One Chapin Road in Pine Brook — Courtesy: Newmark
By Joshua Burd
A maker of herbal extracts and other natural ingredients has renewed its 55,000-square-foot lease at a Morris County industrial building, in a deal arranged by brokers with Newmark.
The company, Jiaherb Inc., occupies more than a third of the single-story, 133,563-square-foot research and flex building at One Chapin Road in the Pine Brook section of Montville, according to a news release. A tenant since 2015, it’s now set to remain in place under a long-term extension that will allow it to continue its growth and expansion within the U.S.
Newmark Associate Director Andrew Perrotti, Senior Managing Director Jamie Drummond and Managing Director Chris Koeck represented Jiaherb in the deal. Gregory Sabato, Scott Peck and Thomas Consiglio of Resource Realty represented the landlord, Cohen Asset Management.
“After evaluating the market for suitable purchase or lease relocation options for the past year-plus, current ownership offered Jiaherb favorable terms for a long-term extension that included several upgrades which realigned the space with the company’s current and future growth plans,” Perrotti said. “We are pleased to continue our partnership with Jiaherb by re-securing the base for their U.S. headquarters and East Coast distribution.”
Jiaherb manufactures herbal extracts and other natural ingredients used in the nutraceutical, pharmaceutical, cosmetic and food and beverage industries. The company moved to One Chapin Road in 2015 when it opted to merge its previous Parsippany headquarters office with an East Coast warehousing operation previously handled by a third party.
Perrotti has represented Jiaherb for its New Jersey operations since 2013, the news release said. The firm’s home in Pine Brook, built in 1982, sits on 10 acres and features 20-foot clear ceiling heights and 40-foot by 40-foot column spacing.