Aon, a leading provider of risk management services, insurance and reinsurance brokerage and human capital and management consulting, will occupy 31,000 square feet at 44 Whippany Road.

CBRE Executive Vice President Edward DaCosta represented Aon in the transaction.

“This lease is a testament to the success of our renovation program at 44 Whippany Road, which has been strategically enhanced to provide tenants with a best-in-class, modern work environment,,” said Todd Rechler, Co-COO of RXR and President of RXR Construction and Development. Recently, RXR completed significant upgrades to the property44 Whippany Road, reaching the highest level of modern Class A standards.

Added Rechler: “The numerous environmental improvements we have made enhance the overall sustainability of the building, from adding energy-efficient HVAC and management systems, to installing LED lighting and water-saving restroom features. “We are pleased to welcome Aon to this premier property, and are confident that the company will benefit from this site’s upgraded facilities and prime location near exceptional amenities and upgraded facilities,” Rechler added.” “The numerous environmental improvements we have made including adding energy efficient HVAC & management systems, LED lighting, water-saving restroom features will provide AON with economic savings.”]

As part of the renovation program, 44 Whippany Road underwent interior renovations   completely redesigning the building’s lobby and common areas with the addition of new granite floors and finishes, a new ceiling and energy efficient lighting. RXR also added a state-of-the-art fitness center and multi-purpose team room as amenities for tenants. Additionally,   the building’s HVAC system and controls were replenishedreplaced to provide  improved comfort and individual tenant accommodation. The exterior landscaping  was extensively rejuvenated and the hardscaping was reworked to provide a more modern look and feel, new plantings were installed and existing water features were upgraded.

The building’s new fitness center offers a multitude of cardio and weight-training machines in addition to treadmills and cycles, while the team room is a multifunctional space with audiovisual capabilities, seating approximately 28. It includes flexible furniture and is well suited for team training sessions as well as large conferences for the building’s tenants. The property features a jogging path that winds throughout the site the property.

Overlooking a serene pond set amid meticulously landscaped park-like surroundings adjacent to the pastoral 127-acre Frelinghuysen Arboretum, the property’s floor plates are large-scale and can accommodate tenants of 80,000 square feet on a single floor.. Tenants also have a host of other first-class, on-site amenities including a café, 24/7 security access and ample parking. The property benefits from its easily accessible location close to Routes 287 and 24, the NJ Transit Midtown Direct Express commuter rail in Morristown and Convent Station and the Morristown Airport. The Westin Governor Morris Hotel is a neighboring property available for fine dining and conferencing facilities, and downtown Morristown offers additional shopping, restaurants and entertainment opportunities.

About RXR

RXR Realty LLC (“RXR”) is a vertically integrated private real estate company with expertise in investment management, property management, development, design, construction, leasing and  financing.

RXR’s core growth strategy is focused on New York City and the surrounding tri-state area markets.  RXR is one of the largest owners, managers, and developers in the New York Tri-State area with interests in approximately $4.7 billion of assets, comprised of 106 operating properties containing approximately 18.0 million square feet. For information about RXR, visit  www.rxrrealty.com

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]]> http://www.rxrrealty.com/5909/aon-leases-31000-sf-at-44-whippany-road/feed/ 0 http://www.rxrrealty.com/5862/anton-newspapers-2012-marathon-weekend/ http://www.rxrrealty.com/5862/anton-newspapers-2012-marathon-weekend/#comments Thu, 26 Apr 2012 16:33:09 +0000 lou http://www.rxrrealty.com/?p=5862 Click here to read Anton Newspaper’s coverage of the 2012 Long Island Marathon.

“Flags of Hope” is based upon the philosophy of Tibetan Prayer Flags, whereby hopes and prayers are liberated into the air through symbolic form. The imagery reflects Art Therapy interventions brought together in one coherent, organized expression, reflecting a powerful step on the road towards self regulation, balance and control. Art Therapy intervention allows the artists to consciously channel the idea of withstanding the incredible depth of anxieties, depression and worry through creative expression and instill understanding, hope and peace through their work.

The exhibit will be featured in two of RXRs locations on Long Island, The OMNI Gallery 333 Earle Ovington Boulevard, Uniondale – Mitchel Field, on April 23, 24, 25 and the RXR Plaza, 626 RXR Plaza, Uniondale, on April 30,  May 1 and 2. The exhibit will debut with a news conference and reception on Tuesday, April 24, 11:00 a.m.-12:00 p.m. at The OMNI Gallery, (Digital images are available upon request).

“I would like to express our deep appreciation to RXR for their support in helping to empower our artists to share their gifts and talents by participating in FREE’s varied programs,” remarked Robert S. Budd, CEO for FREE.  “Through innovative and inspiring programs we are able to further our ability to provide the most creative and comprehensive services available.”

