The Offices at Crystal Lake is unusual in this--and most--markets, currently, in that it was developed on spec. The developer/owner is Offices at Crystal Lake LLC, an Essex County-based group of developers and investors, with B.N.E. Associates as the managing partner. In the transaction, the owner was represented exclusively by David Simson, president; Bryn Cinque, first vice president; and assistant director Colton Brown of GVA Williams of NJ, Parsippany. The tenant was represented by Jackie Rowe of Cushman & Wakefield of NJ, East Rutherford.
"This is a consolidation that allows Wolff & Sampson to operate on two contiguous floors," Jeffrey Schotz, executive managing director for GVA Williams tells GlobeSt.com. "It also gives them the kind of expansion opportunities that a firm of this size and stature will need for the future."
With the move, which will take place shortly, Wolff & Sampson will increase its HQ space by about one-third from the firm's current home base. Besides its main office in Roseland, the firm has offices in Hackensack and Atlantic City, NJ and New York City.
As far as the remaining space at The Offices at Crystal Lake, three units ranging from 10,000 to 24,000 sf remain available at the property – but perhaps not for long. "We have activity on all of the space," according to Schotz. "I don't want to suggest that we're about to sign a deal, but we do have activity. One of potential users is a Wolf & Sampson contractor that may benefit from being in closer proximity to the firm.
"In a market that we're in today, where there is a dearth of velocity in the marketplace, to have a prestigious firm like Wolff & Sampson recognize the benefits of this building and its location is great," Schotz tells GlobeSt.com, referring to the fact that the property is located at a four-way interchange of I-280.
The transaction is also "one of the largest deals that has been done in Essex County in the last year or 18 months," according to Schotz. "Certainly, it's one of the largest deals done in suburban Essex County."
Essex County, of course, is the geographical home of Newark, the Garden State's largest city. West Orange is located just west of Newark.
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