The Eastman Office Center at 651 Old West Mount Pleasant Ave. in Livingston — Courtesy: Eastman Cos.
By Joshua Burd
About 30 tenants have inked leases with Eastman Cos. in the first half of 2017, contributing to 120,000 square feet of activity across the firm’s commercial portfolio in New Jersey.
The Livingston-based owner said the activity represents both new leases and renewals in Essex and Morris counties. The transactions include deals with office tenants from the financial services and health care sectors, along with retailers at a Livingston shopping center.
“The volume of transactions completed highlights the intrinsic value tenants find in our well-located, amenity-rich office and retail portfolio,” said Michael Schofel, Eastman’s co-managing partner. “We expect this positive momentum to continue, and anticipate more new tenant leases and expansions in the second half of 2017.”
At Eastman’s Presidential Center complex in Livingston, accounting firm Sobel & Co. renewed and expanded its headquarters lease to more than 28,000 square feet. The landlord also said accounting and advisory firm PKF O’Connor Davies LLP renewed for 4,600 square feet at the same building, with Sean Morley of CBRE Group negotiating the lease.
At Regent Park, also in Livingston, genetic research and testing company Reprogenetics LLC expanded by 20,000 square feet, Eastman said in a news release. Andrew B. Zezas of JLL negotiated the lease.
The other transactions announced by Eastman are as follows:
- At 70 South Orange Ave. in Livingston, mortgage lender E Mortgage Management leased 12,000 square feet. Nick Savage and Peter N. Shikar of CBRE negotiated the lease.
- New York Life leased 6,000 square feet at Eisenhower Plaza. Derek DeMartino, George Gemelos and Nicole Tiger of JLL negotiated the lease.
- Partnership for People renewed its 4,000-square-foot lease at 23 Vreeland Road. David R. Williams of Weichert Commercial Brokerage negotiated the lease.
- At Eisenhower Corporate Campus in Livingston, Corsis LLC leased 3,400 square feet. Deborah Myers of Newmark Associates negotiated the lease.
- At Florham Park Medical Center, Northeast Facial and Oral Surgery Specialists LLC leased 3,500 square feet. Metropolitan Healthcare Properties LLC negotiated the lease, with Joseph Lombardi and John Masserano of Masserano Real Estate and Consulting LLC serving as consultants. Deborah Myers and Judith T. Feldman of Newmark Associates represented Eastman Cos.
- At Lyons Plaza in Livingston, fast-casual Mexican restaurant Las Palmitas leased 1,200 square feet. Florian Suserman of Ripco Real Estate Corp. negotiated the transaction.
Eastman’s director of leasing, Eric J. Maurer, worked in partnership with the brokerage firms to execute the transactions. The deals come as the firm continues to enhance its office portfolio, with planned projects such as a new café and conference center at Eisenhower Plaza.
The firm has also nearly completed improvements at Eastman Office Center and has commenced upgrades at 23 Vreeland Road.
At its Livingston Circle shopping center, Eastman said construction is underway for its two newest tenants, Goldfish Swim School and indoor cycling studio CycleBar. They will occupy 8,100 square feet and 3,200 square feet, respectively, and are both planning to open this fall.
