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HACKENSACK, NJ – The Learning Center has inked a development and lease agreement with Denholtz Associates at the latter’s Two University Plaza office building here. The Rahway, NJ-based Denholtz will build a 12,500-sf daycare facility at the property, and will provide an additional 5,000 sf for an outdoor play area for the center. The Learning Center has also signed a long-term lease, terms of which were not released.

Office availabilities at the building totaling 6,500 sf are currently listed with an asking price of $25 per sf. “This is an example of how we maximize the value of our development sites,” says Steven Geltzeiler, director of leasing for Denholtz, which arranged the transaction.

Built in 1976, Two University Plaza is a six-story, 143,000-sf office building near I-80 and Route 4 in this Bergen County seat. The Learning Center, based in Parsippany, NJ, meanwhile, currently has about 80 sites under development, most of them in the Northeast.

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