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RAMSEY, NJ-Commerce Bank North has subleased 16,823 sf at 535 E. Crescent Ave. here, which the company intends to use as its expanded headquarters. CBN is moving to the new location from its existing nearby facility. The lease carries an aggregate rental of $2.2 million for a 10-year term.

The sublessor is the Pezrow Cos., a grocery store supplier that had used it for administrative purposes. The transaction was arranged for both Pezrow and building owner the Wilson Cos. by the Jaime M. Weiss Realty Co. John Silverstein of Interstate Commercial Real Estate represented Commerce Bank North.

In 1996, the Weiss organization had arranged a sale-leaseback of the entire 76,000-sf building for Pezrow, with Wilson as the buyer. Pezrow has continued to occupy more than half of the building, which is located just off a Route 17 interchange, but recently put the 16,823-sf block on the market as surplus space.

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