"For most landlords, the location and amenities package alone would be enough to have them sit back and wait for the market to come to them," says David Simson, president of GVA Williams NJ, Parsippany, who's part of the property's leasing team. The complex is at the intersection of I-80 and the New Jersey Turnpike, and the amenities package includes the attached 350-room Marriott at Glenpointe Hotel and Conference Center and the 26,000-sf Spa and Glenpointe. The property also includes a 164-unit residential community.
GVA Williams NJ EVP Frank Gunsberg is also part of the leasing team with Simson, joining the Hackensack, NJ-based Sanzari's in-house crew of leasing director Jerry Barta, VP Frank Pratt and CFO John Colardi. The property is currently listed with availabilities totaling about 140,000 sf, most of that in the 330,000-sf Glenpointe West building. The asking price is listed as $35 per sf plus TE.
The start of the renovation project follows a year-long planning process, according to Sanzari officials. The property recently saw a major lease signing when the law firm DeCotiis, Fitzpatrick, Cole & Wisler took nearly 51,000 sf at Glenpointe West.
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