Onyx Sells Meadows Office Complex

RUTHERFORD, NJ—Onyx Equities has sold The Meadows office property at 201 and 301 Route 17 North, Rutherford, NJ, to Meadows Landmark, a Delaware limited liability company. Terms of the sale were not disclosed.

Newmark Grubb Knight Frank executive managing directors Timothy R. Greiner and Frank D. Recine, managing director Blake J. Goodman and director Jamie Ragucci will continue to act as leasing agents for Meadows Landmark. American Landmark Properties has assumed management for Meadows Landmark.

“The excitement of the development in the area and the proximity to Manhattan is what attracted us to the building,” says Barbara Carley, vice president of American Landmark Properties. The rapid rate at which the property has reached 92% of its leasing capacity is reflective of the desirability of the location. In addition, the accessible New Jersey space leases at nearly one-third the price of similar New York City offices.

The Meadows is a Class A office property with 600,000 square feet of space across two towers. Located in the Meadowlands submarket, The Meadows' location provides direct access to Manhattan and the rest of the region. The 19.8-acre campus occupies a four-way interchange at the intersection of Routes 3 and 17, minutes from Route 80, The Garden State Parkway, the New Jersey Turnpike and the Lincoln Tunnel. Upper floors of each twelve-story tower offer views of Manhattan.

Amenities include a conference center, full-service cafeteria, café, sundry shop, on-site security, daycare center and WIFI connectivity throughout the public outdoor landscaped plaza, complete with a sitting area and water feature. Major companies located here are Sony, SGS and Shiseido Cosmetics USA.

Meadows Landmark LLC has made investments in major capital improvements to position the property as an environmentally friendly facility, with features such as parking spaces that will soon offer electric charging stations and new fixtures throughout common spaces for improved water and electric efficiency. In addition, ownership plans to utilize recycled materials in the build-out of several spec units, becoming one of the only buildings in the area that will have these prebuilt suites available.

The buildings have undergone lobby and bathroom renovations, parking lot repaving, and have updated signage. Interior improvements were also made to the cafeteria, lobby and fitness center. On the upper floors, the elevator cabs, lobby landings and bathrooms are newly-renovated. The on-site shuttle service was expanded and now makes stops directly at Secaucus Junction Transfer Station.