcoming UBS to 8 Wright Street in 2016. This lease recognizes the transformative repositioning program currently under way at 8 and 10 Wright Street and affirms its place as an excellent, best-in-class property.”

8 Wright Street and the adjacent 10 Wright Street jointly contain 84,000 square feet of office space and now have 18,300 square feet remaining available for lease. The property’s immediate neighborhood is thriving with coffee shops, restaurants, and bars, while Westport Center boasts one of the most sought after Main Street addresses in America and is home to many national and local retailers as well as a thriving arts and literary community.

Marcus Partners is one of the largest owners and managers of real estate in the Fairfield County market. It owns, manages, or owns and manages more than three million square feet of commercial space out of its New York Metro office in Norwalk, CT, and approximately five million square feet of commercial space overall along the East Coast.

Marcus Partners was represented in the transaction by Adam Klimek, Senior Director at Cushman & Wakefield. UBS Financial Services was represented by Steve Baker, Executive Director at Cushman & Wakefield.

April 2015
Marcus Partners Announces Sale of 111 Speen Street in Framingham, MA
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BOSTON, MA - Marcus Partners is pleased to announce that Marcus Capital Partners Fund I, L.P. has completed the sale of 111 Speen Street in Framingham, Massachusetts. 111 Speen Street sits on the Massachusetts Turnpike directly at the Route 30 exit, one of suburban Boston’s most highly regarded sub-markets. Marcus Partners purchased the 115,000 SF office property in June of 2013.

March 2015
FRANK WUEST JOINS MARCUS PARTNERS
Commercial Real Estate Veteran Named Principal

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BOSTON, MA - Marcus Partners, a value-oriented real estate investor, operator and redeveloper, today announced that Frank Wuest will join the firm as a Principal with a focus on acquisitions and redevelopment.

“I am delighted to have Frank join our senior investment and management team,” said Paul Marcus, Chief Executive Officer of Marcus Partners. “His knowledge of many different product types and his skill set in acquisitions, development, redevelopment, and management further enhance our company’s ability to deliver strong returns and create value for our investors.”

During his career, Mr. Wuest has been responsible for the acquisition, development, sale or financing of more than $8 billion of real estate, including office, industrial, residential, retail and mixed-use properties.

“I have known and respected Paul for over 20 years, and Marcus Partners has a superb reputation as one of the best value-oriented investors and operators in the market with an excellent team of professionals,” said Mr. Wuest. “I look forward to partnering with Paul, Kyle O’Connor, Bill McAvoy and the other members of this outstanding team to build on their significant past success, enhance the Marcus Partners platform and help drive performance on behalf of our investors. With the growth of the firm and the recent close of the $250 million Marcus Capital Partners Fund II, it is an exciting time to join the company.”

Mr. Wuest joins Marcus Partners from Forest City Enterprises, a national real estate company, where he was President of the company’s Boston office and its Science & Technology Group and served on the company’s Executive and Investment Committees.

In addition, Mr. Wuest oversaw Forest City’s strategic use of private equity capital across its business lines in recent years, helping the company raise and deploy over $1.2 billion from domestic and foreign investors. Prior to joining Forest City in 2004, Mr. Wuest was a longtime principal with AEW Capital Management and Copley Real Estate Advisors, where he had extensive experience in acquisitions, development, asset management and investment sales.

Mr. Wuest earned a B.S. in accounting from the University of Connecticut, an MBA from Harvard Business School and his CPA license while working at PricewaterhouseCoopers early in his career. Mr. Wuest serves as the Vice Chair of the Advisory Board of the Boston District Council of the Urban Land Institute (ULI) and is on the Board of Directors of the Massachusetts Chapter of the Commercial Real Estate Development Association (NAIOP), where he is also a member of its national Research Foundation and Industry Trends Task Force.

He was the founding Chair of NAIOP’s national Capital Markets Forum and a former member of its national Executive Committee and Board of Directors. He serves on the Executive Committee and Board of Directors of Boston’s A Better City and the International Advisory Board of the Harvard Real Estate Initiative.

March 2015
Marcus Partners Announces Sale of West Avenue Portfolio in Norwalk, CT
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BOSTON, MA - Marcus Partners, is pleased to announce that Marcus Capital Partners Fund I, L.P. has completed the sale of the remaining property in its 3-building West Avenue Portfolio in Norwalk, CT. The Fund acquired the 73,086 SF mixed use property in a venture with Seligson Properties in June of 2011 and sold the first two buildings in January of 2014.

October 2014
Marcus Partners Holds Final Closing of Fund II
Firm’s Second Real Estate Fund Raises $250 Million

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BOSTON, MA - Marcus Partners, a value-oriented real estate investor, operator and redeveloper based in Boston, MA, today announced the final closing of its second real estate investment fund, Marcus Capital Partners Fund II (Fund II), with $250 million in capital commitments.

Fund II received capital commitments from a variety of large institutional investors, including a public pension plan, university endowments, and foundations as well as family offices and many investors who have invested with the team for nearly two decades. “We are grateful for the confidence that our investors place in us to prudently invest their capital,” said Paul Marcus, Chief Executive Officer of Marcus Partners.

Consistent with its investment strategy for its Fund I, Marcus Partners will invest Fund II into a portfolio of office, medical office, biomedical, and light industrial properties primarily in major suburban East Coast markets where the firm has extensive experience. Fund II will take full advantage of the skills and experience of the Marcus Partners team to acquire assets with overlooked intrinsic value that can be unlocked through utilizing creative approaches to reposition or redevelop the assets.

Earlier this month, Marcus Partners announced the acquisition of 8 and 10 Wright Street, an office complex in Westport, CT, as the first investment in Fund II. Plans include a $4 million comprehensive renovation to transform the property into best-in-class office space. Together, the buildings contain approximately 84,000 square feet of office space uniquely located with sweeping views over the Saugatuck River and historic Westport Center.

October 2014
Marcus Partners Purchases 8 and 10 Wright Street in Westport, CT
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NORWALK, CT - Marcus Partners today announced the acquisition of 8 and 10 Wright Street office buildings as the company’s first investment in its newest fund, Marcus Capital Partners Fund II.

The buildings, containing 84,000 sf of office space, are uniquely located in Westport with sweeping views over the Saugatuck River and historic Westport Center. The immediate neighborhood is thriving with coffee shops, restaurants, bars, the Westport Arts Center, and antique shops.

Westport Center, which is a short walk away, boasts one of the most sought after Main Street addresses in America, including national and local retailers and a thriving arts and literary community.

“We see 8 and 10 Wright Street as being a classic situation where the existing property is substantially underutilizing its special place within a community,” said David Fiore, principal in charge of Marcus Partners’ Metro New York office in Norwalk, CT.

As such, Marcus Partners plans a comprehensive renovation to 8 and 10 Wright Street, investing about $4 million to transform it into a best-in-class property by providing new, enlarged windows, from just above the floor to ceiling, to take full advantage of the panoramic views, and redesigning and upgrading the landscaping, parking decks, lighting, paving, entrances, and signage on the site. Also being upgraded are the lobbies, elevators, restrooms and mechanical systems in the buildings.

“When the transformation is complete, we expect 8 and 10 Wright Street will set the standard for excellence in office properties within the Westport community.” Fiore said.

Marcus Partners is one of the largest owners and managers of real estate in the Fairfield County market. It owns, manages, or owns and manages more than three million square feet of commercial space out of its New York Metro office in Norwalk, CT, and more than five million square feet of commercial space overall along the East Coast.

