EAST RUHTERFORD, NJ-RD Management Corp. has signed a long-term ground lease for a 17.35-acre land parcel here from landlord Honeywell International Inc. The terms of the lease were not released.The Garibaldi Group/Corfac International, based in Chatham, represented Honeywell, the Morris Township-based technology and manufacturing company that owns the land. Peter Blanchard acted as principal for the deal. RD Management was represented by Gerald H. Genet, of his self-titled company based in Maplewood.
"This land parcel is situated in an ideal location in the heart of the Route 17 corridor in East Rutherford," Blanchard says.
RD Management, based in New York, is proceeding with construction to build a Lowe's Home Center on the site. Other retail uses are also planned for the acreage, along one of the busiest retail highways in New Jersey.
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