225 Brae Blvd. in Park Ridge — Courtesy: CBRE
By Joshua Burd
The company behind Welch’s Fruit Snacks is moving its headquarters to Park Ridge, where it has leased more than 110,000 square feet at the former longtime home of The Hertz Corp.
Brokers with CBRE on Monday announced that Promotion in Motion Inc. has signed a 110,945-square-foot lease at 225 Brae Blvd., a 224,413-square-foot building near the Garden State Parkway. The real estate services firm hailed the deal as Bergen County’s largest new office transaction to date in 2019, following a series of improvements by landlord Brae Holdings LLC.
CBRE’s Jeffrey Babikian, Brian Godau and Garrett Rioux represented ownership, while Robert Nathin of Sheldon Gross Realty Inc. represented Promotion in Motion, a manufacturer of fruit snacks, fruit rolls, confections and other snack food products.
“We are thrilled to be able to bring such a high-profile company to the property and to the Montvale/Park Ridge market, where the redevelopment of the area over the past few years has attracted a number of major corporate tenants,” said Babikian, an executive vice president in CBRE’s Saddle Brook office. “We are also very excited to have worked closely with ownership during the repositioning of the asset from a single-tenant facility to one of the best-in-class multi-tenanted Class A office buildings in the market.”
Promotion in Motion is currently headquartered in Bergen County, having occupied a facility in Allendale for several years. Its new home, a three-story building that dates back to 1988, was Hertz’s longtime headquarters before the rental car giant announced in 2013 that it would leave New Jersey and move hundreds of jobs to Estero, Florida.
Brae Holdings LLC has since repositioned the building with new investments that complement its marble façade and other features. Amenities include covered parking, full-service café and fitness center.
“Ownership has invested considerable capital towards a number of major improvements at the property to create a working environment unlike anything found in this submarket that is ideal for office users looking for quality space in Bergen County,” said Godau, a first vice president with CBRE.