“We have invested in this thriving part of the country for more than 20 years, and we look forward to further investments in the near future as we progress with our new Fund II,” said Paul Marcus, Chief Executive Officer of Marcus Partners.

Marcus Partners will continue to actively grow its commercial real estate portfolio through its Fund II with value-add acquisitions of office, bio-medical, medical office, research and development, and industrial space in East Coast markets such as Metro Boston, suburban New York City (including Connecticut, New Jersey, and New York), Metro Washington, D.C., and other select East Coast markets.

H. Gary Gabriel led Cushman & Wakefield’s acquisition efforts for Marcus Partners. The team included Tom O’Leary, David Bernhaut, and Andy Merin. Steve Baker, Adam Klimek and Tom O’Leary of Cushman & Wakefield will oversee leasing and marketing efforts at 8 and 10 Wright Street for Marcus Partners going forward.

“The sale process for 8 and 10 Wright Street was extremely competitive,” said Gabriel. “Marcus Partners distinguished itself through its performance and entrepreneurial approach to the transaction. Given the firm’s entrepreneurial culture and ability to make quick decisions, 8 and 10 Wright Street will benefit greatly under Marcus Partners ownership.”

August 2014
Marcus Partners and Prudential Real Estate Investors Acquire 500 Plaza Drive in Secaucus
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Marcus Partners, in a venture with Prudential Real Estate Investors, announced today the acquisition of 500 Plaza Drive, a Class A, 450,000 square foot office tower located in Secaucus, N.J. With the addition of 500 Plaza Drive, its final acquisition for Marcus Capital Partners Fund I, L.P., Marcus Partners now owns and manages 650,000 square feet of commercial real estate investments in New Jersey and over 5.5 million square feet along the East Coast. Marcus Partners will continue to actively grow its commercial real estate portfolio through value add acquisitions of office, bio-medical, medical office, R&D and industrial space in East Coast markets such as Metro Boston, suburban New York City (CT, NJ, NY), Metro Washington, D.C., and other select East Coast markets.

“500 Plaza is a transportation-oriented ‘Urban/Suburban’ property directly connected to Midtown Manhattan via both bus and rail services provided by NJ Transit, which makes it attractive to companies looking for close ties to Manhattan with the conveniences and lower costs of a suburban setting. 500 Plaza is unique in that it is also set in a somewhat urban environment that has 9 hotels, over 25 restaurants and cafes, retail stores and entertainment, all at its doorstep in Harmon Meadows.” said David Fiore, Director of Marcus Partners’ Metro New York office. “We are very pleased to partner with Prudential Real Estate Investors on this unique opportunity and look forward to being able to offer tenants a truly exceptional headquarters quality property.”

Marcus Partners has immediate plans to significantly improve the office tower to transform it into a prime amenity-rich office environment. Marcus Partners will rebrand the property to match the high standards they have set with other corporate headquarters facilities they own throughout the Tri-State Area by immediately commencing upon a $15 million property upgrade program to create a Best in Class headquarters quality office building in the Meadowlands market. Property upgrades include a comprehensive renovation of the lobby area and the creation of an amenity package that includes a new conference center, a new fitness center, and a new full service café. Plans also include construction of a new 250 space parking structure plus 30 new visitor parking spaces in front of the building. They look forward to welcoming another prestigious company onto the building’s prominent tenant roster, which includes several notable firms including The Children’s Place (headquarters) and AXA Financial.

500 Plaza offers a number of unique features for tenants, including a four-story atrium lobby and immediate access to public transportation, which is located adjacent to the property, 17 minutes from Midtown Manhattan. The top three floors of 500 Plaza Drive (approximately 90,000 square feet) featuring remarkable views of the Manhattan skyline are available for lease.

The building is located within the 4 million square foot Harmon Meadow mixed-use community at the intersection of Route 3 and Route 95 and has a regular shuttle service to the nearby Secaucus Junction Train Station.

CBRE’s team of Geoff Schubert (Senior Vice President), Brian Godau (Vice President), and Todd Ward (Associate) will oversee leasing and all marketing efforts on behalf of the new ownership. “We’re excited to have the opportunity to team up with Marcus Partners and PREI® on this exciting acquisition” said Schubert. “Acquiring 500 Plaza Drive, with its key location and ample amenities, will accelerate the Marcus Partners’ growth in this region on a very positive note. Our CBRE team is well-prepared to support the owners through marketing and leasing efforts at the property.”

About Marcus Partners
Marcus Partners is a value-oriented real estate investor, operator and redeveloper based in Boston, Massachusetts, with a regional office in Connecticut. The firm invests in real estate and related assets through its fully discretionary $250 million Marcus Capital Partners Fund II, L.P., pursuing a mix of strategic and opportunistic investment strategies. It currently owns/manages a diversified portfolio that includes more than 5 million square feet of office, medical office, R & D, warehouse and industrial properties located along the East Coast. For more information about Marcus Partners, please visit www.marcuspartners.com.

About PREI
PREI is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., the company also has offices in Atlanta, Chicago, Miami, New York, San Francisco, Frankfurt, Lisbon, London, Luxembourg, Munich, Paris, Abu Dhabi, Mexico City, Hong Kong, Seoul, Singapore, Sydney and Tokyo. The company also has a representative presence in Rio de Janeiro. PREI had gross assets under management of USD $55.8 billion ($41.8 billion net), as of March 31, 2014. For more information, visit http://www.prei.com.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

March 2014
Marcus Partners Announces Sale of 225 Second Avenue in Waltham, MA
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Marcus Partners is pleased to announce that Marcus Capital Partners Fund I has completed the sale of 225 Second Avenue in Waltham, Massachusetts. 225 Second Avenue sits in the central Route 128 market, one of suburban Boston’s most highly regarded sub-markets. Marcus Partners affiliates own 1.2 million SF (100% leased) at the same interchange of Route 128. Marcus Partners purchased the 119,000 SF office/biomedical property in December 2012.

March 2014
Steve Wassersug Joins Marcus Partners
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Marcus Partners is pleased to announce that Steve Wassersug will be joining its team as a Senior Vice President of Construction and Development effective March 31, 2014.

Steve’s primary responsibilities will include design and construction management on all new and existing projects. He will also be assisting the acquisitions process, participating in due diligence activities and working with asset management through the life cycle of each investment.

Steve joins Marcus Partners after spending the past 15 years with Jones Lang LaSalle (formerly Spaulding & Slye). He started with his former employer as a Project Manager and during that tenure his role grew to Managing Director of the New England Construction Company where he was responsible for the day to day operations of that $100M Construction Management firm.

Prior to joining Spaulding & Slye, Steve was a Senior Structural Engineer with Parsons Corporation where he designed industrial facilities, power plants and corporate offices. He also spent several years as the lead field engineer on the construction of a $500M cogeneration plant in Brooklyn, NY.

Steve received his Bachelor of Science in Civil Engineering – Structural from University of Massachusetts, Dartmouth.

November 2013
Marcus Partners Announces Sale of Imperial Avenue Investment in Westport, CT
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Marcus Partners is pleased to announce that Marcus Capital Partners Fund I has fully exited its 8,000 SF, 3-building medical office investment on Imperial Avenue in Westport, Connecticut. The properties were acquired in September 2010.

June 2013
Marcus Partners Announces Acquisition of 111 Speen Street, Framingham, MA - 115,000 sf, Class A Office Building
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Purchase marks firm’s fourth Northeast acquisition in the past 6 months.

