The Ridgedale Industrial Campus at 901, 903, 904, 905, 906 and 601 Murray Road and 151 Ridgedale Ave. in East Hanover — File photo/Courtesy: JLL
By Joshua Burd
A fragrances company has signed a nearly 43,000-square-foot lease renewal at an industrial park in East Hanover, in one of two recent deals by Resource Realty of Northern New Jersey.
The brokerage team represented Morgan Stanley, the landlord at 905 Murray Road, in the transaction with Givaudan Fragrances Corp., according to a news release. The Switzerland-based firm, which focuses on providing scents for food, beverage and beauty products, has been a tenant at the 197,840-square-foot building for 15 years.
Resource Realty principals Tom Consiglio and Scott Peck completed the 42,716-square-foot deal. Built in 1963, the facility has a new roof, parking lot and loading doors and is part of the seven-building, 1.22 million-square-foot campus that the joint venture of Morgan Stanley and Saxum Real Estate acquired last fall.
Cushman & Wakefield’s Steve Sander represented Givaudan in the renewal.
“East Morris has been and continues to be a sought-after market for a diverse roster of companies representing different industries and warehouse (and) logistics needs,” said Consiglio, Resource Realty’s founder. “For this tenant, being a part of the industrial campus, regional connectivity to affiliated facilities throughout North Jersey and maintaining a significant square-footage of cooler space at 905 Murray Road, specifically, were important factors for maintaining their operations here.”
In the second deal, Resource Realty Principal Greg Sabato and Vice President Dan Whitehead represented longtime client Richards and Robbins in a renewal at 11 Madison Road in Fairfield. PPI Time Zero, which is now part of VIRTEX, occupies 30,000 square feet at the 50,000-square-foot, single-story building just off Route 46.
Cresa represented the occupier.
“This long-term tenant has benefited from 11 Madison Road’s strategic location and highly improved building features and amenities, which ultimately resulted in choosing to remain in place,” Sabato said. He added that the facility now serves as a Mid-Atlantic regional service location for VIRTEX, an electronics manufacturing provider serving the military and aerospace, space and satellite, industrial and medical sectors.
Built in 1980, 11 Madison Road occupies 2.33 acres and provides users with easy access to interstates 80, 280 and 287 as well as Route 23. Resource Realty said. The flex warehouse space has 22-foot ceiling heights.
