ELMWOOD PARK, NJ−Avison Young will announce today that it has been named the exclusive leasing agent for a three-building complex on River Road here and the marketing agent for a contiguous parcel for new construction, GlobeSt.com has learned.

The 500,000-square-foot site is well-suited for construction of a hotel or office, according to Bernard Langan, one of the complex's owners and a founder of Langan Engineering.

Jeffrey L. Heller, a principal of Avison Young's New Jersey office, said the existing complex and the new development site represent “a unique mix of value and opportunity.” Thomas G. Semler and Patrick R. Eichner complete the Avison Young team for the assignment.

The existing complex serves as the corporate headquarters of a Fortune 500 company, the North American headquarters of a European digital imaging company, the headquarters of a savings banks, and the headquarters of an international civil engineering firm.

The buildings at 611 and 619 River Drive and 200 Riverfront Boulevard are set just off Route 80 at exit 61, about 12 miles from Midtown Manhattan. They are also less than a mile from the Garden State Parkway and Route 46, close to Teterboro Airport and 16 miles from Newark Liberty International Airport.

“The three office buildings in this portfolio offer highly competitive space opportunities for businesses seeking to establish a presence in a centralized location without sacrificing quality or amenities,” says Eichner. “Ownership is headquartered at 200 Riverfront Boulevard, which ensures that tenants will benefit from responsive on-site management and ownership's commitment to maintaining these buildings' strong market position.”

Avison Young is currently marketing spaces in the three buildings that range from 1,250-65,000 square feet.

The office buildings have fiber optic connections, on-site storage, a full-service cafeteria and communal areas, and energy-efficient building systems. Grounds are extensively landscaped, with garden areas, fountains and reflective pools, a courtyard and walking paths.

Semler notes that there are newly-built apartments at the site. “This presents a great opportunity for a hotel operator or build-to-suit office tenant to take advantage of the area's continued growth,” he says.

The properties are close to an array of restaurants, from fast food to gourmet dining, as well as shopping, banks and other amenities.