Marcus Partners is pleased to announce the acquisition of 111 Speen Street, a 115,000 square foot Class A office building in Framingham, MA, on behalf of Marcus Capital Partners Fund I. This purchase marks the fund’s fourth acquisition in the Northeast over the past six months totaling 500,000 square feet of office, laboratory and medical office space with a total projected cost in excess of $100 million. At 111 Speen Street, Marcus Partners will execute a capital improvement program to modernize and transform the common areas and amenity space. The planned upgrades will further enhance the property’s premier standing in the market.

According to Bill McAvoy, Chief Investment Officer of Marcus Partners, “We were attracted to 111 Speen Street because it is one of the highest quality properties in the Natick/Framingham submarket and features many above-standard design elements. Its location, immediately at the Speen Street exit off the Massachusetts Turnpike, provides significant visibility and best-in-market access. It is a well positioned property that we are buying well below replacement cost. With modernized common areas, the property will continue to outperform over the long term in what is a strengthening market.”

Paul Marcus, Managing Principal of Marcus Partners, added “This acquisition fits in well with our disciplined investment strategy of acquiring quality, well-located assets at a reasonable basis that offer a value-add opportunity.” Marcus added “We have been able to acquire some fantastic buildings, over 500,000 square feet, in the Northeast over the past six months. We continue to seek additional value add real estate related investment opportunities throughout the East Coast.”

Marcus Partners has been actively growing through various acquisitions along the East Coast of office, bio-medical, medical office, R&D and industrial space in the Boston, Suburban NYC, Washington DC, Miami and Atlanta markets. This transaction brings Marcus Partners portfolio of properties currently owned or managed by its affiliates to 6.6 million square feet.

May 2013
Marcus Partners Announces Acquisition of 8 King Road, a 200,000 sf Diagnostic Laboratory Facility in Rockleigh, New Jersey
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Marcus Partners is pleased to announce the acquisition of 8 King Road, a two-building 200,000 square foot diagnostic laboratory and office property located in Rockleigh, NJ, on behalf of MCP 8 King Road LLC. Marcus Partners will execute a $30 million capital improvement program on behalf of the existing tenant, Spectra East, Inc., to upgrade all building infrastructure and restack and expand Spectra into the entire facility under a new long term lease arrangement.

“Due to our existing long term relationship with Marcus Partners and their investment and development expertise, we felt it prudent to partner with them to work through the process,” said Nick Brownlee, President of Spectra East. “We look forward to working with them to expand 8 King into a best in class facility.”

Upgrades to 8 King Road will include new Class A finishes to the lobbies and common areas, laboratory and warehouse expansion, façade enhancements, roof replacement, HVAC and backup power generator replacements, and site and parking lot improvements. Marcus Partners has taken over the management of the property and will provide development and construction management services during all phases of the renovation project.

David Fiore, Principal of Marcus Partners, said, “This acquisition fits in well with our investment strategy of purchasing good quality, well located commercial real estate at a reasonable basis, and with an opportunity to add value.” Mr. Fiore added, “We continue to seek commercial investment opportunities, including fee simple acquisitions, ownership restructurings and note purchases, in office, medical, biomedical, R&D and industrial assets throughout the East Coast markets and specifically in the Connecticut, Northern New Jersey, Westchester and Long Island markets, as we look to expand our Tri-State asset portfolio. This acquisition has the added benefit of being our first major foray into the Northern New Jersey market – a market presence we wish to expand further over the next few years.”

8 King Road is conveniently located in the Rockleigh Corporate Park, ½-mile west of the Palisades Parkway, and 4 miles south of the Tappan Zee Bridge, and is highly accessible to an abundant, technically skilled microbiological, chemical and diagnostic laboratory workforce.

Marcus Partners has been actively growing through various types of acquisitions along the East Coast over the past 24 months, with 13 transactions in the Boston, Miami, Atlanta, Washington, D.C. and Suburban NYC markets totaling over 1.8 million square feet of office, bio-medical, medical office, R&D, and industrial space. This transaction brings Marcus Partners’ portfolio of properties owned and managed by its affiliates to 5.3 million square feet.

March 2013
Marcus Partners Announces Acquisition 40 Cross Street 70,000 sf Class A Medical Office Property Norwalk, Connecticut - A $650,000 capital improvement program to be undertaken.
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Marcus Partners is pleased to announce the acquisition of 40 Cross Street, a 70,000 square foot Class A medical office property located in Norwalk, CT, on behalf of MCP Medical LLC. Marcus Partners will execute a $650,000 capital improvement program to further enhance and add the Marcus Partners brand to one of the leading medical properties in the market. Upgrades to 40 Cross will include new Class A finishes to the lobbies and common areas, new and faster elevators, new granite exterior entrance walkways and curbs, new signage and thoughtfully appointed landscaping. As importantly, the Marcus Partners management team will service the property to its best practices and standards to optimize the tenant and patient experience at 40 Cross.

David Fiore, Principal of Marcus Partners, said, “This acquisition fits in well with our investment strategy of purchasing good quality, well located commercial real estate at a reasonable basis, and with an opportunity to add value.” Mr. Fiore added, “We continue to seek commercial investment opportunities, including fee simple acquisitions, ownership restructurings and note purchases, in office, medical, biomedical, R&D and industrial assets throughout the East Coast markets and specifically in the Connecticut, Northern New Jersey, Westchester and Long Island markets, as we look to expand our Tri-State asset portfolio.”

40 Cross is conveniently located in the heart of Norwalk’s West Avenue medical corridor, directly off Route 7’s exit 1 interchange, and within walking distance to the Norwalk Hospital campus. 40 Cross offers best-in-class medical office and outpatient surgery center space and benefits from direct access to multiple retail, restaurant and banking amenities.

Marcus Partners has been actively growing through various types of acquisitions along the East Coast over the past 24 months, with 12 transactions in the Boston, Miami, Atlanta, Washington, D.C. and Suburban NYC markets totaling over 1.6 million square feet of office, bio-medical, medical office, R&D, and industrial space. This transaction brings Marcus Partners’ portfolio of properties owned and managed by its affiliates to over 5 million square feet.

December 2012
Marcus Partners announces the acquisition of 225 Second Avenue, a 125,000 sf office property in Waltham, MA
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Marcus Partners is pleased to announce the acquisition of 225 Second Avenue, a 125,000 square foot office building in Waltham, MA, on behalf of its Marcus Capital Partners Fund I. Marcus Partners will execute an extensive capital improvement program to reposition the property, which will include upgraded facades, lobbies, common areas, entrances and landscaping.

225 Second Ave is conveniently located directly off exit 27 from route 128 in the heart of Waltham’s commercial district. The property housed offices for ADP who was the property’s former owner and will be staying as a tenant for a short term leaseback. “Several things about this asset attracted us” noted Bill McAvoy, Principal of Marcus Partners. “It’s one of the few single-asset large blocks of space that exist in central 128 capable of accommodating a variety of uses, with a parking ratio that is well above market (4.5 per 1,000 sf), clear heights up to 19 feet, full building back up power, a high window to floor area ratio, full service cafeteria and new roofs and HVAC units. Deb Van Der Hayden of Jones Lang Lasalle (JLL) and Scott Jamieson, formerly of JLL, who managed the transaction for ADP, did a great job in bringing the transaction to completion for their clients.”

Marcus Partners has been actively growing through various acquisitions along the East Coast over the past 18 months with 11 transactions totaling over 3.1 million square feet of office, bio-medical, medical office, R&D and industrial space in the Miami, Atlanta, Washington DC, Suburban NYC and Boston markets. This transaction brings Marcus Partners portfolio of properties owned or managed by its affiliates to 6.9 million square feet.

