Mountain Lakes, NJ-based Vision Real Estate Partners (VREP) announced that it had launched the repositioning of the Montville Corporate Campus, renovating the twin office buildings at 340-342 Changebridge Road for multi-tenant use. VREP acquired the property last summer from Bayer Pharmaceuticals; according to a NJBIZ report, when it acquired the campus VREP said the the deal was tied to the development of Bayer's East Coast headquarters by Vision Equities, a separate firm that includes VREP's founder as a principal. The new 675,000-square-foot complex in Hanover opened in fall 2013, following Bayer's consolidation from three sites, including Montville.
"We are taking an already institutional-quality office building and bringing it up to today's workplace standards," noted VREP's Sam Morreale, founder and managing partner. "Our goal is to provide a setting that helps tenants win and keep employees; promotes productivity and success; and offers the best in design, efficiency and aesthetics." VREP is also working to re-zone half the 27-acre campus for residential – with high-end multifamily specialist Mill Creek already on board as developer.
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