The tenant was represented in the re-signing by Marj Fujita, senior vice pesident, and Gregory Barkan, first vice president, of CB Richard Ellis in Saddle Brook, NJ. The owner of the building, East Meadow Corp., was represented by Cushman & Wakefield of New Jersey. Renewal terms were not released.
"The building was built exclusively for Toshiba nearly 20 years ago," Fujita says. "It's a first-class facility, and it remains an ideal location for Toshiba's North American operations."
"It meets their needs, and renewal was the right strategy from their financial and operational perspectives," Barkan says. "The location within the upper Route 46/23 industrial submarket provides a strategic advantage for Toshiba America."
Toshiba America's ongoing home is a class A flex building with a total of 50,000 sf of office space and 88,000 sf of warehouse and distribution space. Its features include a half-dozen loading docks and 22-foot ceilings.
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