Meadows Complex Inks 55,000 SF of Renewals

Nice Systems, a consulting firm for the enterprise, public safety and security markets, renewed and expanded to a total of 30,000 sf. Ownership was represented by Rob Fisher and Susan Lulla of Lincoln Equities Group, while the tenant was represented by Mark Weiss of Newmark Knight Frank.

AXS-One, a provider of records compliance management solutions, renewed its lease for 25,000 sf. Fisher and Lulla once again represented the ownership, while the tenant was represented by Marc Trevisan and Brad Fenlon of CB Richard Ellis.

The building is owned by Onyx Equities and Invesco Real Estate. As reported by GlobeSt.com, Onyx and Invesco bought it in early 2005 as part of a four-building portfolio acquisition from a partnership of Investcorp, Crow Holdings and Lincoln Equities, with the latter staying on to manage the property. Onyx and Invesco subsequently launched a capital improvement program, which was completed earlier this year.

"The capital improvement program is a key factor in being able to retain the long-term tenants," Fisher says. "And with the recent new lease signed by AON Consulting, these renovations are also playing a key role in attracting new tenants."

As reported by GlobeSt.com, AON signed on for a total of 15,205 sf in March, with the employee benefits firm relocating its regional office from a nearby location. The various signings leave one full-floor leasing opportunity remaining at the property, the entire 25,320-sf penthouse unit. The opportunity also provides the ability for a company to put its name on the top of the 12-story facade, according to Fisher, a sign that would be visible from the New Jersey Turnpike, Route 3 and Giants Stadium.