Newmark Associates Inks 10 Year Lease of 35,700 SF Flex Warehouse Space in Morris County
Cedar Knolls, N.J., January 7, 2018 – Newmark Associates CRE announced the leasing of approximately 35,700 SF of flex warehouse space in an industrial park at 2 Laurel Drive in Flanders, New Jersey, located in Mt. Olive Township in Morris County.
Vice President Bill Cunningham inked the transaction after a two year search for the new tenant, Epiqure Foods Corporation, an importer of cheese and related products internationally and distributor throughout the United States.
Newmark Associates, known for its consistency and persistence in identifying and aligning clients’ strategic business, financial and operational objectives with real estate requirements, represented both the tenant and the lessor, Saddleback Realty. A 10 year lease was executed on December 20, 2018.
Commenting on the history of Newmark’s relationship with the tenant, Mr. Cunningham said: “Epiqure is a privately-held, 30 year-old family business now operated by the founder’s daughter and son. We started two years ago looking for buildings with high ceilings in the Essex County area. Finding none, we then looked for land on which to build a 30,000 SF building. When their need to move from their former location became urgent, we fortunately found 2 Laurel Drive, meeting all of the tenant’s essential requirements for ceiling height and refrigeration.”
Built in 1986 on 7.2 acres of land, the property houses a refrigerated building with ceiling heights of approximately 19-22 feet, and comprised of divisible, flex units, with mostly warehouse space and loading areas. The tenant is installing 30,000 SF of new refrigeration units while the owner is fitting out 4,000 SF of customized office space. The fit out will take approximately two to three months before Epiqure can move operation into the building.
With direct access to Route 206, the property is also in close proximity to Routes 46,10, 80, 78 and 287 and within a 45 minute drive to Newark Liberty International Airport.
Bill Cunningham, Vice President and part of the sales team at Newmark Associates since 1993, specializes in Industrial and Office Leasing and Sales, and Land Sales, primarily in Morris, Sussex and Essex Counties. Susanne Newmark, founder and President of Newmark Associates, remarked: “Bill is a consummate professional. His market knowledge and dedication to his clients are exemplary with integrity and attention to detail demonstrated in every project he undertakes. I am honored to be working with him.”
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.