16B — July 12 - 25, 2019 — New Jersey — M id A tlantic
Real Estate Journal
N ew J ersey
Reider works with Zabarkus & Travaglini of Signature Acquisitions to secure NewProvidence lease renewal NewmarkKnight FrankTri-State offices collaborate to arrange 200,000+ sf lease in Parsippany, NJ P meet our needs.” with over $300 million in asset value. strong and growing market,” added Ritman.
nutraceutical and functional food product development and manufacturing operations in NJ. Vitaquest already has op- erations in West Caldwell and Fairfield. “Northern NJ continues to be a strong market for indus- trial space with extremely low vacancy rates, making it challenging for tenants in the market looking to expand their operations,” said Patterson. “Through a col- laborative effort between our teams in New Jersey and Con- necticut we were able to develop a clear understanding of what Vitaquest needed and find them a perfect space in 100 Jefferson to expand their operations in a
ARSIPPANY, NJ — Newma r k Kn i gh t Frank (NKF) has ar- ranged a new long-term lease for Vitaquest International LLC (Vitaquest), a nutritional and functional foods manufacturer, at 100 Jefferson Rd. in Parsip- pany. NKF managing director James Ritman of the Stam- ford office and associate direc- tor Trevor Patterson of the Rutherford office represented Vitaquest in this transaction. Vitaquest will occupy the Pomeroy Suite within 100 Jef- ferson Rd. and have more than 200,000 s/f of industrial space in total for a new manufactur- ing and distribution facility as it continues to expand its WEST ORANGE, NJ — A mental health provider with a long history throughout the local area has come to West Orange. The Mental Health Associa- tion of Essex and Morris, which has roots dating back to 1950, is now leasing a trio of suites within the five-story, 100,000 s/f office building at 80 Main St. Headquartered in Mont- clair, the association has other locations in East Orange and Parsippany. The lease arrangement was managed by Eric Weston , vice president of Sheldon Gross Realty , a full-service commer- cial real estate firm that cov- ers all of New Jersey. Sheldon Gross Realty is itself a longtime tenant of 80 Main Street. “Because my office is here, I’m well aware that 80 Main Street in West Orange is a ter- rific location, and it’s a special treat for me to bring in a new tenant that will do so much to HARDING, NJ — NAI James E. Hanson , a New Jersey based full-service in- dependent commercial real estate firm has negotiated the sale of an 8,011 s/f office building at 906 Mt. Kemble Ave. in Harding. NAI James E. Hanson’s Michael Walters, SIOR, and Fernando Garip represented the seller, The Hampshire Companies , in the transaction with the buyer, HSD. HSD, a medical and life sci- ences product development
The Northern New Jersey industrial market has recorded 16 consecutive quarters of posi- tive net absorption. It has seen persistent demand for indus- trial space, with leasing activity over the past year amounting to 20 million s/f. Vacancy rates averaged 4.5% at the end of first quarter 2019, making it increasingly challenging for tenants in the market to find space. In New Providence, NKF an- nounced the execution of a lease renewal for 35,000 s/f of office space at 121 Chanlon Rd., on behalf of property owner Sig- nature Acquisitions , a real estate development company
“As Vitaquest has continued to build its business at an ex- ceptional pace, it has become necessary to further expand our operational capabilities in order to best serve our grow- ing customer base. Our new facility at 100 Jefferson will allow us to continue to flour- ish within the nutraceutical industry while providing the best possible service to our customers,” said Scott Ya- goda , general counsel and executive vice president at Vitaquest. “Partnering with the NKF tri-state team played an integral part in allowing us to find the perfect facility to
The NKF team led by associ- ate director Dan Reider , work- ing closely with Eric Zabarkus and Rich Travaglini of Sig- nature Acquisitions , secured the lease extension of tenant Martindale-Hubbell, which provides marketing and infor- mation services to the legal profession and is a division of Internet Brands, a KKR port- folio company. The property at 121 Chanlon Rd. is a four-story office build- ing totaling 111,000 s/f. The tenant was represented by J im Medenbach , managing direc- tor, and Charlie Dillion , ex- ecutive vice president of JLL .
SheldonGrossRealtymanaged lease of three suites at 80 Main Street
SRMannounces Triboro Square Ground Breaking in September
Triboro Square rendering
MONTVALE, NJ — As the marketing leasing agent, Sil- bert Realty & Management Company (SRM) is pleased to announce the new Triboro Square is fully approved and ground breaking scheduled to commence September 2019! The project will be on the for- mer Mercedes Benz N. America complex, situated at the signal- ized intersection withW. Grand Avenue (CR. 2), directly op- posite Wegmans supermarket anchored The Farm (Shoppes at DePiero) The redevelopment will be situated on 33 acres is proposed to comprise of 308 luxury rental apartments, ±51,000 s/f ground level retail/restaurant and ±40,500 s/f professional office, plus a 150 room hotel/confer- ence center. SRM also announced Trinity Rehab and Honor Yoga will be opening at The Corner Village at Warren, a 35,620 s/f class A mixed use retail / office devel- opment at 9 Mount Bethel Rd., situated at the signalized in- tersection of Mount Bethel Rd. and Mountain Blvd. in affluent
Warren Township. Trinity Rehab, is the fast growing NJ based physical therapy facility with several locations throughout the State making this the third facility in Somerset County alone. Trinity has leased on the 2nd floor with easy access from the parking lot to the elevator. Adjacent Trinity Rehab is Honor Yoga, a national franchise with 33 locations nationwide. The yoga studio has leased the “turret” portion taking advantage of the view which is certain to enhance the yoga experience. As exclusive leasing agent, SRM is proud to announce Popeye’s Louisiana Kitchen is scheduled to open this year at 36 State Route 9, a primary retail corridor through western Monmouth County in Marlboro Twp. Founded in New Orleans 40 years ago, Popeye’s now has over 2,600 locations across the US and aboard. The freestanding building with drive thru is part of a 32 acre development anchored by NYSC and Dunkin Donuts.
80 Main St.
support our local community,” Weston said. “The Mental Health Association of Essex and Morris provides a wealth of services that can truly improve people’s lives. And I know the association will be delighted with this location, because it’s home to such a variety of com- panies and organizations. It’s firm, had experienced sub- stantial growth over the past several years and was looking to relocate from a smaller of- fice along Mt. Kemble Avenue. Built in 1952, 906 Mt. Kemble Avenue is a three-story office building with a unique farm- house design, mirroring the idyllic country setting of the surrounding area. Less than 45 minutes from NYC and in close proximity to several international medical compa- nies, 906 Mt. Kemble Avenue offers HSD the same high level
ideal for making and maintain- ing connections.” Sheldon Gross Realty has managed the real estate needs of 80 Main St. for more than a decade. In February, it an- nounced a total of three new leases and seven lease renew- als in the building, all of which were managed by Weston. of access to their clients in the tri-state area that they had en- joyed in their previous space. The unique building provides HSD with a larger space to foster increased creativity and collaboration, which will allow them to build upon their four decades of work. “For unique spaces like 906 Mt. Kemble, familiarity with both the office market and the companies within it are vital to our ability to negotiate a sale on behalf of our clients,” said Walters.
NAI Hanson negotiates sale of 8,000 s/f office building in Harding
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