KRE GROUP ANNOUNCES TENANT EXPANSIONS AND LEASE EXTENSIONS AT TWO OFFICE PROPERTIES IN PARSIPPANY

The KRE Group (www.thekregroup.com), one of the largest privately held real estate companies in New Jersey, announced today that tenants in two of its Parsippany Corporate Center buildings have signed lease extensions and expanded their office space.

            Frontline Medical Communications, Inc. signed a five-year lease for a 25,665 square-foot space at 7 Century Drive in the Parsippany Corporate Center.  Right down the street, Emergency Medical Associates of New Jersey signed a 12-year lease for the entire third floor of 3 Century Drive, a three-story, 68,203 square-foot building. The companies both cited the growth of the economy and an increase in jobs as motivating factors.

            “With the expansions and lease extensions announced by these two core tenants, both 3 Century Drive and 7 Century Drive are now 100 percent leased,” said Justin Gingeleskie, Director of Leasing for The KRE Group. “The buildings’ desirable locations near major highways such as Route 287 and Route 80, combined with attractive lease rates, have contributed to the properties outperforming the market. Our tenants also appreciate the stability, hands-on service and commitment to modern, upgraded properties that are hallmarks of KRE Group.”

            Situated just off of Route 202 in one of the busiest office hubs in New Jersey, 3 Century Drive and 7 Century Drive are modern, Class A office properties conveniently located near restaurants, hotels, shopping and major highways. 3 Century Drive is a reflective bronze glass and masonry building that features a full-service café and a recently expanded and re-surfaced parking lot. 7 Century Drive is a similarly modern building that features a unique mahogany and granite lobby and a recently expanded and re-surfaced parking lot. Both properties offer easy access to Routes 10, 287, 202 and 80. The two properties combined account for 134,000 square feet of the more than 6,000,000 square feet of office, warehouse and retail space KRE currently manages.

            For more information on The KRE Group and its office properties, visit www.thekregroup.com. For more information on leasing, contact Justin Gingeleskie at 908-725-8100.

About KRE Group

Headquartered in Bridgewater, NJ, KRE Group is one of the largest privately held diversified real estate companies in New Jersey.  It owns and manages more than 6,000,000 square feet of office, warehouse and retail space.  It also has a multi-family portfolio which exceeds 5,000 existing apartments, with an additional 7,000 in various stages of approval and construction. For more information, visit the company’s website at www.thekregroup.com.

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