EliteCAD Designs, Preferred Plastics & Packaging Co. join more than 40 other companies at the newly-renovated office park
WOODBRIDGE, NJ, September 12, 2017 — Bergman Real Estate Group, a privately owned real estate investment firm that owns and manages office properties throughout New Jersey, today announced two new lease transactions totaling 13,606 SF at 1099 Wall Street West, a 120,000-square-foot, three-story office building in Lyndhurst, New Jersey.
EliteCAD Designs, a commercial MEP modeling and coordination firm, and Preferred Plastics & Packaging Co., Inc. a wholesale packaging supplies distributor, have signed long-term leases at the newly-renovated office park. EliteCAD Designs will occupy a total of 5,400 SF, while Preferred Plastics leased 8,200 SF of space. They are joining more than 40 other companies who were drawn to the office building’s Meadowlands location, attractive rental rates and easy access to major highways and public transportation.
“The combination of prime location and incredible value certainly spoke to EliteCAD Designs and Preferred Plastics,” said Isabel Freire, Assistant Director of Leasing and Marketing for Bergman Real Estate Group. “We are pleased to welcome these two businesses to the 1099 Wall Street West community.”
EliteCAD Designs had been operating out of a space under 3,000 square feet, according to Brian Wilson, Vice President at Resource Realty of Northern NJ, which served as EliteCAD’s broker. This small space, approximately 45 minutes northwest of Lyndhurst, did not allow for expansion or even for breathing room between departments. Finding a new space which supported their continuing expansion became a priority earlier this year.
“The new 1099 Wall Street West space provides EliteCAD Designs with ample room for all departments to operate more efficiently, as well as give them room to hire more employees,” Wilson said. “They will also be able to have separate areas designated for different departments in a new, larger space.”
Wilson added that the move brings EliteCAD Designs much closer to many of their New York City-based clients, as 1099 Wall Street West is less than 10 miles from midtown Manhattan by car. Public transportation access is also available: NJ Transit bus service is available directly in front of the office building and the NJ Transit train from the Kingsland station just one mile away.
Preferred Plastics & Packaging will relocate this fall from Belleville, New Jersey, less than 5 miles away from their new home at 1099 Wall Street West. They are one of the largest wholesale product packaging supplies distributors in the United States, with seven product groups, 700 products and 65 product lines stocked in six warehouses across the country.
Bergman Real Estate Group acquired the office building from a private equity fund in April 2016. Since then, tenancy has increased from 50% to 75%. Bergman has also made significant improvements to the property since its acquisition, creating an “appealing, modern and relaxing” environment for new and renewing tenants alike. These include common area upgrades, a new café and seating, a tenant lounge and game room, and a shared conference room/training center.
“By investing in 1099 Wall Street West, we keep our existing tenants happy while appealing to new tenants like EliteCAD Designs and Preferred Plastics,” said Michael Bergman, President and Chief Executive Officer of Bergman Real Estate Group. “The renovations and additions we have made since acquiring the property are testament to the new ownership’s continuing commitment to improving the value of its portfolio of properties.”
About Bergman Real Estate Group
Founded in 1988, Bergman Real Estate Group is a privately owned, full-service real estate investment and management company. With more than 28 years of history operating in New Jersey and other select markets, Bergman has earned a solid reputation as a reputable and trustworthy owner/manager. The company’s fully integrated platform includes acquisition, ownership, asset and property management, leasing and construction supervision. Bergman, which has built its success on acquiring and successfully repositioning underperforming properties, currently manages 17 office buildings comprising 1.8 million square feet.
