X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SECAUCUS, NJ-North Fork Bank has signed a lease for 66,031 sf at Hartz Mountain Industries’ 425 Meadowland Parkway here. One of the fastest growing financial institutions in the tri-state area with a couple of recent acquisitions, North Fork will use the space to expand its check-processing capacity and as a back-office operation.

The signing was complicated, including both a sublease with the building’s current tenant, CBS Viacom, which is cutting back on its space use in the region. Also part of the transaction is a long-term lease extension with the locally based Hartz. Jaime M. Weiss and Ronald Blaufelder of the Moonachie-based Weiss Realty represented North Fork, and John Jay Garibaldi of the Chatham-based Garibaldi Group spoke for CBS Viacom.

The locally based Hartz was represented in-house. Terms of the transaction were not disclosed. “The fact that the CBS Viacom space was absorbed so quickly demonstrates the viability of the Meadowlands office market,” says Hartz president and COO Emanuel Stern. “North Fork recognized the value of the location and its ability to serve the tri-state region.”

“Timing was a critical element in this situation,” says Weiss. “North Fork, having recently acquired the Trust Co. of New Jersey, and having also announced its merger with GreenPoint Financial Corp., needed immediate space to serve the check processing and back office needs of more than 350 metropolitan New York, New Jersey and Connecticut branches.

“This location offers proximity not only to their current northern New Jersey and New York City branches, but also those in Rockland and Westchester counties in New York, “Weiss says.

The building itself features a raised floor, back-up generator and UPS room, according to Stern. Besides access to the Lincoln Tunnel and George Washington Bridge to Manhattan, it’s also near the Federal Reserve Bank of New York in Rutherford.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.