2 Laurel Drive in Flanders — Courtesy: Newmark Associates
(Editor’s note: This story was updated on Wednesday, Feb. 20, with new information and a quote from the landlord, Saddleback Real Estate Developers.)
By Joshua Burd
A cheese importer is set to occupy 37,500 square feet of industrial space in Mount Olive, following a recent transaction arranged by Newmark Associates.
The brokerage firm on Monday announced that Epicure Foods Corp. has leased 35,700 square feet at 2 Laurel Drive, part of an industrial park in the township’s Flanders section. The 10-year lease with Saddleback Real Estate Developers follows a two-year search for the tenant, which imports cheese and related products internationally and distributes throughout the U.S.
Newmark Associates Vice President Bill Cunningham represented both parties.
“Epicure is a privately held, 30-year-old family business now operated by the founder’s daughter and son,” Cunningham said. “We started two years ago looking for buildings with high ceilings in the Essex County area.
“Finding none, we then looked for land on which to build a 30,000-square-foot building. When their need to move from their former location became urgent, we fortunately found 2 Laurel Drive, meeting all of the tenant’s essential requirements for ceiling height and refrigeration.”
Built in 1986 on 7.2 acres, the property houses a refrigerated building with ceiling heights of 19 to 22 feet, Newmark said. The property is made up of divisible flex units with mostly warehouse space and loading areas.
In a separate announcement, Saddleback said it believed its management style was a key draw for the fine foods importer.
“We offer an extremely high level of property management and maintenance for our tenants,” said Terry Frassetto, Saddleback’s president. “We are pleased to have Epicure Foods Corporation in our space and look forward to a long-term relationship with them.”
Epicure is installing 30,000 square feet of new refrigeration units, while the owner is fitting out 4,000 square feet of customized office space. The company will benefit from the property’s direct access to Route 206 and proximity to routes 46 and 10 and interstates 80, 78 and 287.
“Bill is a consummate professional,” said Susanne Newmark, founder and president of the Cedar Knolls-based brokerage firm. “His market knowledge and dedication to his clients are exemplary with integrity and attention to detail demonstrated in every project he undertakes.”