Bank Subleases 16,823 SF for Expanded HQ

RAMSEY, NJ-The transaction by Commerce Bank North carries an aggregate rental of $2.2 million for a 10-year term. Pezrow Cos. is the sublessor.

By Eric Peterson | Updated on December 05, 2001

RAMSEY, NJ-Commerce Bank North has subleased 16,823 sf at 535 E. Crescent Ave. here, which the company intends to use as its expanded headquarters. CBN is moving to the new location from its existing nearby facility. The lease carries an aggregate rental of $2.2 million for a 10-year term.

The sublessor is the Pezrow Cos., a grocery store supplier that had used it for administrative purposes. The transaction was arranged for both Pezrow and building owner the Wilson Cos. by the Jaime M. Weiss Realty Co. John Silverstein of Interstate Commercial Real Estate represented Commerce Bank North.

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