14B — February 14 - 27, 2014 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N ew J ersey
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Refinanced trophyofficebuilding inLittleFalls, NJ Colliers Int’l. to represent Overlook at Great Notch
We are searching for high-level professionals to write a by-lined article about their area of expertise for upcoming spotlight features. Suggested topics include, but are not limited to: Development • Industrial Market • Multi-Family Market • Retail Market • Distribution Centers • Mediation • Real Estate Law • Mold • Environmental • Architecture • Engineering Reserve your topic soon, only one writer per topic. Based on a ? rst to reserve basis. (Be creative) Call 1-800-584-1062/781-871-5298 Ask for Elaine
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ITTLE FALLS, NJ —Ownership has suc- cessfully completed a
major recapi- talization of Overlook at Great Notch, its 425,000 s/f classAtrophy office build- ing at 150 Clove Rd. in Little Falls.
Richard Mirliss
The refinance program was completed by Theta Hold- ings Company, L.P. through a combination of equity and
150 Clove Rd. in Little Falls
debt along with East West Bank . Following on the heels of the recapitalization, biotechnol- ogy firm Genentech moved into its new 20,000 s/f office at the building after signing a long-term lease. The corpo- rate transaction points to the market’s appetite for space at Overlook at Great Notch, which is poised to begin a multi-million dollar capital improvement program. “The addition of Genentech to Overlook at Great Notch is a testament to ownership’s long-term commitment to this trophy asset,” said Richard Mirliss , executive managing director, Colliers Internation- al, who along with colleagues Richard Madison andAnthony Rinaldi were recently hired to represent Overlook at Great Notch. “Furthermore, it pre- pares this prime asset for a dynamic capital improvement program, which includes reno- vations to the lobby and com- mon areas, and constructing a state-of-the-art conference room and fitness center.” Amember of global pharma- ceutical company the Roche Group, Genentech is a re- search-driven corporation that uses human genetic in- formation to discover, develop, manufacture and commercial- ize medicines to treat patients with serious or life-threaten- ing medical conditions. The Little Falls site will serve as Genentech’s satellite office in New Jersey, housing approxi- mately 60 corporate support staff comprised of lawyers and procurement executives. Operations in Nutley and Clifton will cease by the end of 2013. Other tenants in the build- ing include Morgan Stanley, Mass Mutual, Cantel Medical, Sentrx Safety Solutions, and Systra Consulting. n
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