700 Gotham Parkway in Carlstadt — Courtesy: Key Properties
By Joshua Burd
Key Properties has completed a 12,000-square-foot lease renewal at a Carlstadt industrial building, the longtime home of a flavor compound company.
According to the landlord, Flavor Materials International has occupied part of 700 Gotham Parkway in Carlstadt for more than two decades. Its latest commitment keeps the 80,000-square-foot building at full occupancy and keeps the tenant in place for an undisclosed term, providing it with continued easy access to the Meadowlands and the surrounding network of highways.
“Key Properties is thrilled to announce Flavor Materials International will renew its lease at 700 Gotham Parkway,” said Marc Schlussel, the real estate firm’s co-managing partner. “The company’s decision to renew reflects its success at this location, while also allowing us to maintain our long and successful relationship.”
Flavor Materials is among multiple tenants at the 80,000-square-foot property, which was an abandoned paint manufacturing plant when Key acquired it in 1997. The Teaneck-based firm subsequently renovated and transitioned the building to multitenant use, having maintained full occupancy since that time.
“When we acquired 700 Gotham Parkway, the building was in a state of disrepair, yet its excellent location and explosion-proof construction distinguished it as an opportunity with significant potential,” Schlussel said. “This property also offers excess land, which provides tenants with generous on-site parking — a feature not typically found at industrial properties in the Meadowlands submarket.”
