Deal Tracker: A Roundup of Recent Leases and Market Moves

NEW JERSEY—Here is a roundup of recent smaller deals and other transactions in the New Jersey market, along with some exclusive agency assignments and executive moves.

Leases

TEANECK, NJ—Cargill Incorporated, the global food, agricultural, financial and industrial products company, has renewed its 4,800-square-foot northeast headquarters lease at Glenpointe Centre West in Teaneck, NJ. Located at 500 Frank W. Burr Blvd.,Glenpointe Centre West is part of the mixed-used Glenpointe complex, owned and developed by Alfred Sanzari Enterprises of Hackensack, NJ. The transaction was negotiated in-house by Alfred Sanzari Enterprises. Don Sperling of CBRE represented Cargill.

RUTHERFORD, NJ—Aarkish Pharmaceuticals signed a 10-year lease at 15 Gardner Road in Fairfield, NJ. Newmark Grubb Knight Frank associate director Trevor Patterson represented the tenant in the transaction, which was valued at $1.1 million. 15 Gardner Road—a single-story industrial warehouse-style building—displays a classic brick façade, several large windows and 22-foot ceilings that allow for maximum natural light. The property is approximately 30,000 square feet, of which Aarkish Pharmaceuticals will occupy 14,698 square feet. The property also offers convenient highway access, with proximity to the Garden State Parkway, I-80, I-287 and Route 46. The property is owned by Prologis.

HAZLET and HOWELL TOWNSHIP, NJ—Tim Hortons, the Canadian quick service restaurant chain best known for its coffee and donuts, with over 4,500 locations worldwide, is opening its first two New Jersey locations in Hazlet and Howell Township, according to Chuck Lanyard, president of The Goldstein Group, whose vice president, Mark Handwerker, arranged the two leases. In Hazlet, Tim Hortons leased 3,600 square feet at Chelsea Place, 3250 Route 35. The center is a prime retail site in a densely populated marketplace with excellent highway access and visibility. Neighboring tenants include Super Foodtown, Pathmark, K-Mart, Toys R' Us, Bank of America, Verizon, Aldi, and McDonald's. consummated the deal on behalf of the landlord and tenant. In Howell, Tim Hortons leased 2,300 square feet at 2501 Route 9. It's a prime retail site with a daily car count of over 45,000 vehicles. Neighboring tenants of the location include 7-Eleven, Wawa, Chase Bank, Home Depot and Wells Fargo.

Exclusive Agencies

LAWRENCEVILLE and FORT LEE,NJ—Vision Real Estate Partners continues to grow its Vision Management portfolio with the addition of two class A New Jersey office assets. The firm has joined one of its repeat capital partners to provide asset management, property management and operational support for Princeton Pike Corporate Center in Lawrenceville and 9W Office Center in Fort Lee. The eight-building, 817,000-square-foot, Princeton Pike Corporate Center is more than 90 percent leased, with high-profile tenants including Sirius XM Radio, Morgan Stanley, Wells Fargo Advisors, Stark & Stark, Princeton Healthcare Services, Fox Rothschild, and MetLife Solutions Group, among others. With the addition of 9W Office Center, Vision Real Estate Partners has made its entry into Bergen County. The 215,000-square-foot, seven-story class A office building – also recently renovated – at 2200 Fletcher Ave. is 96 percent occupied.

PARAMUS, NJ–Colliers International is marketing a 35,000-square-foot office space at 461 From Road in Paramus, NJ on behalf of NICE Systems, which is consolidating its Paramus and New York offices in Hoboken. The class-A space has almost seven years remaining on its lease. It includes three conference rooms with seating for 60, a kitchen with break areas and 137 parking spaces with 14 exclusively reserved for any tenant that subleases the space. The building — also known as Mack-Cali Centre VI — is located at the intersection of Route 17 and Midland Avenue, with proximity to I-80, Route 4, and the Garden State Parkway. Among its features are on-site property management and complimentary Wi-Fi in the lobby, café, and courtyard. The property is within walking distance to the Paramus Park Mall, restaurants, the Radisson Hotel, and World Gym Paramus, while additional retail and hotels are within a short driving distance.

