Mars Industrial Park in Montville — Courtesy: Diversified Properties
By Tina Traster
Diversified Properties has brought the five-building Mars Industrial Park in Montville to full occupancy after two recent leases totaling nearly 14,000 square feet.
In the larger deal, Cloud9 Design took 9,388 square feet at 1-2 Mars Court, the landlord said. AYY&M Wholesale, meantime, committed to 4,264 square feet at 3-3 Mars Court.
“The continued uptick in industrial activity across northern New Jersey has created an increased need for high-quality space in more westerly submarkets over the last several years,” said Nick Minoia, founder and managing partner of Diversified Properties. “Our acquisition of Mars Industrial Park in 2020 was inspired by our understanding of these market forces and the property’s ability to fit the needs of a wide variety of tenants that has been demonstrated by our successful lease-up.”
Spanning 15 acres, the 100,000-square-foot industrial portfolio is close to Route 23 and Interstate 287, according to a news release. The property is surrounded by the Pyramid Mountain Natural Historic Area, a 1,675-acre nature park in Montville, Boonton and Kinnelon that is managed by the Morris County Park Commission.
Cloud9 Design is a niche marketer in the home fashion sector using materials and designs from around the world, the news release said. AAY&M Wholesale is a wholesale distributor of brand-name electronics, computers, cameras, luggage and audio/video/mobile accessories.
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.