Steady Leasing Continues at Premier Morris County Portfolio
Newmark Associates CRE, has been appointed to exclusively represent a 410,000-sf premier portfolio consisting of office and flex buildings in Cedar Knolls. Current availabilities within the portfolio owned by EI Realty include medical and professional office suites located at 2 Ridgedale Avenue, 3 Wing Drive and 14 Ridgedale Avenue.
Helene Elbaum, Executive Vice President and Courtney Rosenkranz, Senior Sales Associate have been appointed as the leadership team bringing both the experience and enthusiasm to the marketing of the portfolio. Both Ms. Elbaum and Ms. Rosenkranz have demonstrated expertise in the leasing of properties across the Morris County area.
While the past year has been a challenging one, Newmark continues to lease the available space at a steady pace during these unprecedented times. “EI Realty has stepped up as one of the most aggressive dealmakers in the Morris County market. We are privileged to exclusively represent EI Realty as a premier Landlord who provides not only a professional and creative approach to leasing, but are dealmakers in the market”, commented Helene Elbaum, Executive Vice President at Newmark Associates. “Along with Guy Cipriano, the Landlord at EI Realty and EI’s Director of Leasing, Thomas Semler, we have signed several leases and lease renewals this past year throughout the portfolio.” Courtney Rosenkrantz, Senior Sales Associate at Newmark Associates further stated, “EI Realty enabled us to create many opportunities & lease incentives for prospective tenants. We expect the interest in the EI Portfolio to continue as the year progresses and people are more comfortable returning to the workplace.”
“We have worked with the Newmark Associates team for the past five years at our mixed-use business park. Their ability to quickly solve problems and provide expert market knowledge has contributed to the success of a 93% occupancy rate at our business park. We enjoy a much-valued relationship.”, commented EI Realty’s Landlord Guy Cipriano.
Since 1964, EI Realty has developed the land that is now home to seven properties in Cedar Knolls, totaling 410,000 SF. Further, EI Realty’s portfolio of properties includes fifteen office buildings, seven flex industrial buildings and a 400-unit apartment complex at other locations in NJ and PA. All of EI Realty’s properties are designed, built and are managed by the firm. EI Associates, an architecture/engineering/construction company was formed in 1944. They employ a staff of 150 in their offices in Cedar Knolls, NJ and Harrisburg, PA. They have been ranked annually in the top 400 Giants by Engineering News Record since 1967.
Newmark Associates CRE, located in Cedar Knolls, New Jersey, has earned recognition as one of the top real estate brokerage companies by 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.