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FAIRFIELD, NJ-The 46,401-sf former headquarters building of Prime Hospitality Corp. is on the market for lease. New York-based owner Blackstone Group has given the exclusive assignment to fill the asset to Newmark Knight Frank, with Frank D. Recine, director, and associate Blake J. Goodman of the firm’s Rutherford office handling the assignment.

Blackstone owns the building at 700 Route 46 East here as a result of its $790-million acquisition in late 2004 of Prime Hospitality, a company that controls several major hotel brands. Since then, according to Recine, Prime’s occupancy of the four-story building has been reduced to one floor.

“We are marketing the three vacant floors, or the entire building, as a mid-sized corporate headquarters, and it’s also divisible for multiple user,” Recine tells GlobeSt.com, noting that it has an internal spiral staircase connecting floors three and four. “It is particularly attractive to corporate entities seeking a headquarters location with an opportunity for major signage fronting Route 46.”

Besides Route 46, the building is also near Route 23, I-80 and I-287. Corporate neighbors include North Fork Bank, New England Financial, Covanta Energy and Bradley Pharmaceuticals. Blackstone is currently renovating its interior infrastructure and repositioning the adjoining restaurant, which connects the building to the Crowne Plaza Hotel.

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