125 Asia Place in East Rutherford — Courtesy: NAI James E. Hanson
By Joshua Burd
An office systems and furniture company is staying in place in the Meadowlands after signing a renewal for more than 26,000 square feet, brokers with NAI James E. Hanson announced.
The tenant, United Business Environments, occupies more than half of the Prologis-owned building at 125 Asia Place in East Rutherford. NAI Hanson said the firm is a longtime tenant at the 52,192-square-foot building and has benefited from its proximity to routes 3 and 17 and other major highways.
“Although the pandemic and economic fallout has placed pressure on most of the commercial real estate industry, northern New Jersey’s industrial sector continues to remain strong with robust leasing activity within the market’s limited available space,” NAI Hanson’s Scott Perkins said. “While there is deep interest from new companies looking to operate in the market, we are continuing to see high renewal activity from businesses like United Business Environments hoping to ensure they can capitalize on the market’s value proposition over the long-term.”
Perkins joined Ken Lundberg, Chris Todd and Pat Lennon, also of NAI Hanson, and JLL’s Michael Palmeri in representing the tenant in the 26,486-square-foot transaction. They noted that the property has 16-foot ceiling heights, four loading docks and one drive-in.