Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CLIFTON, NJ-A global manufacturer has leased an entire 230,953-square-foot building here. Representing the landlord, the Morris Cos., was a team of brokers from Cushman & Wakefield led by director Stephen Elman.

Elman declined to name the tenant, which was represented by Thomas Carragher and Dan Foley of Studley. Calls to Carragher were not returned by deadline. Other members of the C&W team were Stan Danzig, Noah Balanoff and Robert Adams, all based in the East Rutherford office of C&W.

Located at 261 River Rd., the building was built in 2004 as the corporate offices and distribution center for EK Success. The previous tenant’s lease was expiring, according to Elman.

The facility offers 32,996 square feet of corporate offices, 4,364 square feet of warehouse/office facilities and 193,593 square feet of warehouse/distribution space. Other amenities include: 25 cross-dock tailgates, two drive-in doors, ESFR sprinklers, 2,000 amps of power, roof-mounted heating units and signage visible from Route 3. The property offers immediate access to Route 3 and proximity to Routes 21 and 17, the New Jersey Turnpike and Garden State Parkway.

Elman tells GlobeSt.com that the lease price represents a market-rate transaction, although he declined to give a specific number. A Q2 report from C&W pegs the Passaic County manufacturing rental rate at $3.79 a square foot.The tenant is relocating from locations in Newark, Elizabeth and Secaucus. Elman says that those three sites totaled under 230,000 square feet. “They thought it would be more efficient to operate in one facility.”

Elman notes that three other firms were interested in leasing the property. “Tenants are realizing that now is good time to commit to quality real estate at competitive pricing,” he says.Elman adds that since the building is only five years old, it’s in “great shape,” and no concessions were dangled to get the tenant to sign.

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?


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.