“It is with great pride that we bring this exhibit to RXR locations during April, Autism Awareness Month,” said Scott Rechler, CEO of RXR Realty. “We applaud FREE for their dedication and commitment to enhancing the lives of those with special needs and helping pave the way for the realization of potential.”

Over the years, much has been written about the power of art for healing and communication, as well as the benefits for individuals who may find it difficult to express their thoughts and feelings through spoken words alone. “Flags of Hope” art exhibit offers a testament to this power, as the artists have touched feelings of anger, fear and chaos and transformed them into feelings of safety, trust, understanding and love, creating an opportunity to send their message out into our world, contributing to world peace and harmony.

PICTURED HERE: Ed Regensburg & Anita Dowd from FREE and Carol Allen & Ken Bauer from RXR

About RXR Realty

RXR Realty LLC (“RXR”) is a vertically integrated private real estate company with expertise in investment management, property management, development, design, construction, leasing and financing. RXR’s core growth strategy is focused on New York City and the surrounding tri-state area markets. RXR is one of the largest owners, managers, and developers in the New York Tri-State area with interests in approximately $4.7 billion of assets, comprised of 106 operating properties containing approximately 18.0 million square feet. For information about RXR, visit  www.rxrrealty.com

About Family Residences and Essential Enterprises, Inc. (FREE)

FREE founded in 1977 and headquartered in Old Bethpage, benefits and proudly supports more than 3,000 individuals with different abilities and their families each year. Its mission is to support individuals of all abilities to realize their full potential and to achieve personal happiness. FREE provides a diverse array of support and services including: housing, rehabilitation services, prevocational/day and employment services, family services, education and after-school support, health care/clinical services and advocacy. For more information, please call 516-870-1622 or visit www.familyres.org.

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GENERAL JOB DESCRIPTION:

Provide direct support to the Tax Director/Assistant Tax Director to ensure the Company meets its tax filing obligations, with the goal of minimizing the Company’s exposure to taxing authorities.  Supports the efforts of the Tax Director/Assistant Tax Director to ensure that the Company complies with all applicable laws and tax code provisions, particularly related to the real estate investment trusts that are in the organizational structure.  Supports efforts of Chief Executive Officer and the Chief Financial Officer in fulfilling the goals and objectives set forth in the Business Plans and other goals, objectives and initiatives as assigned. All of this is to be done in a manner consistent with the Vision, Mission, and Values articulated in the Company’s Core Ideology.

PRINCIPAL DUTIES AND RESPONSIBILITIES

• Prepare workpapers required to prepare federal, state and local income tax returns for various business entities.
• Track filing obligations of each of the Company’s entities, to ensure that the Company is filing all required returns in each applicable jurisdiction.
• Project federal and state taxable income on a quarterly basis so that estimates taxes are timely paid.
• Maintain tax files in a highly organized fashion, referencing all workpapers back to source documents.
• Ensure compliance with REIT rules by performing quarterly asset tests and annual income tests.
• Sends shareholder demand letters to applicable shareholders, and tracks responses to the letters.
• Assist in various aspects of tax planning and consulting, as required.
• Perform calculations to project/determine, for federal income tax purposes, the taxability of the Company’s distributions.
• Perform complex calculations required to properly allocate depreciation expense and partnership liabilities.
• Project allocations of income to partners of the Company.
• Calculate amounts to be withheld from limited partners for various domestic and foreign jurisdictions/Notify partners of amounts withheld from distributions/Complete and file appropriate tax forms/returns.
• Implement and maintain internal controls over tax department functions.
• Respond to and track status of all tax notices received by the Company from various taxing jurisdictions.
• Provide support to others as required.
• Work as a team member and perform other duties as may be assigned.

REQUIRED SKILLS AND ATTRIBUTES:

• Bachelor’s degree required/Advanced degree in Taxation preferred.
• 1-2 years of experience in Tax Department of public accounting firm
• Experience with REIT/real estate and partnership tax issues preferred.
• Proficient in the use of spreadsheet programs, depreciation and tax preparation software
• Attention to detail.
• Personable, able to deal within the framework of a large organization and work with others as a team player.
• Must be intelligent, highly organized, motivated, self-starter.
• Diligent and focused individual who enjoys work.
• Proactive and communicative.
• Able to keep inside information confidential.

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Join us on April 26 to find out and learn from Rechler and over 40 other industry leaders and area experts as w delve into the dynamics of the ever changing marketplace to discuss financing, investment, development, and specifics of Office, Retail, and Hotel property segments, as well as Note Acquisitions and both Debt and Equity Financing for acquisitions and new development.