Paul Marcus, Managing Principal of Marcus Partners, said “This acquisition fits in well with our investment strategy of acquiring assets at a reasonable basis that are well located and offer a real value-add opportunity for a hands-on owner. We already have interest in the asset from both office and lab users, it’s versatile enough to work well for either.” Marcus added “We continue to seek additional value add real estate related investment opportunities throughout East Coast markets with a focus on office, medical office, light industrial, flex, R&D and warehouse properties.

June 2012
Marcus Partners Fund I sells Miami Lakes Research and Industrial Park in Miami Lakes, FL
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The Miami Lakes Research & Industrial Park was recently sold to the Graham Companies for $14.3 million, or $49 per square foot. The bio-medical device company HeartWare currently occupies 45% of the eight-building, 290,529-square-foot campus, which is located at 14400–14560 Northwest 60th Avenue. "The Graham Companies’ inherent ties to the asset and experience with life sciences companies made them the most logical buyer,” said Miguel Alcivar of CBRE’s Private Capital Group. Marcus Partners was represented by Alcivar, Christian Lee, CBRE vice chairman, and Scott O’Donnell, CBRE senior vice president.

The recent sale falls on the heels of a the partial prior sale of 103,471 square feet at the property to a user in August 2011 for $44 per square foot.

May 2012
Marcus Partners Announces Acquisition of 6 Armstrong Road, 175,000 sf Class A Office Property in Shelton, Connecticut
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A $4.5 million capital improvement program to be undertaken.
Marcus Partners is pleased to announce the acquisition of 6 Armstrong Road, a 175,000 square foot class A office property located in Shelton, CT, on behalf of, MCP 6 Armstrong LLC. Marcus Partners will execute a $4.5 million capital improvement program to reposition the property, which will include upgraded lobbies, common areas and furnishings, new and efficient mechanical and control systems, new granite exterior entrance walkways and thoughtfully appointed landscaping, site and parking lot improvements.

6 Armstrong is conveniently located in the heart of Eastern Fairfield County’s commercial district off Route 8 in Armstrong Park and offers high quality office and R&D space with amenities tailored to the Park’s clientele, including walking trails along a 3-acre pond, an interior heated parking garage, a fitness center with locker rooms and showers and a full-service café.

Marcus Partners has been actively growing through various types of acquisitions along the East Coast over the past 18 months with 10 transactions involving 34 buildings in the Miami, Atlanta, Washington DC and Suburban NYC markets totaling over 2.9 million square feet of office, bio-medical, medical office, R&D, and industrial space. This transaction brings Marcus Partners portfolio of properties owned and managed by its affiliates to 6.7 million square feet.

David Fiore, Principal of Marcus Partners, said “We look forward to introducing the Marcus Partners brand to 6 Armstrong and transforming it into our flagship property in Eastern Fairfield County, Connecticut. With swift execution of our capital program, 6 Armstrong will be the high quality value option in the submarket. We fully expect to begin leasing the 80,000 sf of available space in short order.”

“This acquisition fits in well with our investment strategy of executing real estate related transactions that involve recapitalizing existing ownership structures, purchasing notes or fee simple assets of good quality that are well located and offer value-add opportunity with superior infrastructure at a reasonable basis.” Mr. Fiore added. “We continue to seek additional real estate related investment opportunities throughout east Coast markets and specifically in the New York, New Jersey and Connecticut market as we look to expand our tri-state asset portfolio.”

November 2011
Marcus Partners Fund I acquires 88,738 SF Office Park in Sterling, VA
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Marcus Partners is pleased to announce the acquisition of the Countryside Business Park, an 88,738 SF, two building office park located at 10 and 14 Pidgeon Hill Drive in Sterling, VA. The property was acquired from LNR Partners, LLC. Comprised of two class B office buildings, the property is well-located in a successful mixed-use development that enjoys convenient highway access.

Lincoln Property Company will manage the properties on behalf of the fund.

October 2011
Marcus Partners Fund I acquires 80,681 SF Medical Office Park in Stockbridge, GA
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Marcus Partners is pleased to announce the acquisition of the Eagles Landing Medical Office Park in Stockbridge, GA. Marcus, together with local partner Ackerman & Co., purchased a loan secured by Eagles Landing from LNR Partners, LLC. This is the third acquisition this year for Marcus and its local Atlanta partner Ackerman, who also bought the Marietta Medical Center in January and the Corporate Forum in April. The venture acquired the note on the property and plans to convert it to fee ownership in the coming months.

Eagles Landing is a two building medical office park, just off Interstate 75. The two buildings comprise 80,681 square feet and were originally constructed in 2000 and 2004. Occupancy is currently approximately 82%. Ackerman will handle property management and leasing.

June 2011
Marcus Partners Fund I acquires 73,000 SF Mixed Use property in Norwalk, CT
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Marcus Partners is pleased to announce the acquisition of the West Avenue portfolio in Norwalk, CT. Marcus Partners and Seligson Properties, a Norwalk-based real estate developer and operator, have formed a venture to recapitalize three existing buildings located in the heart of Norwalk, Connecticut.

The buildings, addressed as 520, 605 and 698 West Avenue, total more than 73,000 square feet of retail, office, and medical space. Existing tenants include Norwalk Hospital, Scott Spector Eye Care, Connecticut Community Bank, and Lacrosse Unlimited.

The venture has already commenced making substantial capital improvements to the buildings. At 520 West Avenue, Norwalk Hospital has expanded to approximately 22,000sf, and is currently undertaking a considerable interior renovation of the space.

Seligson Properties will continue to manage the properties on behalf of the venture.

May 2011
Mountain Development Corp. and Marcus Partners Form Venture to Acquire and Reposition 297 State Street, in North Haven, Connecticut
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Marcus Partners is pleased to announce that a newly formed venture between NJ based Mountain Development Corp, together with ClearRock Properties, and MA based Marcus Capital Partners Fund I has acquired 297 State Street, a 386,000 square foot light industrial/warehouse facility in North Haven, CT which was formerly owned and occupied by a national printing company.

The property is strategically located in North Haven, CT just off I-91 at exit 10/Route 40. The 386,000 square foot building has interior rail siding, can be subdivided down to 76,000 and offers clear heights of up to 36’. The property will undergo a capital improvement program to bring it up to contemporary standards. The leasing team of Tim Fegan and Matt O’Hare at CB Richard Ellis has been retained to lease the property.

David Fiore, Principal of Marcus Partners, said “We look forward to working with Mountain Development to reposition this asset. This transaction fits in well with our investment strategy of acquiring quality, well located, value-add properties at a reasonable basis. We will continue to seek additional direct and venture investment opportunities in New York, New Jersey and Connecticut markets as we look to expand our New York Metro region or tri-state portfolio.” “We look forward to working with Marcus Partners as our financial partner and are excited to have this asset in our portfolio. We are also looking forward to completing the major capital improvements we have planned for the property and to working with the brokerage community to satisfy their tenant requirements,” said Joseph Coci III, Managing Director of Mountain Development Corp.

Sean Duffy and Damon Bower of Cushman & Wakefield represented the seller while Tim Fegan and Matt O’Hare of CB Richard Ellis represented the Buyer.

