NYT: Developers See Possibility (and Value) in Old Steel

A recent project by Kohn Pedersen Fox Associates for Hampshire Real Estate Companies showcases the many advantages of turning existing steel structures into Class A office spaces that suit the needs of today’s commercial tenants. Stripping the Centra office building in Iselin, NJ, to its steel structure will be nearly $5 million less expensive than building a new space, a savings that will allow the developer to offer lower rents in the difficult real estate environment.

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The building will grow from 75,000 to 110,000 square feet with a unique structural design that uses an asymmetrical tree-column and truss to support the extended fourth floor. A rectangular hole in the center of the suspended fourth floor will allow the the ground-level grand entry plaza to be filled with natural daylight. The building is targeting LEED Silver.

The existing 5-story structure will be repositioned to enhance its visual presence in the office park.