Improvements Focused on Amenitization and Rebranding of Class A Campus
April 22, 2019 – Philadelphia – Rubenstein Partners, L.P., (including its affiliates, “Rubenstein”), a vertically-integrated real estate investment advisor focused on value-added office property opportunities, announced plans to reposition and improve what is considered the preeminent Class A office park in Bucks County, PA. In addition to rebranding the property Makefield Crossing (formerly Lower Makefield Corporate Center), Rubenstein is aiming to completely overhaul both the North and South campuses with market-leading amenities and best-in-class common area upgrades.
“We believe that Makefield Crossing will become an even more compelling office destination following our planned improvements,” said Lou Merlini, Vice President of Asset Management at Rubenstein. “These properties have always been among the most attractive in the local submarket, and with our strategic application of capital creating a true sense of place on each campus, Makefield Crossing will be an unmatched home for employers to attract and retain the top talent in the region.”
Located within the Bucks County office submarket and conveniently located directly off Route 332 and adjacent to I-295, Makefield Crossing is a 20-minute drive to downtown Princeton, 40-minute drive to Center City Philadelphia, and a 15-minute drive to the Trenton Amtrak train station. Rubenstein acquired the former Lower Makefield Corporate Center North and Lower Makefield Corporate Center South in September 2018, and since then has been formulating plans to improve both campuses under the new Makefield Crossing brand.
Makefield Crossing North consists of five office buildings totaling 190,183 square feet, plus a Hampton Inn hotel that was not included in the acquisition. Rubenstein’s planned upgrades to Makefield Crossing North include replacing the interior parking lot with a large, collaborative greenspace, adding new amenities including a fitness center, conference center, and café/tenant lounge, renovating building common areas including main lobbies, restrooms, and corridors, and replacing signage to reflect the updated property branding.
Makefield Crossing South consists of four office buildings, of which Rubenstein acquired three buildings totaling 276,533 square feet. Rubenstein plans to improve Makefield Crossing South by adding and upgrading amenities including a fitness center, conference center, and full-service café and tenant lounge, replacing a portion of the interior parking lot with a collaborative greenspace connecting the new amenities to a series of waterfront decks, renovation of building common areas including main lobbies, restrooms, corridors, and new signage reflecting the updated property branding.
Rubenstein has engaged JLL to handle leasing for Makefield Crossing, with Executive Vice Presidents Doug Newbert and Mike MacCrory leading the team.
“We are happy to be furthering our relationship with Rubenstein Partners through this assignment, especially on such a desirable suburban project in one of the most sought-after corporate hubs,” said MacCrory. “Makefield Crossing is the top office park in the Lower Bucks office market and we believe the rebranding and improvements will help us add new firms to our impressive tenant roster.”