May 2011
Clarion Partners Acquires Phelps’ interest, Creates New Venture with Marcus Partners at 1.4MM sf Merritt 7 Corporate Park
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Clarion Partners announced today that, on behalf of one of its pension fund clients, it has acquired the minority interest of its partner of over 15 years, Fairfield Investors, in Merritt 7 Corporate Park, one of the leading office parks in Fairfield County with over 1.4 million square foot, in six building Class A office buildings strategically located at the intersection of the Merritt Parkway and Route 7 in Norwalk, Connecticut. Bert Phelps, the managing principal of Fairfield Investors whose vision resulted in the original development of Merritt 7, announced that he will retire from his position as Chairman of ADP Service Corporation. John Crosby, President, will assume that role and continue to lead the company with a renewed focus on the growth of its construction management business. As a result, Clarion Partners has announced that it has formed a strategic partnership with Marcus Partners which provides in part for a subsidiary of Marcus Partners to assume property management and leasing services at Merritt 7.

Katie Vaz, Vice President of Clarion Partners, who will continue to lead the firm’s Merritt 7 asset management team, noted “Clarion Partners has enjoyed a successful partnership with Mr. Phelps and John Crosby for over 15 years on this premier Fairfield County office asset. We wish Mr. Phelps well and look forward to the prospect of continuing to work with Mr. Crosby on construction related projects going forward. By teaming with Marcus Partners, we are confident we are well-positioned for the future in providing the finest office environment available in the market at Merritt 7.”

“Over the past 10 years, the major growth corridor in Fairfield County has been the Route 7 corridor – a market that Mr. Phelps and Mr. Crosby created with Merritt 7 during the 1970s and 1980s”, noted David Fiore, Principal and head of Marcus Partners’ operations in Connecticut. “The opportunity to partner with Clarion in maintaining and enhancing Merritt 7’s position as one of the premier suburban office parks in Fairfield County is very exciting for the Marcus Partner’s team.”

April 2011
Marcus Partners Fund I acquires 188,100 SF Office Park in Atlanta, GA
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Marcus Partners is pleased to announce the acquisition of the Corporate Forum in Atlanta, GA. Marcus, together with local partner Ackerman & Co., purchased Corporate Forum for $7.2MM from CW Capital. This is the second acquisition this year for Marcus and Ackerman, who also bought the Marietta Medical Center in January.

Corporate Forum is a twelve acre complex of six campus style office buildings on Windy Hill road, just off Interstate 75. The six buildings comprise 188,100 square feet and were originally constructed in 1981. Occupancy currently is approximately 72%. Ackerman will handle property management and leasing. Hunter Amos at State Bank provided acquisition financing. Justin Parsonnet, Will Yowell and Jay O’Meara of CBRE represented the seller and brokered the transaction.

This deal is indicative of the gradual recovery taking place in the office market as lenders are increasingly willing to address problems, foreclose on properties, and take them to market.

February 2011
Marcus Partners Fund I acquires 98,534 SF medical office building in Marietta, GA
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Marcus Partners and Ackerman & Co. are pleased to announce the acquisition of Marietta Medical Center, a 98,534 square foot medical office building in Marietta, Georgia. The property was acquired in a joint venture between Boston based Marcus Capital Partners Fund I, a $250M commingled real estate fund, and Atlanta based Ackerman & Co.

This Class A property consists of a five-story medical office building and an attached structured parking garage strategically located adjacent to WellStar Kennestone Hospital, the second largest hospital in metro Atlanta. “Marietta Medical Center is a good property that has enjoyed high occupancy for most of its life. Although currently 53% occupied, we are confident our local operating expertise and well funded new ownership with capital to fund lease commissions, tenant improvements, and planned renovations will enable us to attract new tenants to fill the vacancy. The medical office market around WellStar Kennestone Hospital is growing rapidly and we are excited to work with Marcus Partners in the execution of our upgrade and re-leasing strategy.” said Kris Miller, President of Ackerman & Co.

Paul Marcus, President of Marcus Partners, said “This transaction fits in perfectly with our investment strategy of acquiring good quality, well located, value-add commercial properties at a discount to replacement cost. We continue to seek additional acquisitions in other key East Coast markets with a similar strategy.”

January 2011
Marcus Partners Fund I acquires 394,000 SF Mixed-Use facility in Miami lakes, FL
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Marcus Partners is pleased to announce the acquisition of a 394,000 square foot mixed use facility in Miami Lakes, Florida which was formerly occupied by Cordis Corporation. The property was acquired in a joint venture between Boston based Marcus Capital Partners Fund I, a $250M commingled fund, and Miami based, The Easton Group.

This mixed use complex includes eleven buildings spread out over 27 acres and houses advanced laboratories, clean rooms, air-conditioned warehouse, office and retail space. The venture is also pleased to announce that Heartware International (NASDAQ; HTWR), a leading manufacturer of a left ventricle heart assist pump and headquartered in Framingham, MA, has signed a ten-year lease for more than 130,000 square feet at the facility. Cordis, a division of Johnson & Johnson, will remain in a portion of the facility for at least a year.

Paul Marcus, President of Marcus Partners, said “This transaction fits in perfectly with our investment strategy of acquiring good quality, well located, value-add commercial properties at a reasonable basis. The deal with the Easton Group illustrates the success we are finding in investing with local operating partners. We expect to be announcing soon at least two more acquisitions in other key East Coast markets with a similar theme: good quality, well located, value-add commercial properties acquired through joint ventures with local partners. Even though we have a reputation as being strong operators, we are seeking to team up with, and strongly value, local operating partners – even in the markets we already have a presence in. We believe this leverages our ability to acquire and turn properties around, enhances our knowledge base, as well as provides a more substantial platform to identify new opportunies.”

April 2010
Verizon Expanding to 200,000 SF in Waltham
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Verizon has signed a 200,000 square foot, 10-year lease at the Reservoir Woods East Campus in Waltham, Mass. The transaction includes extending an existing lease for 140,000 square foot and the build out of an additional 60,000 square feet of new Class A office and lab space, which will become the Verizon Technology Innovation Center.

Construction of the Verizon Technology Innovation Center is slated to begin in the coming months and the new building will be developed to LEED Silver standards of the United States Green Building Council (USGBC).

Andrew Majewski from CB Richard Ellis represented Davis Marcus Partners in the transaction and David Wright and Amy Perlman, also of CB Richard Ellis represented Verizon. Reservoir Woods is owned by a venture between affiliates of Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, in partnership with Prudential Real Estate Investors (PREI) on behalf of institutional investors.

Reservoir Woods East is a 54-acre office/research and development property purchased by Davis Marcus Partners in partnership with Prudential Real Estate Investors in December 2006. Together, Reservoir Woods East and West comprise a 120-acre wooded campus. Centrally located between the Mass Turnpike and Route, 2, Reservoir Woods is surrounded by the corporate headquarters for Raytheon Corporation, the Massachusetts Medical Society, and the North American Discovery Center for Astra Pharmaceuticals..

Dick Lynch, Verizon executive vice president and chief technology officer, said, "Verizon reviewed many market alternatives as we thought about this expansion and decided to increase our presence at Reservoir Woods East due to its excellent location and because we feel comfortable that we will be able to take occupancy of a highly specialized building in a short period of time. The professionals at Davis Marcus Partners have consistently delivered creative solutions to our tenant growth needs and we are pleased to work with them in this venture."

April 2010
Verizon Breaks Ground On Technology Innovation Center In Waltham, Mass. - Fierce Wireless
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Multimillion-Dollar Investment in Verizon Technology Innovation Center Includes New Building, R&D Labs, Executive Briefing Center at Existing Verizon Technology Campus

BASKING RIDGE, N.J., and WALTHAM, Mass., - Verizon broke ground today on its new Technology Innovation Center in Waltham, Mass. The center will be a catalyst for delivering new and innovative devices and services that connect people, places and things, using next-generation wireline and wireless technology.

