3 Wing Drive in the Cedar Knolls section of Hanover — Courtesy: Newmark Associates
By Joshua Burd
A landlord has selected Newmark Associates as its leasing agent for a 410,000-square-foot office and flex portfolio in Morris County.
In a news release Friday, the brokerage firm said it was representing EI Realty in marketing space at 2 Ridgedale Ave., 3 Wing Drive and 14 Ridgedale Ave. in the Cedar Knolls section of Hanover. The availabilities include both medical and professional office suites, Newmark said, adding that Executive Vice President Helene Elbaum and Senior Sales Associate Courtney Rosenkranz are leading the assignment.
“EI Realty has stepped up as one of the most aggressive dealmakers in the Morris County market,” Elbaum said. “We are privileged to exclusively represent EI Realty as a premier landlord who provides not only a professional and creative approach to leasing, but are dealmakers in the market.”
The brokerage team has worked alongside EI Realty’s Guy Cipriano and Thomas Semler, the firm’s director of leasing, to ink several new commitments and renewals over the past year within the portfolio.
“EI Realty enabled us to create many opportunities and lease incentives for prospective tenants,” Rosenkrantz said. “We expect the interest in the EI Portfolio to continue as the year progresses and people are more comfortable returning to the workplace.”
The landlord, which operates in New Jersey and Pennsylvania, has been developing in Cedar Knolls since 1964. Cipriano said the company has worked with Newmark Associates for the past five years at a mixed-use business park.
“Their ability to quickly solve problems and provide expert market knowledge has contributed to the success of a 93 percent occupancy rate at our business park,” Cipriano said. “We enjoy a much-valued relationship.”
