900 American Road in Morris Plains — Courtesy: Resource Realty of Northern New Jersey
By Joshua Burd
A developer and its leasing team have filled more than two-thirds of a new flex commercial building in Morris Plains, with a mix that includes both life sciences and recreation users.
Commercial Realty Group, along with brokers with Resource Realty of Northern New Jersey, recently welcomed Redline Athletics to the 65,000-square-foot property at 900 American Road, The business has leased 10,000 square feet, operating a youth sports performance training center.
The other new tenant, Freedom Academy, is a dance and gymnastics facility that occupies 5,000 square feet at the freestanding building.
Redline Athletics and Freedom Academy join Cryoport, a cold chain logistics provider for the life sciences industry, which will occupy 25,000 square feet. The company was the first tenant to commit to 900 American Road, in a lease announced earlier this year by CRG and Resource Realty.
The tenants that followed did not factor into the team’s initial leasing strategy, CRG said, but have proven to be a reliable source of demand.
“That was not our original intention and our original desire, but based upon going through everything, we thought it was a fair use for the property and a relatively light use for the property,” CRG’s Jim Hadrava said, “which certainly is beneficial as opposed to a heavy industrial kind of use.”
Resource Realty’s Gregory J. Sabato and Scott Peck represent CRG at the property and have been marketing the remaining 15,000 square feet, which is divisible to 5,000 square feet. The firm continues to target industrial and flex users that require a mix of office or production space with a warehouse component.
“That’s most of the activity that we’ve seen,” Peck said. “And recreational people just happen to have very few alternatives, and this is perfect for that.”