The Verizon Technology Innovation Center will be the first-of-its-kind collaboration hub for expanding the telecommunications ecosystem by taking advantage of the convergence of new technologies to offer customers powerful new products and services.

The brainchild of Dick Lynch, Verizon executive vice president and chief technology officer, the Verizon Technology Innovation Center is designed to provide a central base for Verizon's advanced technology initiatives. It will house office and lab space for some of the country's leading technologists and scientists as well as a state-of-the-art Executive Briefing Center where partners, consumer electronics companies, innovation collaborators, business executives and public officials can meet to discuss and collaborate on forward-looking technologies such as FiOS and next-generation 4G Long Term Evolution (LTE) wireless technology. Application and advancement of these new technologies will be a key focus.

Together with the Verizon Technology Campus at Waltham - which houses Verizon technical staff focused on end-to-end architecture, design and testing of the Verizon network as well as IT applications development - the Technology Innovation Center will employ a total of more than 300 leading technologists. The additional space will provide the facilities, partner meeting spaces and collaboration areas that are necessary to keep the Waltham campus a world-class center.

Work at the Verizon Technology Innovation Center will include:

  • Planning for the continued integration of Verizon wireline and wireless networks
  • Providing a home base for the development of the first nationwide 4G LTE network in the U.S., now undergoing user trials in the Boston area
  • Expanding support for third parties that are working on new devices and applications for use on Verizon's networks
  • Ongoing testing to ensure continued global network interoperability with other worldwide network companies, including British Telecom, Deutche Telekom, France Telecom, NTT and China Telecom

  • Optimizing and advancing the portion of the Internet provided and maintained by Verizon
  • Maximizing connectivity and performance of Verizon's customers to the Internet
  • Conducting user experience testing and focus groups for products such as FiOS TV and FiOS broadband
  • Developing ideas and applications for the National Science Foundation's Global Environment for Network Innovations (GENI) project for Web 2.0

Verizon's Lynch said, "Verizon is recognized as a global leader in innovation and technology, and the Verizon Technology Innovation Center will allow our world-class scientists and IT professionals to continue to have the leading-edge resources they need to develop the technologies, products and services that can dramatically change the way we live. As a Massachusetts native, I'm extremely pleased to be here shaping Verizon's technology investments and creating Verizon's future technology vision in the Bay State."

The Verizon Technology Innovation Center is scheduled to be completed in early 2011 and will include a 60,000-square-foot, three-story facility located in the Reservoir Woods East Campus off of Winter Street in Waltham. The property is owned by Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, in partnership with Prudential Real Estate Investors (PREI). The new building, designed by noted Boston architect Howard Elkus of Elkus-Manfredi, will be developed to LEED Silver standards of the United States Green Building Council.

When the Verizon Technology Innovation Center is complete, the current 136,000-square-foot Verizon Technology Campus in Waltham will be expanded to a total of 196,000 square feet.

Waltham was selected as the site for the new center because of the company's partnership with local high-tech innovators, including Airvana, Starent (now part of Cisco), Camiant, Acme Packet, NetNumber and Sonus Networks, and because of the site's proximity to other local entrepreneurial tech firms and the wealth of Massachusetts' academic and research institutions.

The Waltham location also supports Verizon's leadership in the Massachusetts IT Collaborative, an organization formed by Gov. Deval Patrick and composed of business, academic and government leaders who are working to create more investment opportunities and jobs in the IT sector in the Bay State.

Greg Bialecki, Massachusetts secretary of housing and economic development, noted, "The Verizon Technology Innovation Center brings a new generation of wireless technology innovation and opportunity here to Massachusetts. This investment is key to supporting the state's constantly growing technology sector, and is a prime example of what is possible here in the Commonwealth."

The site in Waltham also serves as the hub of wireless technology and user trials in the Boston area. Verizon Wireless has been testing its forthcoming 4G LTE network in Boston since August 2009 and is on track to deliver an outstanding wireless data experience to customers in the area, as well as in 25 to 30 other markets, covering roughly 100 million people by the end of this year. Verizon Wireless is currently installing LTE equipment at existing cell sites and switching centers around the U.S. as part of its extensive, ongoing investment in its voice and data network infrastructure.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.

April 2010
Verizon Breaks Ground On Technology Innovation Center In Waltham, Mass - hotcellularphone.com
READ MORE >

Multimillion-Dollar Investment in Verizon Technology Innovation Center Includes New Building, R&D Labs, Executive Briefing Center at Existing Verizon Technology Campus

BASKING RIDGE, N.J., and WALTHAM, Mass., - Verizon broke ground today on its new Technology Innovation Center in Waltham, Mass. The center will be a catalyst for delivering new and innovative devices and services that connect people, places and things, using next-generation wireline and wireless technology.

The Verizon Technology Innovation Center will be the first-of-its-kind collaboration hub for expanding the telecommunications ecosystem by taking advantage of the convergence of new technologies to offer customers powerful new products and services.

The brainchild of Dick Lynch, Verizon executive vice president and chief technology officer, the Verizon Technology Innovation Center is designed to provide a central base for Verizon's advanced technology initiatives. It will house office and lab space for some of the country's leading technologists and scientists as well as a state-of-the-art Executive Briefing Center where partners, consumer electronics companies, innovation collaborators, business executives and public officials can meet to discuss and collaborate on forward-looking technologies such as FiOS and next-generation 4G Long Term Evolution (LTE) wireless technology. Application and advancement of these new technologies will be a key focus.

Together with the Verizon Technology Campus at Waltham - which houses Verizon technical staff focused on end-to-end architecture, design and testing of the Verizon network as well as IT applications development - the Technology Innovation Center will employ a total of more than 300 leading technologists. The additional space will provide the facilities, partner meeting spaces and collaboration areas that are necessary to keep the Waltham campus a world-class center.

Work at the Verizon Technology Innovation Center will include:

  • Planning for the continued integration of Verizon wireline and wireless networks
  • Providing a home base for the development of the first nationwide 4G LTE network in the U.S., now undergoing user trials in the Boston area
  • Expanding support for third parties that are working on new devices and applications for use on Verizon's networks
  • Ongoing testing to ensure continued global network interoperability with other worldwide network companies, including British Telecom, Deutche Telekom, France Telecom, NTT and China Telecom
  • Optimizing and advancing the portion of the Internet provided and maintained by Verizon
  • Maximizing connectivity and performance of Verizon's customers to the Internet
  • Conducting user experience testing and focus groups for products such as FiOS TV and FiOS broadband
  • Developing ideas and applications for the National Science Foundation's Global Environment for Network Innovations (GENI) project for Web 2.0

Verizon's Lynch said, "Verizon is recognized as a global leader in innovation and technology, and the Verizon Technology Innovation Center will allow our world-class scientists and IT professionals to continue to have the leading-edge resources they need to develop the technologies, products and services that can dramatically change the way we live. As a Massachusetts native, I'm extremely pleased to be here shaping Verizon's technology investments and creating Verizon's future technology vision in the Bay State."

The Verizon Technology Innovation Center is scheduled to be completed in early 2011 and will include a 60,000-square-foot, three-story facility located in the Reservoir Woods East Campus off of Winter Street in Waltham. The property is owned by Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, in partnership with Prudential Real Estate Investors (PREI). The new building, designed by noted Boston architect Howard Elkus of Elkus-Manfredi, will be developed to LEED Silver standards of the United States Green Building Council.