Executive Moves

ASBURY, NJ—Craig Cetta has joined J.G. Petrucci Co. as a project executive. Cetta is involved in multiple phases of real estate development as it pertains to the design/build process. He reviews the operation of the company's real estate assets and provides financial analyses for each partnership and joint venture structure. Craig was previously a senior analyst at Colliers International where he focused on New Jersey capital markets and investment sales transactions. Craig also assisted with managing the due diligence process, the preparation and presentation of investment memoranda, and RFP responses.

HACKENSACK, NJ—Alfred Sanzari Enterpriseshas promoted two property management staffers. Erin Mays was named assistant property manager for Heights Plaza, a 200,000-square-foot, class A office building in Hasbrouck Heights, and the 68,000-square-foot Elmwood Park Plaza in Elmwood Park, and Greg Drelich has been named senior building tech for two properties – the 335,000-square-foot Court Plaza office complex, and the 84,000-square-foot Alfred N. Sanzari Medical Arts Building, both in Hackensack.

MORRISTOWN, NJ–MariaGrace Iantosca of Manalapan, NJ, has joined Cushman & Wakefield as an associate in the firm's Morristown office. The recent Monmouth University graduate is focusing on tenant and landlord representation, and national account management, working with a seasoned brokerage team led by Bill Brown and Ben Brenner. Iantosca previously served as a commercial brokerage intern at Zimmel Associates, and as a marketing intern at Freehold Center Management Corporation. She holds a bachelor's degree in business administration with a concentration in real estate. She is working on Cushman & Wakefield leasing agency assignments in Basking Ridge and Parsippany.

RUTHERFORD, NJ—Aarkish Pharmaceuticals signed a 10-year lease at 15 Gardner Road in Fairfield, NJ. Newmark Grubb Knight Frank associate director TrevorPatterson represented the tenant in the transaction, which was valued at $1.1 million. 15 Gardner Road—a single-story industrial warehouse-style building—displays a classic brick façade, several large windows and 22-foot ceilings that allow for maximum natural light. The property is approximately 30,000 square feet, of which Aarkish Pharmaceuticals will occupy 14,698 square feet. The property also offers convenient highway access, with proximity to the Garden State Parkway, I-80, I-287 and Route 46. The property is owned by Prologis.

NEW JERSEY—Here is a roundup of recent smaller deals and other transactions in the New Jersey market, along with some exclusive agency assignments and executive moves.

Leases

TEANECK, NJ—Cargill Incorporated, the global food, agricultural, financial and industrial products company, has renewed its 4,800-square-foot northeast headquarters lease at Glenpointe Centre West in Teaneck, NJ. Located at 500 Frank W. Burr Blvd.,Glenpointe Centre West is part of the mixed-used Glenpointe complex, owned and developed by Alfred Sanzari Enterprises of Hackensack, NJ. The transaction was negotiated in-house by Alfred Sanzari Enterprises. Don Sperling of CBRE represented Cargill.

RUTHERFORD, NJ—Aarkish Pharmaceuticals signed a 10-year lease at 15 Gardner Road in Fairfield, NJ. Newmark Grubb Knight Frank associate director Trevor Patterson represented the tenant in the transaction, which was valued at $1.1 million. 15 Gardner Road—a single-story industrial warehouse-style building—displays a classic brick façade, several large windows and 22-foot ceilings that allow for maximum natural light. The property is approximately 30,000 square feet, of which Aarkish Pharmaceuticals will occupy 14,698 square feet. The property also offers convenient highway access, with proximity to the Garden State Parkway, I-80, I-287 and Route 46. The property is owned by Prologis.

HAZLET and HOWELL TOWNSHIP, NJ—Tim Hortons, the Canadian quick service restaurant chain best known for its coffee and donuts, with over 4,500 locations worldwide, is opening its first two New Jersey locations in Hazlet and Howell Township, according to Chuck Lanyard, president of The Goldstein Group, whose vice president, Mark Handwerker, arranged the two leases. In Hazlet, Tim Hortons leased 3,600 square feet at Chelsea Place, 3250 Route 35. The center is a prime retail site in a densely populated marketplace with excellent highway access and visibility. Neighboring tenants include Super Foodtown, Pathmark, K-Mart, Toys R' Us, Bank of America, Verizon, Aldi, and McDonald's. consummated the deal on behalf of the landlord and tenant. In Howell, Tim Hortons leased 2,300 square feet at 2501 Route 9. It's a prime retail site with a daily car count of over 45,000 vehicles. Neighboring tenants of the location include 7-Eleven, Wawa, Chase Bank, Home Depot and Wells Fargo.

