The four-story, class A office building, located at 1655 Valley Rd., is on an 11-acre site and has two 70,000-square-foot wings centered around a four story glass atrium lobby. Amenities include a full-service cafeteria with indoor and outdoor seating, executive offices, heavy duty electrical service and a raised floor computer room.
"The quality amenities combined with the location made this a great fit for UPS, and the remaining 40,000 square feet of space is ideal for a full- or partial-floor tenant in this submarket," says Bill Fenn, vice president of asset management at New Boston Fund, which has owned the building since 2006 as part of its Fund VI portfolio. While Fenn would not disclose UPS' rent, Passaic County prices are running around $20.86 per month, according to Cushman & Wakefield figures.
David Simson, vice chairman of Newmark Knight Frank's New Jersey offices, represented the ownership, a joint venture partnership between New Boston Fund and Prism Capital Partners. Tom Consiglio, principal of Resource Realty, acted on behalf of UPS.
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