Visual Graphic Systems Signs Nearly 107,000 SF Lease Renewal in Carlstadt

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

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

Avison Young was able to secure an early renewal and extension lease at 330 Washington Ave. allowing VGS to stay in the saturated Carlstadt/Rutherford submarket, while also negotiating other terms including a tenant improvement package.

Avison Young’s Ed English, Ron Ganter, Tom Giannone and Paul Errigo represented VGS in the negotiations. Prologis, Inc., the building owner, was represented internally by Jason Tenenbaum.

Prologis agreed to streamline VGS’ base rent but also fix all operating and capital expenses, except for property taxes, for the term of the lease extension, according to Avison Young.

“Markets like Carlstadt/Rutherford have seen rents increase more than 60% since 2009, and those increases can have a severe impact on a tenant if they are simply reacting to the market,” notes Ed English. “Smart tenants like VGS are being proactive and strategic about their real estate.”