News

Paramount Realty Acquires River Centre

06/16/2021

Paramount Realty, in partnership with Crown Acquisitions, has acquired River Centre in Red Bank, New Jersey, a 6-building 668,107 square foot Class A Office Campus located along the heavily traveled Newman Springs Road and directly off of Exit 109 of the Garden State Parkway. The Campus is tenanted by a diverse mix of 28 tenants across 15 industries, including significant anchor tenant tenure with UBS Financial, Maser Consulting, and Withum Smith & Brown.

The River Centre Campus is complete with a full-service amenity center, accessible to all tenants. Featuring a forward-looking fitness facility, a chef-led café and dining hall, a recreation lounge, and outdoor seating areas, it is designed to support Campus tenants and deliver an integrated approach to wellness and work. In addition, a new 120,000 square foot Life Time Fitness, the nation’s premier athletic club, will be located directly adjacent to the Campus and slated for a 2022 opening. Life Time Fitness offers an unmatched luxury health and wellness experience and will be a game changing and unmatched local amenity to River Centre.

The Campus benefits from affluent trade area demographics including an average annual household income of nearly $200,000 within a 3-mile radius. In addition to its proximity to the Garden State Parkway, the Campus also enjoys easy access to mass transit being a short distance to the Red Bank NJ Transit Station, coupled with New York City Bus service being available on-site. The Campus is also a stone throw away from downtown Red Bank to the east and is just minutes away from what will be a new $1 Billion RWJ Barnabas/Monmouth Medical Health Campus that will soon be developed in Fort Monmouth.