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Eastman Books A Half Million Square Feet in Leasing for 2016

Eastman Office Center, 651 W. Mount Pleasant Ave., Livingston, NJ Eastman Office Center, 651 W. Mount Pleasant Ave., Livingston, NJ

LIVINGSTON, NJ—Livingston-based Eastman Companies inked more than 112,000 square feet of lease transactions during the second half of 2016, and 500,300 square feet for the year at its New Jersey office and retail properties, the company says. Eastman also completed numerous amenity and aesthetic upgrades throughout its Livingston office portfolio designed to enhance the tenant experience.

“We are extremely pleased with the positive leasing activity and momentum we experienced throughout 2016, executing a blend of both new leases and renewals throughout our portfolio of properties,” says Michael Schofel, Eastman’s managing partner. “We continue to actively enhance and reposition our real estate assets in order to create a premier work/live business environment for current and prospective tenants.”

Highlights of second-half leasing activity include:

  • At Regent Park, medical device company CooperSurgical renewed an 11,500-square-foot lease, negotiated by Andy Zezas of Jones Lang LaSalle.
  • At 23 Vreeland, Finlay Extracts & Ingredients renewed and expanded to 6,800 square feet, and Li Creative Technologies – an innovator in audio, speech and biometric solutions – renewed a 1,600-square-foot commitment. Leases were negotiated by Charlie McMahon of McMahon Real Estate (Finlay) and Peter Shikar at CBRE (Li Creative).
  • Media and information company PennWell Corp. renewed a 5,200-square-foot lease at the Vanguard Building, 21-00 Route 208, Fair Lawn. Dave DeMatteis of Cushman & Wakefield negotiated the lease.
  • At Eisenhower Corporate Campus, John Hancock Life Insurance renewed a 16,000-square-foot lease. The Disability Advocacy Group and TEKCONN also joined the tenant mix, leasing 2,000 and 1,300 square feet, respectively. Leases were negotiated by Jim Garibaldi, Mike Witco and Scott Garibaldi at The Garibaldi Group, exclusive broker (John Hancock, TEKCONN) and Jerry Shifrin of Cushman & Wakefield (Disability Advocacy Group).
  • Jewish Vocational Service leased 8,000 square feet at Eisenhower Plaza, and Renaissance Digital Solutions leased 2,000 square feet at Eastman Office Center.  Leases were negotiated by Steve Geltzeiler of Avison Young (Jewish Vocational Service) and Jim Sousa of Weichert Commercial Brokerage (Renaissance).
  • Law firm Barbosa Donovan renewed a 2,700-square-foot lease at 70 South Orange Avenue, and Retailers & Manufacturers renewed a lease for 2,000 square feet. Leases were negotiated by Eastman Companies (Barbosa) and Tom Consiglio at Resource Realty (Retailers & Manufacturers).
  • At The Fresh Market Shoppes at the Livingston Circle in Livingston, Goldfish Swim School leased 8,100 square feet and indoor cycling studio CycleBar inked a lease for 3,200 square feet. Both transactions were negotiated by Florian Suserman of Ripco Real Estate.

Eastman’s director of leasing, Eric J. Maurer, worked in partnership with the brokerage firms to execute these transactions.

Eastman continued to expand and upgrade on-site amenities and services throughout its office portfolio. The new Amenity Court at Eisenhower Plaza includes “354fit,” a state-of-the-art fitness center, and Living Fitness, which offers one-on-one personal training and Pilates. Renovations to the building’s conference center and café will be completed this summer. Construction of a new conference facility and full service café was also completed at Eastman Office Center.

A series of completed façade and site improvements at The Fresh Market Shoppes at the Livingston Circle boosted the retail center’s aesthetic appeal.

Leasing activity also remained strong throughout Eastman’s retail portfolio. At Lyons Plaza in Irvington, Key Food Stores celebrated the grand opening of its newest regional SuperFresh location. The 48,720-square-foot store, located in the former Pathmark space, offers a large selection of grocery items as well as an extensive health and beauty department and a pharmacy. Florian Suserman and Stephanie Harris of Ripco Real Estate represented the landlord; David Brecher and Robert Capatina of Space Realty Services represented the tenant.

 

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