Cushman & Wakefield to Lease Glenpointe in Teaneck

TEANECK, NJ- Alfred Sanzari Enterprises has named Cushman & Wakefield as leasing agent for its 650,000-square foot office component of the Glenpointe complex here. The assignment reunites C&W’s Richard Baumstein with Glenpointe – he was the property’s first leasing representative after its development in the mid-1980s. Some things, he says, haven’t changed about the project.

“When it was conceived and built, it was Northern New Jersey’s premier mixed-use complex,” Baumstein tells GlobeSt.com. “It was then. It is now.” The key, he says, is that Glenpointe has never changed ownership. “This building was developed, built and has been operated by the same people from Day One. That’s unusual in this country, let alone New Jersey,” Baumstein says.

Joined by Marc Graham and Christian Politan of C&W’s East Rutherford, NJ office, Baumstein will market spaces from 1,000 square feet to 63,000 square feet. Some 200,000 square feet is available at Glenpointe, which consists of three interconnected buildings, because of two large relocations in the last year.

The complex recently completed a $7 million upgrade, and is approved for an additional 230,000 sf of new construction. Asking rents for Glenpointe are $33 per square foot, Baumstein confirmed, with LoopNet noting regional area prices from $15 per square foot to $40 per square foot. Baumstein says he hopes to fill the complex within a year.

The project is located at the intersection of Interstates 80 and 95, and includes a health spa, 350-key Marriott hotel and conference center, and a 2,500-car garage. “Glenpointe is our signature property,” noted Jerry L. Barta, vice president and director, leasing and marketing at Alfred Sanzari Enterprises, in a press release. “It really is a cut above the term class A. It’s one of only a few true trophy properties in this part of New Jersey.”