When the Verizon Technology Innovation Center is complete, the current 136,000-square-foot Verizon Technology Campus in Waltham will be expanded to a total of 196,000 square feet.

Waltham was selected as the site for the new center because of the company's partnership with local high-tech innovators, including Airvana, Starent (now part of Cisco), Camiant, Acme Packet, NetNumber and Sonus Networks, and because of the site's proximity to other local entrepreneurial tech firms and the wealth of Massachusetts' academic and research institutions.

The Waltham location also supports Verizon's leadership in the Massachusetts IT Collaborative, an organization formed by Gov. Deval Patrick and composed of business, academic and government leaders who are working to create more investment opportunities and jobs in the IT sector in the Bay State.

Greg Bialecki, Massachusetts secretary of housing and economic development, noted, "The Verizon Technology Innovation Center brings a new generation of wireless technology innovation and opportunity here to Massachusetts. This investment is key to supporting the state's constantly growing technology sector, and is a prime example of what is possible here in the Commonwealth."

The site in Waltham also serves as the hub of wireless technology and user trials in the Boston area. Verizon Wireless has been testing its forthcoming 4G LTE network in Boston since August 2009 and is on track to deliver an outstanding wireless data experience to customers in the area, as well as in 25 to 30 other markets, covering roughly 100 million people by the end of this year. Verizon Wireless is currently installing LTE equipment at existing cell sites and switching centers around the U.S. as part of its extensive, ongoing investment in its voice and data network infrastructure.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.

September 2009
Marcus Move
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BOSTON—As Hub-based real estate investment firm Marcus Partners continues to gear up for a national buying spree, founder and namesake Paul Marcus has brought on another seasoned professional, hiring David Keiran as a principal and chief financial officer to oversee the company’s financial activities and manage investor relations. Most recently at the New Boston Fund, where he was an SVP and director of investor relations, Keiran has more than 25 years experience in accounting, client service, finance, portfolio management and taxation matters.

“David’s institutional real estate experience and relationships will complement our management and investment strategy and enhance our ability to provide the highest level of reporting and client service,” Paul Marcus says in a release welcoming Keiran to the firm, which recently raised $210 million of new capital in anticipation of what he terms “a wave of opportunistic properties” that will emerge in the coming years.

Keiran concurs with the notion that deteriorating industry fundamentals “should translate into attractive asset pricing,” and says he looks forward to the new position. Prior to NBF, Keiran was a partner at TA Associates Realty, where his responsibilities included marketing and asset management of commercial and multifamily assets. Other knowledge was gleaned earlier in his career at PriceWaterhouse where he specialized in banking, investments and real estate.

September 2009
Keiran Named Principal/Chief Financial Officer At Marcus Partners
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David Keiran has been hired as a principal and chief financial officer at Marcus Partners, a Boston-based real estate investment firm.

Keiran will oversee the company's financial activities and to manage investor relations.

He has more than 25 years of experience in many facets of real estate investment and management, including accounting, taxation, finance, marketing, client service and asset and portfolio management.

Before joining Marcus Partners, Keiran was senior vice president and director of investor relations for New Boston Fund. Prior to New Boston, Mr. Keiran was a partner at TA Associates Realty.

"We are pleased that David has joined the firm to round out our team of real estate investment professionals," said, Paul Marcus, managing principal. "His institutional real estate experience and relationships will complement our management and investment strategy and enhance our ability to provide the highest level of reporting and client service."

Having recently raised more than $210 million of new investor capital, Marcus Partners is anticipating a wave of opportunistic properties coming to market over the next few years, the company said in a statement.

"Downward pressure on real estate pricing continues to build as the excesses of the past few years are reversed. The caution on the part of buyers, combined with guarded lenders, deteriorating market fundamentals and more assets being brought to market should translate into attractive asset pricing. We realize that we need to be patient and let the markets unfold and are excited about the opportunities that lay ahead," said Keiran.

July 2009
Marcus Partners closes fund, targets D.C.
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Marcus Partners plans to dip into its new $210 million fund to invest in the D.C. area.

The Boston-based real estate investment firm wants to target a mix of properties -- including office, bio-medical, medical office, and light industrial properties -- in metro areas east of the Mississippi River with Marcus Capital Partners Fund I.

Marcus Partners plans to invest $400 million into value-oriented real estate or related assets, shooting for individual deals in the range of $10 million to $130 million.

Institutional investors -- which include pension plans and endowments -- put up the bulk of the capital and smaller contributors include family offices and high-net-worth individuals. The fund took a little less than a year to raise, according to Kyle O’Connor, who will manage the fund and oversee the company’s investment activities in the D.C. and mid-Atlantic region.

“You have to prepare yourself for capital commitments prior to getting to the point where interesting investments come up so that you can take advantage of them when the time is right,” he said. “The formation period precedes the investment period.”

He says the fund is actively pursuing investment opportunities in the D.C. area, with a concentration on office space, and has submitted investment offers in a variety of buildings that have come on the market. He notes that it may take some time before any deals close.

“In the long-term view we do believe in Washington as a marketplace but the investment markets are fairly anemic right now.”

July 2009
Marcus Partners Closes Fund I
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July 2009
Marcus Partners raises $210m for value-added fund
The Boston-based real estate firm expects to formally close the vehicle at the end of the year close to $250m, targeting office, medical office and light industrial in metropolitan areas in the East US.

READ MORE >

Newly-formed Marcus Partners has raised $210 million for its debut private equity real estate fund, and is expected to formally close the vehicle at the end of the year with up to $250 million in commitments.

The Boston-based investment firm has raised the capital from high-net-worth individuals and institutional investors, who have had previous relationships with founder Paul Marcus.

Marcus set up the firm in June 2008 after he split from longtime business partner Jonathan Davis. The pair had run development company Davis Marcus for around 15 years.

Several former Davis Marcus executives were hired by Marcus. Former AEW Capital director Kyle O’Connor also joined the firm recently as principal to manage Marcus Capital Partners Fund I and have responsibility for investments in Washington DC and the mid-Atlantic region.

He told PERE the firm was in no rush to deploy the capital saying: “It’s fairly early in the down-leg of the cycle but every day we are starting to see more and more interesting opportunities.”

The seven-year, closed-ended fund is aiming for IRRs in the upper-teens, he added, employing a value-added strategy targeting office, medical office and light industrial properties and debt in metropolitan cities in the East of the US. He added that strategy classifications were “blurred” in today’s environment, and that Marcus Partners could do a mix of core and opportunistic-style investing. “In this market flexibility is needed,” he said.

July 2009
Marcus Partners Closes Fund I
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Real estate investment firm Marcus Partners has closed Marcus Capital Partners Fund I, which will pursue diversified investments, including office, biomedical, medical office, and light industrial properties. The fund’s geographical focus will be on major metropolitan areas east of the Mississippi River.

Marcus Partners closed $210 million of capital commitments and is actively looking to invest $400 million in value-oriented real estate assets. Most investors are institutions and family offices, as well as high-net-worth individuals.

It will invest $10 - $130 million in each deal, with a focus on buying assets at discounts, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, purchasing distressed debt and investing in select capital-constrained situations.

The news comes after the recent hire of Kyle O’Connor, who will manage Fund I and oversee the investment activities in the Washington, D.C. market and the Mid-Atlantic region. O’Connor comes aboard as a principal, after having served as Metzler North America and AEW Capital Management.

July 2009
$250M Fund Aims East of the Mississippi
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BOSTON-Locally based Marcus Partners is closing its Marcus Capital Partners Fund I, which is focusing on office, bio-medical, medical office and light industrial properties in major cities "primarily east of the Mississippi River," states a release. The fund is currently at $210 million.

