129 Summit Ave. in Summit — Courtesy: NAI James E. Hanson
By Joshua Burd
A financial services firm has leased 3,600 square feet of office space in downtown Summit, in a newly announced deal by NAI James E. Hanson.
The lease by Lionheart Wealth Management LLC, a subsidiary of Ameriprise Financial Services LLC, brings the 11,400-square-foot building at 129 Summit Ave. to full occupancy, according to a news release. The firm will use the space to expand its presence in the region, as it looks to leverage a location three blocks from NJ Transit rail service and minutes from Route 24, Interstate 78 and the Garden State Parkway.
NAI Hanson’s Thomas Ryan represented the landlord, Devon Partner Properties LLC, while Cushman & Wakefield’s East Rutherford represented the tenant.
“Downtown Summit has a very unique office market,” Ryan said. “There are a limited number of spaces available which directly impacts pricing in the area. Through our efforts, we were able to attract a high-quality tenant to the property, secure value on our client’s behalf and help bring in a company that can provide a valuable service to the community.”
NAI Hanson announced the deal Monday, noting that 129 Summit Ave. is a two-story building with an elevator and access to ample public parking. The firm, which was named leasing agent last year, has also helped Devon Partner Properties lease 2,224 square feet to Gratitude Homecare LLC.
