X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SADDLE BROOK, NJ-Approximately 97,000 sf of new leases and renewals were signed recently at Park 80 West here. Cheryl Hardt, first vice president with CB Richard Ellis, represented the landlord, L&L Park 80 LLC in the transactions. Specific terms of the transactions were not disclosed.

The new tenants include NEC, which took 8,769 sf; Symrise, which will occupy 6,487 sf; and MT&T Bank, which will house its first New Jersey office in 6,783 sf. Circulite and Intranasal also signed on for 6,966 sf and 6,596 sf respectively.

In addition to the new leases, several current tenants signed renewals. These include FTI Consulting, which will remain in its 3,144-sf office; JBA Associates, which occupies 26,777 sf; Oppenheimer, which doubled its current space to 5,000 sf; Ameriprise, which has 14,000 sf; and Rotenberg Meril Solomon Bertiger & Guttilla PC, which has 14,353 sf.

Park 80 West is a two-building complex totaling 488,000 sf at the intersection of I-80 and the Garden State Parkway. Plaza I is an eight-story, 224,000-sf building and Plaza II has 11 floors and 264,000 sf. With the new commitments, Plaza I is now approximately 80% leased, and Plaza II is about 90% leased.

“There are two things that set us apart,” Hardt tells GlobeSt.com. “One is location—it’s a very central location. The other thing is that for service companies like us, it’s a great place for our clients to come, and it’s very easy for us to service clients because we can access all areas of the state and easily get into Midtown Manhattan, which is only 16 miles from here.”

According to Hardt, L&L is committed to regularly upgrading the property. The owners last renovated the common areas in the buildings three years ago and plan to renovate the common areas in certain spaces in the coming months. The property also offers several amenities, including WiFi in the lobbies and the on-site cafeteria, a coffee bar and a fitness center. Park 80 may also be adding LEED certification to that list. According to Hardt, the property has been registered for LEED and is currently undergoing review. Future plans for greening the buildings are hazy, but future retrofits will utilize materials advocated by the US Green Building Council.

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.