Proprietor Lionstone Capital Administration has signed 4 leases on the two-building Park 80 West workplace middle in Saddle Brook, N.J. CBRE organized the expansions, renewal and new lease offers, totaling roughly 65,000 sq. ft. Lionstone bought the Class A workplace park from CBRE International Buyers for $115.5 million within the fall of 2018.
The newest spate of transactions features a 24,742-square-foot lease enlargement and extension at Plaza I, inked by Japanese Concrete Supplies. Van Houten Company Realty represented the tenant, which can solely occupy the fifth flooring. Symrise Inc. can even stay within the constructing, following its 21,062-square-foot lease renewal on the second flooring, organized by JLL.
Turner Surety and Insurance coverage Brokerage—represented by CBRE’s Carl Eriksen—signed an settlement to occupy 6,823 sq. ft at Plaza I’s third flooring. Robert Half Worldwide renewed its 11,867-square-foot lease at Plaza II’s fifth flooring, with JLL engaged on behalf of the worldwide human assets consulting agency.
The 511,126-square-foot workplace park is situated at 250 Pehle Ave., on the junction of Interstate 80 and Backyard State Parkway, roughly 17 miles from Midtown Manhattan. The seven-story Plaza I and ten-story Plaza II buildings date again to 1971 and 1981, respectively, and are LEED Silver licensed, CommercialEdge knowledge exhibits. Park 80 West can also be dwelling to New York Life, Regus, Mass Mutual, Marsh & McLennan and JPMorgan Chase & Co.
CBRE’s Donald Sperling and Robert Norton represented the proprietor. Norton can also be a part of the staff overseeing leasing efforts on the Harborside mixed-use campus in Jersey Metropolis, N.J. Mack-Cali Realty Corp. is repositioning the 4.3 million-square-foot property alongside the Hudson River.
