Firm moves to newer, more energy-efficient facility after 15 years in Parsippany
MADISON, N.J., June 08, 2012 - Prudential Real Estate Investors today officially opened its new corporate headquarters in Madison, N.J. after nearly 15 years in its previous location six miles away in Parsippany. PREI® is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE: PRU).
In making the move to 7 Giralda Farms, a historic property in Morris County, the firm’s employees now have a more open floor plan and have convenient access to New York City. The new offices are also more energy-efficient than the Parsippany office with PREI seeking LEED Platinum certification, in keeping with its socially responsible investment policy adopted in 2011.
“In considering options for a new corporate headquarters, we wanted to create a space that improves our work environment while at the same time reflects the high standards and professionalism our clients have come to expect from one of the largest real estate investment firms in the world,” said Allen Smith, CEO of PREI. “In seeking LEED Platinum certification, we look to demonstrate our commitment to a socially responsible investment policy for properties within our global portfolios.”
PREI spent nearly 15 years in its previous location at 8 Campus Drive in Parsippany. The new Giralda Farms headquarters is situated in a wooded office park that is also home to several other large, well-known firms. Giralda Farms was originally the estate of Geraldine Rockefeller Dodge, the daughter of financier William Rockefeller and the wife of Marcellus Hartley Dodge, chairman of the Remington Arms Company. Geraldine Rockefeller Dodge purchased the property and gave it to the Borough of Madison to honor her son, who was killed in an automobile accident in 1935.
A dog and horse enthusiast, Dodge was the first woman invited to judge at the Westminster Kennel Club, and she personally hosted numerous internationally renowned dog and horse shows at Giralda Farms over the years. Following her death in 1973 at the age of 91, the property was converted into a corporate park.
PREI’s new offices are located in a building that was constructed on the property in 2000. It features covered parking and provides direct elevator access to the office space. It is also 1.5 miles from the Convent Station train station, which provides direct access to Midtown Manhattan. An employee shuttle is available between the office and the train station. A cafeteria and exercise facility is also available.
PREI is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., PREI has other offices in Atlanta, Chicago, Miami, New York, San Francisco, Miami, London, Lisbon, Luxembourg, Madrid, Munich, Paris, Istanbul, Abu Dhabi, Mexico City, Rio de Janeiro, Sao Paulo, Beijing, Hong Kong, Seoul, Singapore, and Tokyo. In addition, PREI has representatives in Milan and is establishing a presence in Sydney (pending regulatory approval). As of December 31, 2011, PREI managed approximately $49.1 billion in gross real estate assets ($31.1 billion net) on behalf of more than 490 clients worldwide. For more information, visit http://www.prei.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $943 billion of assets under management as of March 31, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.