The assets being targeted will range from $10 million to $130 million. The fund will invest roughly $400 million dollars as they work out deals with roughly 50% debt, Paul Marcus, president of Marcus Partners tells GlobeSt.com. "We're looking at everything from distressed to just straight up purchases," he explains. "I think the fund will end up being probably about 60% to 70% C interests of either preferred equity or just direct fee ownership interests. And another 30% will be more debt related or 'special situations'."

The fund will seek properties west of the Mississippi under certain conditions, noting it would have to be "a larger transaction that would include assets on both sides" of the river, Marcus says. "We would look at anything from cash-flowing real estate in a partnership-type transaction in a preferred equity structure, which is a lot of stuff that we're talking about now, to buying the assets and turning them around."

Although this is a possibility, the fund has a time-frame of five to seven years, holding onto the majority of the property for four to seven years. "We think we're still early in this cycle," Marcus says. "and we believe there will be an enormous amount of opportunities becoming available over the next six to 24 months."

July 2009
With $210M Fund, Marcus Capital is Latest Firm to Seek Investment Bargains
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Looking to take advantage of the current bargains to be had in the investment market, Boston-based real estate investment firm Marcus Partners has closed Marcus Capital Partners Fund I with $210 million in capital commitments. The fund will cast a wide net, pursuing diversified investments including office, bio-medical, medical office and light industrial properties.

The fund will be focused on major metropolitan areas primarily east of the Mississippi River. Leveraging the existing capital commitments, the fund is looking to invest $400 million into value-oriented real estate or related assets.

The fund’s target individual deal size ranges from $10 million to $130 million. It will focus its efforts on acquiring assets at discounts to replacement cost and normalized value, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, acquiring distressed debt and investing in select capital-constrained situations. Marcus Partners investors are primarily institutions, family offices, as well as high-net-worth individuals.

Marcus Partners joins a spate of other investment funds closing in recent months looking to capitalize on lower pricing in the investment market. On June 30, CPN reported that the Blackstone Group completed the final closing of Blackstone Real Estate Partners Europe III, with a total of approximately $4.3 billion in equity capital commitments.

And in late April, private real estate investment firm Rockwood Capital L.L.C. closed an investment fund with some $964 million in capital commitments. The value-added fund, dubbed Rockwood Capital Real Estate Partners Fund VIII, plans to invest primarily in hotel, retail, office and residential properties in the United States.

Earlier in the spring, CPN reported that apartment complex developer AvalonBay Communities Inc. closed a $400 million investment fund, $125 million of which was funded by the firm itself, with the remainder coming from institutional investors. With leverage, the fund can make up to about $1.1 billion in investments, most of which will be on properties in high barrier-to-entry markets in the Northeast, mid-Atlantic, Midwest and West Coast, the firm said. And on April 9, CPN reported that Wrightwood Capital closed a $243 million fund. The company's High Yield Partners II Fund will be invested in recapitalizations, acquisitions and selected new development projects.

Marcus Partners hired Kyle O’Connor to manage Fund I, as well as to oversee the company’s investment activities in the Washington, D.C., market and the Mid-Atlantic region. O’Connor joined the company as a principal.

July 2009
Marcus Partners Closes Fund, Hires Manager
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Boston-based real estate investment company Marcus Partners recently closed the Marcus Capital Partners Fund I and added Kyle O'Connor to the firm to manage the fund.

Marcus Partners has closed $210 million of capital commitments and is actively looking to invest $400 million into value-oriented real estate or related assets. The company said it targets individual deal size ranges from $10 million to $130 million. It will focus its efforts on acquiring assets at discounts to replacement cost and normalized value, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, acquiring distressed debt and investing in select capital-constrained situations.

The fund will be used to pursue a diversified list of investments east of the Mississippi River. Marcus Partners investors are primarily institutions, family offices, as well as high-net-worth individuals.

"We are humbled and mindful of the confidence and trust that our investors have placed in us which enabled us to raise capital during these difficult market conditions," said Paul R. Marcus, managing principal of Marcus Partners. "Over the past 25 years we have developed meaningful and trusting relationships with investors and are excited about the investment opportunities that we are starting to see on the horizon. While remaining cautiously optimistic, we look forward to placing the fund's equity into investments that are both profitable and strategic in order to deliver significant returns for our investors."

The company recently hired Kyle O'Connor to manage Fund I, as well as to oversee the company's investment activities in the Washington D.C. market and the Mid-Atlantic region. O'Connor is joining the company as a principal, adding to a team of principals that includes industry veterans William McAvoy, who oversees the Boston region; David Fiore, who directs the Connecticut and New York region; and J. Mark Stroud, who oversees the Southeast region.

O'Connor brings more than 17 years of real estate investment experience to Marcus Partners, including the acquisition of approximately $4 billion in assets on behalf of both commingled funds and separate account clients. He previously worked at Metzler North America and AEW Capital Management.

July 2009
Has Money, Will Spend
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There’s a new buyer in town: Marcus Partners, a Boston-based real estate investment firm, has closed its first fund and wants to invest between 20% to 40% of it in DC real estate. Fund manager Kyle O’Connor tells us it has $210M of equity: that’s $400M in purchasing power. Marcus recently bid, unsuccessfully, on a few DC offices, one of which just traded. “We view the DC market as being one of the more stable and interesting in the nation.” Right now, though, the pickings are slim, with deal flow “anemic”, Kyle says. “We expect that to change.”

July 2009
Marcus Partners Announces Closing of Marcus Capital Partners Fund I
Kyle O’Connor tapped to manage fund, adds experience to veteran team

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Marcus Partners, a Boston-based real estate investment firm, announced today that the company has closed Marcus Capital Partners Fund I. Fund I will pursue diversified investments, including office, bio-medical, medical office, and light industrial properties, and will be focused on major metropolitan areas east primarily of the Mississippi River.

Marcus Partners has closed $210 million of capital commitments and is actively looking to invest $400 million into value-oriented real estate or related assets. The company’s target individual deal size ranges from $10 million to $130 million. It will focus its efforts on acquiring assets at discounts to replacement cost and normalized value, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, acquiring distressed debt and investing in select capital-constrained situations. Marcus Partners investors are primarily institutions, family offices, as well as high-net-worth individuals.

“We are humbled and mindful of the confidence and trust that our investors have placed in us which enabled us to raise capital during these difficult market conditions,” said Paul R. Marcus, Managing Principal of Marcus Partners. “Over the past 25 years we have developed meaningful and trusting relationships with investors and are excited about the investment opportunities that we are starting to see on the horizon. While remaining cautiously optimistic, we look forward to placing the fund’s equity into investments that are both profitable and strategic in order to deliver significant returns for our investors.”

The company also announced that it recently hired Kyle O’Connor to manage Fund I, as well as to oversee the company’s investment activities in the Washington, D.C. market and the Mid-Atlantic region. Mr. O’Connor is joining the company as a principal, adding to a team of principals that includes industry veterans William McAvoy, who oversees the Boston region; David Fiore, who directs the Connecticut and New York region; and J. Mark Stroud, who oversees the Southeast region.

Kyle O’Connor brings more than 17 years of real estate investment experience to Marcus Partners, including the acquisition of approximately $4 billion in assets on behalf of both commingled funds and separate account clients. He previously worked at Metzler North America and AEW Capital Management.

“We are thrilled that Kyle has joined and rounded out our experienced team,” Marcus said. “His experience and relationships will allow for a well positioned and seamless entry into this new investment market for us.”