Blue Owl Capital Signs Office Lease At 51 JFK Parkway

Press release from The Birch Group:

Oct. 18, 2021

The Birch Group, a privately-held commercial real estate investor, owner and operator, today announced that Blue Owl Capital (NYSE: OWL) has signed an 11-year office lease at 51 JFK Parkway in Short Hills, New Jersey. Blue Owl, a market leader in direct lending and capital solutions with headquarters in New York City, will occupy 19,791 square-feet on the second floor of the property.

As part of an extensive capital improvement program, The Birch Group plans to create a one-of-a-kind office experience that is set within New Jersey’s most prestigious business address. Plans for the property include an outdoor courtyard at the front of the campus with events and activities, walkways and connectivity to the surrounding neighborhood amenities and upgrades to the building’s commons areas and restrooms.

“When we acquired 51 JFK Parkway earlier this year, we were confident in our ability to attract long-term tenants to the property not only due to its prominent location but also due to our hands-on approach and vision of what the property can become,” said Mark Meisner, president and founder of The Birch Group. “We believe we’re creating something truly special at 51 JFK and we’re thrilled to welcome Blue Owl to the property.”

The 260,750-square-foot property features an on-site cafeteria, deli, newsstand and covered parking, further enhanced by access to a wide variety of top-tier mixed-use amenities just a few steps away — including the luxury Mall at Short Hills, a 4-Diamond Hilton Hotel, Canoe Brook Country Club, and recently completed upscale residential development The Upton.

In addition to Blue Owl, 51 JFK boasts a roster of high-profile business and financial services tenants including Investors Bank, KPMG, Bank of America, UBS and Wells Fargo Advisors. This latest lease with Blue Owl brings the property to 96% occupancy.

Situated within the prominent Short Hills submarket, tenants can tap into a highly-skilled labor base while attracting talent from surrounding zip codes and New York City. Conveniently located directly off of Route 24, the property offers regional connectivity to the Garden State Parkway, I-78, and the NJ Turnpike. The building is located less than 15 miles from Newark Liberty International Airport, and within easy reach of NJ Transit’s Summit Station, which provides tenants and visitors with an easy commute to Manhattan via the Midtown Direct train line.

This press release was produced by The Birch Group. The views expressed here are the author's own.