NEWMARK INKS 20,000 SF LEASE TO
Cedar Knolls, N.J., June 25, 2021 – Newmark Associates CRE, LLC, announced the recent lease of an industrial flex building in Morris County.
Located at 17 West Street, East Hanover, New Jersey, the property consists of a one-story, standalone, industrial flex building with approximately 20,000 SF of vacant space owned by a longstanding client of Newmark, Commerce Park Investors II, LLC. The building was leased to Pharmvista LLC., a leading manufacturer and distributor of dietary supplement capsules and gummy bears.
Deborah Myers, Managing Director, representing both the landlord and tenant, remarked upon Newmark’s relationship to both parties: “For over 20 years I have represented this landlord whose willingness to listen, be creative, and understand the tenant requirements and find solutions to achieve everyone’s goals made for a smooth transaction.”
Also describing Newmark’s history with the tenant, Ms. Myers commented: “I brought this tenant to the landlord several years ago, when the tenant was looking for his first location in the U.S. Finding that certain installations were already in place for his pharma operation, he established his business in East Hanover and has since expanded into other nearby locations with the same landlord, including this latest lease.”
Situated within a mile radius of shopping, restaurants and post office near Route 10, the building was constructed in 1968 and features 3 loading docks, 14’ ceiling heights, air conditioning, 40 onsite parking spaces, 24/7 access, and an onsite property manager.
Ms. Myers spoke of the transaction relevant to the current market trend: “Industrial Flex space is in such high demand now that when a building/space comes on the market, the need for velocity from all parties is critical in securing the space and bringing the transaction to fruition.” She has represented several industrial flex complexes and leased 17 units ranging in size from 1,200 to 20,000 SF in the last 60 days.
Ms. Myers can be reached via email at firstname.lastname@example.org or via cell phone at 973. 493. 8508.
Newmark Associates CRE, located in Cedar Knolls, New Jersey, celebrates more than 30 years in the commercial real estate industry as one of the top brokerage companies in the state, and recognized repeatedly with awards by both NJBIZ magazine, and the CoStar Commercial Real Estate organization. Specializing in lease and sales transactions of office, industrial, retail, land, healthcare and mixed-use properties, Newmark Associates customers range from regional, entrepreneurial firms to Fortune 500 companies. Certified as a woman-owned business by the Women’s Business Enterprise National Council, Newmark Associates is registered as a Supplier Diversity provider with corporate members.