David Sherman, Marc Trevisan and Dan Johnsen of Cushman & Wakefield's East Rutherford office represented Maxell in the site search and lease negotiation process. An affiliate of Mountain Development Corp. owns the 126,053-square-foot building, which is part of the three-building Garret Mountain campus. While the firm would not release the rental rate, prices in Union County are $26.64, according to internal research.
The Cushman & Wakefield team also orchestrated a lease termination at the Fair Lawn property as part of the assignment. "Maxell took advantage of current market conditions by exploring opportunities that would enable the company to upgrade its corporate headquarters image and amenities," says Johnsen. "Three Garret Mountain Plaza's strong ownership and appealing location made it a logical choice."
Johnsen notes that Maxell looked at properties within a 10-mile radius of its current headquarters operation. The Woodland Park property sits just off Exit 56 of I-80, with access to the Garden State Parkway, and routes 19, 46 and 3. Onsite conveniences include a cafeteria, bank and covered parking.
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