Deal underscores continued success of firm’s value-add strategy at formerly distressed property
Montville, N.J. (February 9, 2022) – Diversified Properties announces it has signed a lease with Nexiix Marketing for 750 square feet of office space at Montville Center located 350 Main Road in Montville, N.J.
Montville Center is comprised of a 33,900-square-foot, two-story office building and a 98,000-square-foot CubeSmart self-storage facility situated on a five-acre site located at the intersection of Interstate 287 and Route 202 in Montville. The office building boasts on-site ownership and management, on-site daycare provided by Kiddie Academy, and a parking ratio of 4/1,000, making it an ideal destination for professional services firms like Nexiix Marketing.
Established in 2017, Nexiix Marketing is focused on helping small businesses achieve their marketing goals through digital advertising, website design, SEO, and branding services. Nexiix Marketing’s team of highly experienced professionals is trusted by clients such as Bloomble, Sotheby’s, PepsiCo, First Alliance Home Mortgage, Gilead, and Provident Bank. Previously located in Morristown, their new lease at Montville Center will enable them greater access to prospective clients in the northern New Jersey area.
The new lease with Nexiix Marketing brings Montville Center’s office building to 100 percent occupancy and marks the continued success of Diversified Properties’ value-add strategy at Montville Center.
At the time of Diversified Properties’ acquisition in 2015, the distressed site’s office building was 80 percent vacant with an undeveloped 2.5-acre pad site that is now home to the CubeSmart facility. Diversified Properties’ deep roots in Montville and their keen understanding of local market dynamics enabled them to recognize the unique value-add potential of the site and leveraged its significant construction and ground-up development experience to bring the 98,000-square-foot, 755-unit CubeSmart self-storage facility to life in 2020. Additionally, Diversified Properties executed an aggressive leasing strategy for the office building that included the relocation of the company’s corporate headquarters to the second floor of the property.
Diversified also invested in a significant capital improvement plan to bring the building up to modern standards which included new carpeting and LED lighting throughout common areas in addition to a new roof and additional onsite professional management and landscaping services. In addition to the headquarters for Diversified Properties, the office building is now home to a diverse range of tenants including SportsCare Physical Therapy, Montville Pediatric Dentistry and Kiddie Academy, which operates an 11,570-square-foot state-of-the-art early childhood learning and daycare center.
“Our time-tested value-add approach coupled with an aggressive multi-tenant leasing strategy has proved successful once again as we celebrate full occupancy at this office building,” said Nicholas Minoia, Founder and Managing Partner of Diversified Properties. “Since acquiring Montville Center seven years ago, we have transformed what had been a distressed property into a destination capable of consistently attracting and retaining quality tenants. We welcome Nexiix Marketing to Montville Center and are confident it will be the ideal space to accommodate their continued growth.”