611 River Drive in Elmwood Park — Courtesy: Lee & Associates New Jersey
By Joshua Burd
Lee & Associates New Jersey has found a new home in Elmwood Park, as the broker-owned real estate services firm eyes continued growth in the Garden State.
The firm announced Monday that it has relocated to 611 River Drive, where it’s leasing 5,765 square feet. The new space, which is up the street from its previous office in the borough, features a more efficient floorplan for both workplace collaboration and to support COVID-19 precautions.
“As our team and platform of services continue to grow, this new space, in an excellent location, will help us better serve our clients and meet the significant demand for industrial, medical and office leasing and investment sales in the region,” said Jason Lynch, a principal of Lee & Associates New Jersey.
Joe Tormen and Peter Rasmusson of Lee & Associates New Jersey represented the firm in the transaction. Jerry Shifrin and Curtis Foster of Cushman & Wakefield represented ownership.
“With the support of the landlord, we were able to redesign the office to an efficient layout still allowing us to apply the workplace strategy we sought for this space in consideration of social distancing,” Torman said. “Despite the challenges due to the pandemic, we were able to complete the transaction and set ourselves up for the future.”
Lee & Associates, the country’s fastest-growing broker-owned real estate services firm, opened its New Jersey office in 2009 and today operates 70 offices in North America and 18 in Europe. In recent years, the New Jersey team has added industry veterans in retail brokerage and property management, while completing major transactions in the region such as the $23.5 million sale of 234 Moonachie Road in Moonachie to Liberty Property Trust.
The firm also has another significant health care transaction in the pipeline, according to a news release. The New Jersey office is poised to finish 2020 with transaction totals in line with 2019, despite the impact of the pandemic.