Multinational IT Firm More Than Doubles Presence in Florham Park
The unidentified company signed a new 29,974 square-foot lease deal at the two-story, 139,750-square-foot asset, which combined with its previous 26,556 square feet of sublease space, brings its presence at the complex to 56,530 square feet.
FLORHAM PARK, NJ—Cushman & Wakefield reports a multinational professional services and information technology firm has signed a sublease deal totaling nearly 30,000 square feet at the 12 Vreeland Road office building here previously occupied by Nestle.
The unidentified company signed a new 29,974 square-foot lease deal at the two-story, 139,750-square-foot asset, which combined with its previous 26,556 square feet of sublease space, brings its presence at the complex to 56,530 square feet.
Cushman & Wakefield’s. William O’Keefe, Charles P. Parmelli and Kelsey Nakamura represented the sublandlord, Gerber Products Co. (Nestlé), in the transaction. The tenant was represented by John Cunningham and Fred Hyatt with JLL. The KRE Group is the owner of the complex, which was recently renovated.
“This tech-oriented tenant quickly outgrew its initial sublease space in the building,” said O’Keefe. “The company continues to see tremendous value in the existing infrastructure and configuration, which is essential to operating the business.”
He adds that the new sublease space is fully furnished, which has allowed the tenant to begin operations quickly.
Cushman & Wakefield continues to market the remaining 83,220 square feet on behalf of Nestle, which previously occupied the building. Space available for sublease includes the entire second floor, which is fully furnished, has a dedicated entrance and multiple branding opportunities, O’Keefe adds.