5 Paragon Drive in Montvale — Courtesy: Lincoln Property Co.
By Joshua Burd
A company that buys and leases refrigerated shipping containers has taken more than 15,000 square feet of office space in Montvale, in a deal arranged by Lincoln Property Co.
According to a news release, the first-floor space at 5 Paragon Drive will serve as SeaCube Container’s new global headquarters. The 15,287-square-foot deal brings occupancy at the building to more than 92 percent, coming alongside another deal in which Balchem Corp. expanded its own headquarters to 6,380 square feet.
Lincoln’s Rick Genthe, Bob Lee and Sean O’Brien represented the landlord, Exclusive Management, in both transactions. Gregg Najarian and Slava Vaynberg of Savills represented SeaCube, one of the largest purchasers and lessors of refrigerated shipping containers in the world, while Sam Pruitt of Site Selection Group and Roger Cantor of Cornerstone Real Estate Group LLC represented Balchem.
In announcing the deals, LPC noted that 5 Paragon Drive sits just off Exit 172 of the Garden State Parkway at the Grand Avenue intersection. The building is also within walking distance of the recently completed Shoppes at DePiero Farm, a 231,000-square-foot lifestyle center with a new 108,000-square-foot Wegmans supermarket, Starbucks, Ulta, Chipotle, Cycle Bar and Habit Burger, among others while tenants have similar access to the mixed-use Triboro Square project across the street.
