ISELIN, N.J. (MAY 15, 2009) – Bergman Real Estate Group, a privately owned real estate investment firm that owns and manages office properties throughout New Jersey, announced four new long-term leases at 155 Passaic Avenue in Fairfield, New Jersey.
This four-story, 88,000-square-foot Class-A building is adjacent to the Essex County Airport less than two miles from the Interstate 80 and Route 46 interchanges, thereby offering quick access to the areas major highways of Routes 23 and 3, Interstates 280 and 287 and the Garden State Parkway. In addition to its convenient accessibility, the property enjoys a close proximity to a plethora of restaurants, banking facilities, hotels and retail shopping, including the Willowbrook Mall.
The most significant transaction was with Science Applications International Corporation (SAIC), who leased 37,100 square feet on two floors. SAIC is a Fortune 500 company that specializes in providing scientific, engineering and technology applications and solutions for the public and private sector industries of National Security, Energy, Environment, Critical Infrastructure and Health. SAIC employs 45,000 people in 150 cities worldwide.
Steven L. Fleming, senior vice president, of Jones Lang La Salle was the sole broker who represented SAIC on this lease transaction, while John G. Osborne, executive director of leasing and marketing for Bergman Real Estate Group represented the landlord.
“We are delighted to have secured this major lease,” says John Osborne, executive director of leasing and marketing for Bergman Real Estate Group. “Not only does this transaction emphasize the quality of this asset, but it helps stabilize the occupancy of the property after we unexpectedly lost a full floor mortgage company last September.”
Business Processes Redefined, LLC, a receivables management firm for companies wishing to outsource their debt-collection activities, has leased 2,220 square feet of office space on the third floor of the building. Kelly Ziegenfuss, assistant director of leasing and marketing for Bergman Real Estate Group was responsible for negotiating this lease on behalf of the landlord and tenant.
“Bergman was able to quickly place Business Processes in a quality temporary space while they waited for the permanent space to be built out, which facilitated a seamless transition for them,” said Kelly Ziegenfuss, assistant director of leasing and marketing for Bergman Real Estate Group. “The reasonably priced space coupled with the proximity to so many major roadways made 155 Passaic Avenue an easy choice for the tenant and their employees.”
Two additional leases were made with Petry Engineering, LLC, an engineering firm, for 1,900 square feet on the first floor of the building, and Airshares Elite NY, LLC, for 1,350 square feet on the third floor. Len Stagnito of Jack Silverman Realty represented Petry Engineering, while Mitchell Roman of American Properties Network represented Airshares Elite.
“155 Passaic is a premier location at an incredible value when compared to other buildings in the Fairfield/Wayne/Route 46 submarket,” noted Osborne. “Our new tenants will not only enjoy the attractive building features of a full height sky-lit atrium lobby and newly renovated public areas with high quality finishes throughout, but they will experience the benefits of being in a Bergman managed office building, which offers all of its tenants responsive and professional property management services at all times.”
To learn more about leasing opportunities at 155 Passaic Avenue or other Bergman Real Estate Group properties, contact John G. Osborne or Kelly Ziegenfuss at (732) 855-8600 or visit www.bergmanrealty.com.
About Bergman Real Estate Group
Bergman Real Estate Group is a privately owned real estate investment and management firm that specializes in the acquisition, management, leasing and construction of commercial office properties throughout New Jersey. Since its formation in 1988, Bergman Real Estate Group has earned a solid reputation as a leader in the New Jersey commercial office market with a current portfolio consisting of 15 office buildings comprising 1,600,000 square feet, including two properties where Bergman provides third party leasing services on behalf of a pension fund advisor. The company continues to actively pursue value-added investment opportunities in the marketplace.