1099 Wall Street West in Lyndhurst — Courtesy: Bergman Real Estate Group
By Joshua Burd
A design technology firm and a packaging supplies distributor are among the newest tenants at a Lyndhurst office building, leasing a combined 13,600 square feet.
The owner, Bergman Real Estate Group, announced the new leases at 1099 Wall Street West with EliteCAD Designs and Preferred Plastics & Packaging Co. Inc. They join the roster of more than 40 other firms at the 120,000-square-foot, three-story building near routes 3 and 17.
EliteCAD Designs, a commercial mechanical, electrical and plumbing modeling and coordination firm, will occupy 5,400 square feet in the complex. Preferred Plastics has leased 8,200 square feet.
“The combination of prime location and incredible value certainly spoke to EliteCAD Designs and Preferred Plastics,” Isabel Freire, assistant director of leasing and marketing for Bergman Real Estate Group, said in a prepared statement. “We are pleased to welcome these two businesses to the 1099 Wall Street West community.”
Brian Wilson, vice president at Resource Realty of Northern New Jersey, represented EliteCAD Designs, noting that the tenant had occupied about 3,000 square feet at a building about 45 minutes away. The firm had sought to find a new space that supported its continuing expansion plans and provided proximity to its New York City-based clients.
“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.”
Preferred Plastics & Packaging will relocate this fall from Belleville, Bergman said in a news release. The company is 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.
The transactions at 1099 Wall Street West are the latest in a series of deals that have helped Bergman boost occupancy to 75 percent from 50 percent, following its acquisition of the property in April 2016. The Woodbridge-based landlord has also made several upgrades, including 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, CEO and president. “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.”