330 Washington Ave., Carlstadt, NJ 330 Washington Ave., Carlstadt, NJ

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CARLSTADT, NJ—Visual Graphics Systems has finalized an earlylease renewal for almost 107,000 square feet of space at Prologis'330 Washington Ave. complex here.

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The deal announced by commercial brokerage firm Avison Youngtotals 106,890 square feet. VGS, a designer and fabricator ofinterior/exterior visual communication systems (signage, fixtures,graphics), way finding programs, donor recognition solutions andmenu boards, had two years remaining on its existing lease at theproperty, which serves as the administrative headquarters for thecompany. The property also hosts its in-house design studios andmanufacturing space, product development, value-engineering andrapid prototyping functions.

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Avison Young was able to secure an early renewal and extensionlease at 330 Washington Ave. allowing VGS to stay in the saturatedCarlstadt/Rutherford submarket, while also negotiating other termsincluding a tenant improvement package.

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Avison Young's Ed English, Ron Ganter, Tom Giannone and PaulErrigo represented VGS in the negotiations. Prologis, Inc., the building owner, wasrepresented internally by Jason Tenenbaum.

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Prologis agreed to streamline VGS' base rent but also fix alloperating and capital expenses, except for property taxes, for theterm of the lease extension, according to Avison Young.

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"Markets like Carlstadt/Rutherford have seen rents increase morethan 60% since 2009, and those increases can have a severe impacton a tenant if they are simply reacting to the market," notes EdEnglish. "Smart tenants like VGS are being proactive and strategicabout their real estate."

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.