650 From Road in Paramus — Courtesy: Cushman & Wakefield
By Joshua Burd
Onyx Equities has leased up a 350,000-square-foot office building in Paramus, following a renovation that began in 2020 and a marketing push led by Cushman & Wakefield.
The brokerage team announced the milestone this week, noting that it has completed some 200,000 square feet of new long-term deals at 650 From Road. That’s due in large part to the landlord’s investment of more than $10 million, which attracted the likes of Hackensack Meridian Health as well as Quality Medical Management Services, Unified Woman’s Health, Phoenix Power Group and New Jersey Brain and Spine PC.
Cushman’s Ben Brenner, Mark Zaziski and David DeMatteis represented ownership as the leasing agents.
“In 2019, Onyx Equities tasked our team with developing a lease-up strategy to convert a well-known, legacy office building into a premier office and medical destination,” Brenner said. “Ultimately, the building’s transformation and strategic location attracted the state’s top medical users, including anchor tenant Hackensack Meridian Health, New Jersey’s largest and most comprehensive health network.”
Hackensack Meridian leased nearly 100,000 square feet at the property in 2022 and has since expanded by more than 60,000 square feet, Onyx said last year. At the time, the facility was the network’s largest ambulatory health and wellness center.
C&W noted this week that the five-story building has upscale lobbies, a full-service food hall, a modern conference center and indoor and outdoor employee lounge areas. Additional amenities include a wellness path, outdoor dining areas and a pond.
Tenants also benefit from a location off Route 17 and the Garden State Parkway, which provides easy access to shopping and dining options such as the Paramus Park Mall.
“The successful repositioning and lease-up of 650 From Road are proof that combining the right team with a well-located and properly renovated asset is a winning formula,” said DJ Venn, executive vice president of asset management for Onyx Equities.
Kimmerle touts upgraded amenities, common spaces at Onyx office building in Paramus