3 University Plaza in Hackensack — Courtesy: Cushman & Wakefield
By Joshua Burd
New leases and expansions by existing tenants have fueled more than 50,000 square feet in recent deals at a Hackensack office building, brokers with Cushman & Wakefield said.
The real estate services firm, which is the leasing agent for the building, said Friday that 3 University Plaza attracted two new tenants in 2016 for a total of more than 18,500 square feet. The activity includes a 16,263-square-foot lease by Bergen’s Promise, a care management organization that moved from Rochelle Park, and a 2,380-square-foot lease by Brainsway, an international, publicly traded medical device company.
“Three University Plaza continues to attract tenants with a combination of building amenities, convenient access to New York and easy accessibility to Route 80, the NJ Turnpike and Garden State Parkway,” William O’Keefe, senior director with Cushman & Wakefield, said in a prepared statement. “The building’s amenities include a full cafeteria, conference center and lobby attendant and additional amenities in the area such as the Shops at Riverside for dining and retail shops.”
O’Keefe, who works with the Cushman & Wakefield team of Raymond Trevisan and Brandon DeGraff in leasing the space, also credited the building’s owner, Normandy Real Estate Partners, for having an institutional, vertically integrated platform.
“The people at Normandy are creative dealmakers who think out of the box,” he said.
Activity at 3 University Plaza in 2016 also included three deals with existing tenants:
- Total Bank Solutions, a technology firm serving banking intermediaries, added 11,723 square feet and now occupies 21,595 square feet.
- Senior health and homecare provider Confident Care extended on 5,089 square feet.
- TIAA, a Fortune 100 financial services organization and a leading retirement provider, extended its lease of 6,599 square feet.
“The building is currently offering a rare opportunity, marketing 56,000 square feet that comprises the first and second floors,” O’Keefe said, adding that the space has its own private building entrance, parking and opportunity for enhanced branding with outdoor signage.