Both the tenant and the owner were represented in the signing by brokers from Binswanger/Klatskin, based in Teterboro. On the tenant side, Frederic Lipton, senior vice president, and associate Alex Previdi represented Tribeca Oven. David Knee and Robert Kossar, executive vice presidents, and Chris Hile, vice president, spoke for AMB. Terms of the signing were not disclosed.
For the tenant, the signing represents a major expansion of its operations. The company, which bakes bread for distribution to such retailers as the Kings and D'Agostino's supermarket chains in New Jersey and New York, as well as such restaurants as the famed Peter Luger's Steak House in Brooklyn, is moving to New Jersey from its existing 19,000-sf facility in Brooklyn.
"Tribeca Oven was able to triple their production capacity with this lease," Lipton tells GlobeSt.com. "They had been seeking a larger facility."
And Tribeca Oven follows yet another bakery operation into AMB's building. Previous tenant Ecce Panis is itself relocating to an even larger facility, a 90,000-sf building in East Brunswick. Lipton was involved in that transaction as well: he and Chuck Fern of Binswanger/Klatskin's Edison arranged the lease transaction for Ecce Panis.
"Tribeca Oven will be able to move into a modern bakery facility already set up with equipment purchased from the previous tenant, Ecce Panis," Lipton says. "This highly complex transaction, including the sale of the equipment, required cooperation from Ecce Panis, AMB and Tribeca Oven," Kossar adds.
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