"Overall, deals are still getting done in the commercial realestate market," Perkins tells GlobeSt.com, "but in order to besuccessful, all parties involved in the lease negotiation processmust exercise creativity and flexibility in order to overcome theobstacles that have been created by this economic downturn."

In this specific transaction, NAI advised its client, who hasbeen a tenant in the building since 2003, to renew their existinglease early, while taking into consideration favorable marketconditions. "This quality asset, due to its centralized location,satisfies Swift's current operational needs, coupled with itscompetitive price and the importance and stability of having areputable company such as KTR Capital Partners as a landlord,"Perkins adds.

Built in 1966 and situated on a 10-acre parcel of land, 100Hollister Rd. is a 175,000-square-foot office building, located inBergen County.