X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RIDGEFIELD PARK, NJ-Agfa-Gevaert Group has renewed its lease for a total of 88,147 sf of office space at 100 Challenger Rd. here. The Hartz Mountain Industries-owned building is within that company’s Overpeck Centre, a multi-building corporate campus.

The signing also marks two decades of Agfa’s occupancy of the building. Terms of the lease were not disclosed.

“Lease renewals are becoming the sign of a tightening market,” says Emanuel Stern, president and COO of the Secaucus-based Hartz. “New activity in the Northern New Jersey marketplace has been moderately strong, and as a result of the improving occupancy, existing tenants in the market are left with few local options. Ultimately, we may see this becoming a more dominant force that will continue to drive leasing rates.”

The building at 100 Challenger Rd. is virtually leased up, and Hartz is focusing on the 61,000 sf that remains available at the neighboring building at 65 Challenger Rd. The latter, at 167,000 sf, is similarly sized as 100 Challenger Rd. The 60-acre Overpeck Centre, meanwhile, has a build-out capability of about one million sf, and current major tenants besides Agfa-Gevaert include Summit Bank, Daewoo, Samsung and Degussa. A Hilton Garden hotel is slated to open within the campus in the spring of 2007.

The Agfa-Gevaert Group develops, produces and distributes a range of analog and digital imaging systems and IT solutions, primarily for the printing industry and the health care sector. Its business groups are Agfa Graphics, Agfa HealthCare and Agfa Specialty Products, and its parent company is based in Mortsel, Belgium.

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.