"This represents the first step in the owner's efforts to re-establish the property as the premier office property in Bergen County," says Greiner, who notes that the complex has several units of from 2,000 to 35,000 contiguous sf to be had and a total availability of about 90,000 sf. "The floorplates in all three buildings offer a variety of space options from 2,000 sf to two full floors of 16,250 sf and 22,500 sf," he says.
As reported by GlobeSt.com, Normandy, backed by financial partners Morgan Stanley and Wafra, bought the complex in 2004 from Stellar Management and Brack Capital Real Estate for $109 million, or about $167 per sf. Current tenants include GoAmerica, Motorola, the Schubert Organization/Telecharge, Rreef Funds and Alternative Investment Solutions. The latter two companies renewed their leases and expanded to full-floor occupancy just a year ago.
Located on 12 acres in this city's downtown area, Continental Plaza consists of the three buildings at 401, 411 and 433 Hackensack Ave. On-site amenities include a TGI Friday's restaurant and a multi-level parking structure, "and many new additions are planned," Greiner says.
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