Exclusive Agencies

LAWRENCEVILLE and FORT LEE,NJ—Vision Real Estate Partners continues to grow its Vision Management portfolio with the addition of two class A New Jersey office assets. The firm has joined one of its repeat capital partners to provide asset management, property management and operational support for Princeton Pike Corporate Center in Lawrenceville and 9W Office Center in Fort Lee. The eight-building, 817,000-square-foot, Princeton Pike Corporate Center is more than 90 percent leased, with high-profile tenants including Sirius XM Radio, Morgan Stanley, Wells Fargo Advisors, Stark & Stark, Princeton Healthcare Services, Fox Rothschild, and MetLife Solutions Group, among others. With the addition of 9W Office Center, Vision Real Estate Partners has made its entry into Bergen County. The 215,000-square-foot, seven-story class A office building – also recently renovated – at 2200 Fletcher Ave. is 96 percent occupied.

PARAMUS, NJ–Colliers International is marketing a 35,000-square-foot office space at 461 From Road in Paramus, NJ on behalf of NICE Systems, which is consolidating its Paramus and New York offices in Hoboken. The class-A space has almost seven years remaining on its lease. It includes three conference rooms with seating for 60, a kitchen with break areas and 137 parking spaces with 14 exclusively reserved for any tenant that subleases the space. The building — also known as Mack-Cali Centre VI — is located at the intersection of Route 17 and Midland Avenue, with proximity to I-80, Route 4, and the Garden State Parkway. Among its features are on-site property management and complimentary Wi-Fi in the lobby, café, and courtyard. The property is within walking distance to the Paramus Park Mall, restaurants, the Radisson Hotel, and World Gym Paramus, while additional retail and hotels are within a short driving distance.

Executive Moves

ASBURY, NJ—Craig Cetta has joined J.G. Petrucci Co. as a project executive. Cetta is involved in multiple phases of real estate development as it pertains to the design/build process. He reviews the operation of the company's real estate assets and provides financial analyses for each partnership and joint venture structure. Craig was previously a senior analyst at Colliers International where he focused on New Jersey capital markets and investment sales transactions. Craig also assisted with managing the due diligence process, the preparation and presentation of investment memoranda, and RFP responses.

HACKENSACK, NJ—Alfred Sanzari Enterpriseshas promoted two property management staffers. Erin Mays was named assistant property manager for Heights Plaza, a 200,000-square-foot, class A office building in Hasbrouck Heights, and the 68,000-square-foot Elmwood Park Plaza in Elmwood Park, and Greg Drelich has been named senior building tech for two properties – the 335,000-square-foot Court Plaza office complex, and the 84,000-square-foot Alfred N. Sanzari Medical Arts Building, both in Hackensack.

MORRISTOWN, NJ–MariaGrace Iantosca of Manalapan, NJ, has joined Cushman & Wakefield as an associate in the firm's Morristown office. The recent Monmouth University graduate is focusing on tenant and landlord representation, and national account management, working with a seasoned brokerage team led by Bill Brown and Ben Brenner. Iantosca previously served as a commercial brokerage intern at Zimmel Associates, and as a marketing intern at Freehold Center Management Corporation. She holds a bachelor's degree in business administration with a concentration in real estate. She is working on Cushman & Wakefield leasing agency assignments in Basking Ridge and Parsippany.

RUTHERFORD, NJ—Aarkish Pharmaceuticals signed a 10-year lease at 15 Gardner Road in Fairfield, NJ. Newmark Grubb Knight Frank associate director TrevorPatterson represented the tenant in the transaction, which was valued at $1.1 million. 15 Gardner Road—a single-story industrial warehouse-style building—displays a classic brick façade, several large windows and 22-foot ceilings that allow for maximum natural light. The property is approximately 30,000 square feet, of which Aarkish Pharmaceuticals will occupy 14,698 square feet. The property also offers convenient highway access, with proximity to the Garden State Parkway, I-80, I-287 and Route 46. The property is owned by Prologis.