123 Tice Blvd. in Woodcliff Lake — Courtesy: JLL
By Joshua Burd
A wireless logistics tracking company has made a new long-term commitment at a Woodcliff Lake office building, signing a lease extension for more than 15,000 square feet.
The firm, ID Systems, inked the renewal at 123 Tice Blvd. as part of a newly announced transaction by JLL. The company occupies 15,486 square feet within the Vision Properties-owned building, which sits west of the Garden State Parkway off Chestnut Ridge Road.
JLL managing directors Scott Lesh and Andrew Zezas, along with Senior Vice President Derek DeMartino represented the tenant, which operates as PowerFleet Inc. CBRE First Vice President Garrett Rioux represented ownership.
“We were pleased to structure a lease that reduced the tenant’s footprint by more than 25 percent, reducing costs while also securing improvements to enhance the workplace environment,” DeMartino said. “Negotiating a beneficial lease in current crisis helped to position the company for further success.”
PowerFleet provides subscription-based solutions for securing, controlling, tracking and managing high-value enterprise assets such as industrial trucks, tractor-trailers, containers, cargo, and vehicles and truck fleets, JLL said.