MONTVALE, NJ-Mercedes-Benz has signed a lease for the entire facility at 50 Craig Rd. here. The automaker, which will use the 14,000-sf facility for engineering purposes, will substantially renovate the building to meet its operational needs.

Alexander Summer LLC, based in Paramus, NJ, represented building owner Premier Associates in the transaction. Premier Associates is an Englewood, NJ-based private owner of commercial and industrial properties. For the Summer organization, senior vice president Patricia Hutchins and vice president Chris Tichio arranged the deal.

On the tenant side, Mercedes-Benz was represented by Ronald Schrader of the Sitar co./ONCOR International, Woodbridge, NJ.

“Mercedes-Benz will benefit from the high-profile location of the building, as well as its close proximity to the company’s North American headquarters,” says Tichio. The company’s North American headquarters are located in multiple buildings in Montvale.

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