Philadelphia-based Rubenstein Partners recently announced the launch of a capital improvements program at Makefield Crossing. The campus is located near Interstate 295 and directly off Route 332, offering great access throughout the metro area. It’s a 20-minute drive to downtown Princeton and a 40-minute drive to Center City Philadelphia.
Rubenstein plans to make interior renovations and exterior plaza improvements as a first stage of a larger plan to reposition what the company considers to be the preeminent Class A office park in Bucks County, Pa. The overhaul applies to both the North and South Makefield Crossing campuses, as follows:
- Makefield Crossing North has an interior parking lot that will be replaced with a collaborative greenspace. Additionally, new amenities will be added, including a café and tenant lounge, a fitness center and a conference center. Renovation plans also include updated signage and common area updates to main lobbies, restrooms and corridors. The North campus includes five office buildings, encompassing roughly 190,000 square feet of office space.
- Makefield Crossing South includes four buildings, of which Rubenstein owns three that encompass roughly 277,000 square feet of office space. The company’s capital improvements program includes adding and upgrading amenities similar to the North campus — a fitness center, conference center, and full-service café and tenant lounge — as well as partially replacing the interior parking lot with a collaborative greenspace that connects the new amenities to waterfront decks. The building common areas — such as main lobbies, restrooms and corridors — will be upgraded, as will signage, to reflect the updated property branding.
“New and existing tenants have embraced our previously announced capital improvement plan for Makefield Crossing, which we are now executing after securing unanimous approvals from the Township,” said Louis Merlini, vice president of asset management at Rubenstein. “We believe that Makefield Crossing will become even more attractive to users as we proceed with our plans and the end result comes into focus. This will be a fully modernized, amenitized campus with new outdoor spaces, better fitness offerings and updated finishes. There will be nothing like it in Bucks County.”
The company has added several tenants to its portfolio roster during the past 12 months. Notable office leases in the Philadelphia area include: a 21,000-square-foot lease by Biohaven Pharmaceuticals Inc.; a 22,000-square-foot expansion and renewal of Cello Health lease; and a 22,400-square-foot renewal and expansion of Jubilant Pharma space.
JLL Executive Vice Presidents Doug Newbert and Mike MacCrory led the leasing team for Makefield Crossing on behalf of Rubenstein.
Property images courtesy of Yardi Matrix.