2 Mill Ridge Lane in Chester — Courtesy: NAI James E. Hanson
By Joshua Burd
Three tenants have leased a combined 15,437 square feet within a group of Morris County office buildings, in a series of newly announced transactions by NAI James E. Hanson.
In the largest of the three, Ambac Assurance Corp. is taking 12,400 square feet at 2 Mill Ridge Lane in Chester. NAI Hanson’s Joseph Vindigni represented the tenant in the lease with Mill Ridge Lane LLC, the owner of the 32,000-square-foot building, noting the Ambac is using the site as temporary space as it renovates its existing office in Lower Manhattan.
“As a result of COVID-19, many office tenants are considering ways to modify or reconfigure their spaces to promote social distancing and prioritize employees’ health and safety within the workplace,” Vindigni said. “While it’s still too soon to predict the overall long-term impacts COVID-19 will have on the ways in which we work, it is possible we will start to see a small-scale temporary or even permanent migration from high-density population centers like New York City as companies like Ambac Assurance seek out social distancing-friendly spaces in the interim while they sort out long-term plans for their businesses.”
At nearby 6 Mill Ridge Lane, Vindigni joined Randy Horning and Darren Lizzack in representing MGHC Group II LLC in a 2,400-square-foot lease with Fulton Bank. They also represented MCHC in a lease at 1 Mill Ridge Lane, a recently renovated, 16,000-square-foot building, where International Brain Research Foundation is taking 637 square feet.
In a news release, NAI Hanson touted the buildings’ location in downtown Chester, which offers easy access to routes 46, 202 and 206 and interstates 78, 80 and 287.