Mid Atlantic Real Estate Journal — New Jersey — June 14 - 27, 2013 — B
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N orthern N ew J ersey
ockl e i gh , N J — Newmark Grubb K n i g h t F r a n k Rockleigh Corporate Center, 8 King Rd. Newmark Grubb Knight Frank brokers 191,000 s/f lease in Northern New Jersey R
(NGKF) has negotiated a new lease and expansion on behalf of Spectra Laboratories at Rockleigh Corporate Center, 8 King Rd. in Rockleigh. Under the terms of the 15-year lease, Spectra will expand its U.S. headquarters from 107,000 s/f to a total of 191,000 s/f. The NGKF team of Frank Recine , executive managing director, and Blake Goodman , managing director, assisted by David Simson , COO and vice chairman of New Jersey opera- tions, spearheaded the project, which followed the recent sale of 8 King Rd. by GHP Office Realty to Boston-based Mar- cus Partners . The new owner, a landlord to Spectra at another one of its locations, plans to ex- pand and retrofit the property to accommodate its tenant’s long-term vision. “We worked on this require- ment for more than three years, with a site search that included New Jersey, New York and North Carolina,” said Recine. “Spectra was close to moving to another location after our team’s careful analysis of the various markets and the po- tential incentives, but opted to expand at its existing location and retrofit the headquarters facility. “Marcus Partners’ acquisi- tion of the building and com- mitment to Spectra ultimately influenced the firm’s decision,” he said. Spectra Laboratories, a wholly owned subsidiary of Fresenius Medical Care North America, is a leading provider of clinical laboratory services for kidney dialysis. “The expanded requirement was necessitated by its new business lines and functions,” said Goodman. “Of the total space, 60 percent is office space and 40 percent is laboratory space.” Rockleigh Corporate Center is a two-building, multi-ten- ant office/flex complex total- ing 194,000 s/f, including a 184,000-square-foot, two-story main building primarily oc- cupied by Spectra. The loca- tion is near both the Palisades Parkway and I-87 in Northern Bergen County. Pending improvements to Rockleigh Corporate Center include retrofitting the entire property and a 30,000s/f expan-
Frank Recine
Blake Goodman
David Simson
8 King Rd. in Rockleigh.
sion to accommodate Spectra. “The expansion and improve- ments will be completed with a landlord contribution to the
tenant,” said Simson. “Spectra will expand from its current space to 191,000 s/f as the improvement and expansion
process commences in the near term. “We were ultimately able to
create a solution that is in the best interests of all parties,” he said. n
Dominance: “...most influential, having a commanding position.” (Webster’s) Q1 2013 • 23 DEALS • Averaged 2 Deals per Week DOMINANCE. New Jersey’s dominant brokerage firm specializing in the sale of
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