As one of New Jersey's premier technology and office centers, Convergence has a proud tradition as the exclusive home to some of the world's leading corporations.
For original owner International Telephone and Telegraph, the 68-acre site's tranquil suburban campus proved the ideal location for an assignment of historic proportion. In the 1950s, ITT erected the property's first building to house the switching equipment for the famous “Red Phone”, the hotline that provided secure communication between the White House and the Kremlin during the Cold War.
Later, the site's excellent access, infrastructure, and security attracted Bear Stearns, one of Wall Street's most prominent trading houses. Purchasing the property in 1987 Bear Stearns expanded the original building and existing powerhouse, added three additional buildings, and upgraded the technology infrastructure to accommodate its executive staff as well as its disaster recovery, mission critical, data center, and trading operations.
Following the property's ownership transition to JP Morgan Chase, another major technology upgrade was completed in 2010. The $23 million in improvements included replacing and expanding switching gears and generators, expanding transmission capacity, and boosting power and redundancy capabilities.
Today, under the ownership of Brookfield Asset Management, the campus is now available to accommodate a variety of business and corporate users who, for the first time in many years, have a chance to benefit from the move-in ready advantages of this exceptional site. |