ROCHELLE PARK, N.J. (April 22, 2020) – Bergman Real Estate Group, a privately owned real estate investment firm that owns and manages office properties throughout New Jersey, today announced several long-term lease expansions at 365 W. Passaic Street in Rochelle Park, N.J.
Stantec Consulting Services, represented by Derek Demartino of Jones Lang LaSalle, renewed a long-term lease for 14,000 square feet, while IQVIA Biotech, LLC, represented by Cushman & Wakefield, renewed a 10,400 square-foot lease. Regulus Group, LLC d/b/a/ TransCentra has signed a long-term renewal of a 24,000-square-foot lease.
“We are thrilled that Stantec, IQVIA, and TransCentra have chosen to make 365 W. Passaic Street their long-term home,” said Michael Bergman, President and CEO, Bergman Real Estate Group.
The five-story, 218,500-square-foot office park features flexible floor plates which can accommodate spaces from 1,000 square feet to 50,000 square feet. The 9.95-acre site also features ample parking for more than 700 cars.
In addition to the newly-renewed leases, Bergman said that 365 W. Passaic Street is now home to a newly-renovated café and remodeled full height atrium lobby with seating. The new café and lobby are part of an ambitious $2 million capital improvements program undertaken by Bergman Real Estate Group and The TAK Group, who acquired the property in a joint venture last year.
“At Bergman, we set out to invest in properties by adding upgrades and amenities which increase their value,” Bergman said. “Our newly-renovated café and atrium are right in line with that mission, creating a welcoming environment for tenants and visitors alike. Tenants regularly utilize the café for snacks and lunch breaks, while visitors are greeted by an impressive lobby where they can wait comfortably for their hosts.”
According to Bergman, the two firms are currently making improvements to common areas on the upper floors, including new carpeting, wall coverings, and lighting. These improvements are expected to be completed by the end of 2020. Additional improvements on deck include remodeled restrooms and a significant investment into enhanced plaza landscaping.
Located in the heart of Bergen County, 365 W. Passaic Street is situated at exit 160 of the Garden State Parkway. The property is adjacent to the Westfield Garden State Plaza, Paramus, and is minutes from the Ramada Inn and Courtyard by Marriott. Tenants and visitors enjoy immediate access to Routes 4, 17, 46, 208, and I-80. Manhattan is only 20 minutes away, accessible via the George Washington Bridge just 9 miles away and via NJ Transit bus service which picks up passengers from the front of the building.
365 W. Passaic Ave. has several units available ranging from 5,000 square feet to 42,000 square feet. The entire third floor is also available. The quoted rate is $25 per square foot, plus tenant electric. For more information or to inquire about availability, visit www.bergmanrealty.com.
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 31 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 under performing properties, currently manages 18 office buildings comprising 2.1 million square feet.