50 TICE BOULEVARD
Capstone acquired a 53% leased class-A office building from Mack-Cali Corporation.
The building totals 250,000 SF and is located at 50 Tice Boulevard Woodcliff Lake, NJ, prominently situated at the corner of Chestnut Ridge Road and Tice Boulevard.
Woodcliff Lake is known as a hub for corporate office centers; The surrounding area is populated by high income earners and is constantly growing.
Building Renovations Include:
Complete systems upgrade including $1.5M of new HVAC equipment and all new LED lighting.
Redesigned common spaces, a new executive conference room, fitness center, and café.
Reimagined interior design including new carpet, wallpaper, front lobby entrance, etc.
Complete landscaping overhaul, new front entrance, new trees, better visibility.
Forecast Deal IRR
Forecast Deal EM
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