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Prestigious Buildings Attract Range of Business Tenants

RUTHERFORD, NJ -, an Internet advertising firm, has subleased 13,000 square feet of space at One Evertrust Plaza, Jersey City, NJ, taking over space previously occupied by Depository Trust Company. Newmark Partners, Inc., represented the new tenant, in a deal that brings yet another "dot-com" business to one of New Jersey's most prestigious locations.

"This is a high-tech business, moving into a high-tech market," remarks Seena Stein, SIOR, President of Newmark Partners, who brokered the deal along with Managing Director Richard Madison. "We were lucky to find suitable space at One Evertrust Plaza, or anywhere in Jersey City, for that matter. We had to be on the ball -- use our market expertise and react quickly -- to present and obtain space for"

One Evertrust is a 17-story, 314,500-square-foot Class A office tower, and was particularly interested in its 24-hour uniformed security, on-site parking, and complete redundant energy systems.

In another major transaction, Ms. Stein and Mr. Madison helped Hartford Steam Boiler renew and expand its lease to a total of 20,084 square feet at 188 Mount Airy Road in Basking Ridge, NJ, where Newmark acted as exclusive leasing agent for Wellsford Commercial Properties Trust. Newmark also represented the law firm of Fischbein, Badillo, Wagner, Harding, which has subleased space at 2 Penn Plaza East in Newark, NJ. Ms. Stein and Mr. Madison co-brokered the Basking Ridge deal; Senior Managing Director W. Joshua Levering and Vice Chairman Barry Gosin of Newmark & Co. Real Estate of New York handled the Penn Plaza sublease.

"Mount Airy Road is a two-building campus that's one of the most upscale locations in New Jersey," says Ms. Stein. "It includes a very attractive pond and abundant parking, in a beautiful park-like setting, and provides exceptionally convenient access to the major highways."

"Two Penn Plaza is a 400,000-square-foot Class A building with 12 stories of office space above five floors of parking," Mr. Levering remarks. "It's in a terrific location in downtown Newark, which is continuing to flourish as a major commercial center, as it offers PATH train and bus access directly to Penn Station in Manhattan. The leasing activity in Newark is reminiscent of a couple of generations ago, when Newark was a kind of younger sister to New York City."

Located  in Rutherford, NJ, Newmark Partners, Inc. is Newmark & Company's New Jersey operation. Founded in 1929, Newmark & Company Real Estate, Inc. is one of the largest privately-held full-service commercial real estate firms in the United States. Ranked among the top three firms in the New York Metropolitan area, Newmark currently leases and/or manages 46 million square feet of space. Newmark Partners, Inc. is an individual member of the Society of Industrial and Office Realtors (SIOR).

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