6B — May 16 - 29, 2014 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
C entral N ew J ersey
Adam Englander of CBRE represented the landlord, Tanzanite Realty, in the transaction Cushman & Wakefield arranges 17,000 s/f headquarter lease for Petra Systems S OUTH PLAINFIELD, NJ — Commercial real estate services firm Cush-
are based at the firm’s East Rutherford, NJ, office, headed the assignment on behalf of Petra Systems. Tanzanite Realty, LLC owns the 160,000 s/f 1 Cragwood Rd. building and was represented by Adam Englander from CBRE in the long-term lease. Founded in 2006 as Petra Solar, Petra Systems deliv- ers reliable and cost-effective smart energy solutions to power tomorrow’s cities, highways,mi- crogrids, and solar power plants and grids. Its products improve energy efficiency, enable carbon neutral and green initiatives,
man & Wakefield has orches- trated a 17,000 s/f headquarters lease for Petra Systems, at 1 Cragwood Rd. in South Plain- field. The global provider of distributed-power electronic technologies relocated to the Class A office property this win- ter from a nearby flex property, in a move that coincides with the company’s renaming and rebranding. Cushman & Wakefield’s Sla- vaVaynberg , Marc Trevisan and David Sherman , who
1 Cragwood Rd., South Plainfield, NJ
a section of the Mid Atlantic Real Estate Journal P.O. Box 26, Accord, MA 02018 781-871-5298 • 800-584-1062 fax 781-871-5299 www.marejournal.com NJ Real Estate Journal According to Vaynberg, 1 Cragwood Road is one of the best Class A assets in the I-287 market. “This building and location enabled Petra Systems to optimize its headquarters operation followingseveral years of rapid growth in the previous location,” he said. “It also offers plenty of room for expansion.” n enhance safetyand security, and reduce overall system costs and environmental impact. The company previously housed its manufacturing and administrative operations to- gether. “As part of our rebrand- ing, we wanted to separate our headquarters offices into a facility that would provide an upscale, corporate image,” explained John Warren, Pe- tra’s vice president of human resources, who headed the relo- cation initiative. “This building projects the right look. It also is less than one mile from our old address, which made the com- muting transition seamless for our employees.”
Section Editor Julie King editor@marejournal.com
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