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LEASES
NEW JERSEY
CBRE announced four new office lease transactions at Mount Kemble Corporate Center located at 350-360 Mount Kemble Avenue in Morristown, New Jersey. The new deals, totaling 39,832 s/f bring the Class A, two-building office complex owned in partnership between The Birch Group and Vision Properties, to 97 percent occupancy. CBRE’s Daniel Casey and Greg Barkan are the exclusive leasing agents at the property and represented ownership during the negotiations.
• NFP, which was represented by CBRE’s Jeffrey Babikian and Conor Dolan, inked a 16,970 s/f lease.
• Technology company Avaya committed to an additional 11,161 s/f of expansion space at the property. The firm previously occupied 36,937 s/f but required additional space to accommodate its growing business. Robert Donnelly, Jr. of Cushman & Wakefield represented Avaya in the lease negotiations.
• Lord, Abbett & Co. LLC leased 7,817 s/f of office space, which they will be utilizing for a disaster recovery center. The team of Timothy Greiner and Craig Eisenhardt of JLL negotiated the lease on behalf of Lord, Abbett & Co.
• 1792 Wealth Advisors, LLC took 3,884 s/f of office space that was fully furnished and move-in ready, which provided substantial savings for the firm. Mike Marchese of Chilmark Real Estate Services represented 1792 Wealth Advisors.
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Denholtz Properties announced the following leases:
• IVDV Associates Inc. has renewed their lease for 10,140 s/f of office space at the Business Center of Edison at 1090 King Georges Post Road in Edison, N.J. Kristine B. Hurlbut, senior vice president of leasing at Denholtz Properties, made the announcement.
• Dec’s Metal Fabrication, LLC leased 16,006 s/f of flex industrial space at 27 E Kearney Street in the Bridgewater Business Park in Bridgewater, N.J. Jordan Zimmel of Zimmel Associates represented Denholtz Properties and Dec’s Metal Fabrication in the exclusive transaction.
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The Goldstein Group announced Columbia Bank has relocated an existing branch to the former Capital One Bank space located at The Radburn Shopping Center, 24-02 Fair Lawn Avenue, Fair Lawn, New Jersey according to Chuck Lanyard, President of The Goldstein Group. The deal which consists of approximately 2,458 s/f was brokered by Neil Goldstein, Principal for The Goldstein Group who represented the tenant. Rick Mainardi of Mainardi Management Company represented the landlord, Margand Enterprises.
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Geosyntec Consultants has leased 8,886 s/f at Lindy Communities’ Princeton Place at Hopewell, in a long-term transaction orchestrated by Cushman & Wakefield. The global environmental consulting and engineering firm will relocate its regional office from Ewing, N.J., to the three-building, Class A office campus in a flight-to-amenities move. Cushman & Wakefield’s Todd Elfand, Kevin Carton, Paul Giannone and Joe Vacca represented Lindy Communities. Geosyntec Consultants was represented by Steve Tolkach from Newmark Knight Frank.
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NAI James E. Hanson announced the following leases:
• 2,300 s/f of office/retail space at 201 Rock Road in Glen Roc. Randy Horning and Darren Lizzack represented the landlord, 201 Glen Rock Road, LLC. Masserano Real Estate and Consulting, LLC’s Joe Lobardi and John Masserano represented the tenant, Glen Rock Pediatric Dentistry, LLC, in the transaction.
• A 1,830 s/f lease at 240 West Passaic Street in Maywood. Darren Lizzack and Randy Horning represented the tenant, Comprehensive Endocrinology, P.C., and McBride Corporate Real Estate’s Kevin O’Rourke represented the landlord, Miraj Realty, LLC, in the transaction. The 18,000 s/f two-story medical office building features ample parking and an elevator.
• Total Relocation Services leased 11,687 s/f of industrial space in the Ballantine Industrial Center at 397-447 Ferry Street in Newark. Russell Verducci and Eric Demmers represented the landlord, Turnbridge Equities. Barry Cohorsky, SIOR, and LJ Koch, also of NAI Hanson, represented the tenant in the transaction. NAI James E. Hanson serves as exclusive leasing broker for 726,525 square feet of space within the Ballantine Industrial Center. Total Relocation is a service provider that supports the entire country with a full range of move management, installation and commercial moving services.
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Not-for-profit organization Project for Empty Space has inked a deal for 20,000 s/f at Paramount Assets’ 800 Broad Street in Newark. The real estate investment firm’s executive director of leasing and marketing Samir Guzman arranged the long-term lease; Marta Villa of JLL represented the tenant. Relocating to 800 Broad Street from another Newark address, Project for Empty Space is a hub for multidisciplinary creative engagement. The organization’s new space will feature multiple galleries and exhibition areas, as well as amenitized studios.
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