For more information visit http://mkcresummit.com/

GENERAL JOB DESCRIPTION:

The handyman is the face of RXR Management in attending to the day to day operation of the property. Responsibilities include responding to a tenant service request in an efficient, friendly and responsible manner.  They must be reliable, able to work on their own or as directed by the Building Manager. Perform maintenance and repairs, painting, cleaning and other tasks required for keeping this Landmark building and its equipment in good working order. This is a 32 BJ position. Two positions are available: Sun.-Thurs. 9 a.m. to 6 p.m. and Mon.-Fri. 2 p.m. -10 p.m.

PRINCIPAL DUTIES AND RESPONSIBILITIES:

•  Monitor operation of building equipment, listing temperature and pressure readings
• Take appropriate actions to correct any out of range conditions
• Perform chemical tests on cooling tower and boiler water daily. Add chemicals as required
• Repair or replace pumps and motors, change oil and air filters, grease bearings, replace drive belts checking for proper alignment
• Able to replace lighting ballasts and bulbs working off a 12 ft ladder or up to 24 ft on a lift.
• Plumbing repairs including repacking of steam or water valves, repair of flushometers, faucets and opening up clogged drains by using a electric snake. Thread pipe
• Quickly respond to tenant requests for service
• Daily record meter readings for electric, water and overtime heat
• Painting of equipment and machinery rooms
• List any items needed to order to keep adequate stock of tools, parts and fittings
• Obtain a P-99 low psi license to fill operate the steam boilers.
• Work on projects as directed individually or as part of a team.
• Work extra hours as required for building operations, vacation relief, Holidays
• Must be a member of 32 BJ or willing to join 32 BJ.

REQUIRED SKILLS AND ATTRIBUTES:

• Handyman  must be an efficient, motivated hard worker.  Prompt and reliable.
• Have some basic computer skills in excel and word.
• Be service oriented; be willing to go the “extra mile” to satisfy a tenant’s request for service.
• Have a thorough knowledge of the building and equipment.
• Obtain the required certificates P-99 low psi boiler operator, F-97 sprinkler/standpipe, Torch operator certificate.
• Must be capable of dealing calmly and efficiently during emergency situations.
• The regular schedule includes working one weekend day.

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NEW YORK CITY – Partnering up to originate and purchase commercial real estate debt assets, fund manager Hudson Realty Capital LLC and owner/manager RXR Realty LLC are working together on a new lending platform. The two companies will focus on first-mortgage bridge loans, as well as B notes, mezzanine and preferred equity opportunities in Manhattan, the city’s outer-boroughs, southern Connecticut and Westchester County.

Spencer Garfield, managing director at Hudson, tells GlobeSt.com that joint venture will generally target loans or investments in the amounts between $10 million and $50 million throughout the capital stack — an area that both companies believe is a significantly underserved segment of the market, particularly for value-add investments, as well as recapitalizations.

“It gets us both into a space that we otherwise wouldn’t be in,” he says, noting that Hudson will have access to a larger playing field. “We’d definitely make investments in the $5 million to $35 million range. We are generally a senior bridge lender. This venture will enable us to get into much larger capital stacks in subordinate positions. For RXR, it allows them to get into the debt space.”

The JV will participate in most property types, including office, multifamily, retail, industrial, mixed-use and self-storage. Garfield says both Hudson and RXR will originate, but Hudson will do the underwriting. When finalizing a transaction, the committee and approvals process will be a joint Hudson and RXR process.

“Hudson will asset manage, but depending on the nature of the transaction, whether it has a construction component, then we will bring in the expertise of RXR as well,” he adds.

RXR, which owns interests in and manages more than 17 million square feet of property in New York City and the surrounding Tri-State Area, recently purchased the Starrett-Lehigh Building in West Chelsea for $920 million. The firm has also acquired 1330 Avenue of the Americas in Midtown and Flatiron trophy, 620 Avenue of the Americas.

Hudson manages more than $2 billion in real estate assets and focuses on originating, underwriting and servicing real estate loans.

In a statement, Michael Maturo, president of RXR, says its partnership with Hudson is a “natural extension” of the company’s real estate investment platform.

“We have been active acquirers and originators of large structured finance investments in the past, but have passed on many attractive smaller deals that were not efficient for us to transact,” he says. “This platform will combine the benefits of our long-standing presence and relationships in the New York Tri-State markets with Hudson’s origination and servicing skill set.”

Hudson and RXR have known each other for over 15 years – and now, are finally working together as partners.

“People have asked why RXR and Hudson, and we’ve been friends with RXR and have had respect for them,” Garfield says. “It’s something we discussed for many years and we felt the timing was right.”