X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HACKENSACK, NJ-Pinnacle Wireless is about to get a new home. The two-way radio and wireless communications system integrator has leased the entire building at 80 Commerce Way, a 30,000-sf flex building that is owned by Prism Capital Partners. Pinnacle will relocate its headquarters here from the company’s current location in Upper Montclair, a move that is expected to be completed this summer

The deal was arranged for the landlord by Michael Schaible of Jones Lang LaSalle’s Hasbrouck Heights office, who has the leasing exclusive for the property. The tenant was represented by Richard Van Houten of the Van Houten Group, Allendale, NJ. Terms were not released. Space available in the companion 60 Commerce Way building is currently listed with an asking price of $8 to $15 per sf, triple-net.

Both 60 and 80 Commerce Way, which combined total 73,000 sf, were acquired by a partnership headed by Prism Capital Partners in 2005. The property, once entirely occupied by Quest Diagnostics, subsequently underwent a $1.5-million redevelopment that included a new façade and infrastructure, including mechanical and roof upgrades.

The 43,000 sf comprising 60 Commerce Way currently remains vacant and on the market for lease. High-tech, office and lab users are the primary targets, and the building comes with as-of-right zoning for up to 20% of its space, or about 8,600 sf, available for retail use.

“The property’s location, adjacent to Route 4, continues to draw significant interest from potential tenants,” says Prism Capital Partners’ principal partner, Edwin Cohen. “Pinnacle Wireless reflects the caliber of tenants that continue to express interest in 60 Commerce Way.”

New tenant Pinnacle Wireless, founded in 2001, specializes in large-scale communications for transportation, public safety, entertainment, hospitality and enterprise-grade commercial real estate. The move to 80 Commerce Way represents an expansion for the company.

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

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