By Joshua Burd
A maker of lab supplies has leased 121,000 square feet at a Mahwah industrial building, in one of several year-end deals announced by Team Resources Inc.
The Lyndhurst-based firm detailed several fourth-quarter transactions, which brought its total activity in 2018 to more than 3 million square feet in leasing volume and 1.3 million square feet in sales volume. Those deals included a lease by Globe Scientific at 400 Corporate Drive in Mahwah, along with VRC Cos. & Vital Intermediary Holdings’ 110,000-square-foot commitment at 250 Passaic St. in Newark.
At 109 Kero Road in Carlstadt, Team Resources brokered an 80,000-square-foot lease extension by Manhattan Door. Seagis Kero LLC was the landlord.
The firm also highlighted a two-building lease extension and renewal at 14 Central Blvd. and 25 Empire Blvd. in South Hackensack.
“The fourth quarter provided a strong close to what turned out to be a year of record revenue for Team Resources,” said Greg Sholom, the firm’s president. “Vacancy rates remain very low across all market sectors. Interest rates appear to be stable, and although there are some uncertainties in the economy, we’re looking forward to another great year in 2019.”
The brokerage highlighted sales transactions including Vexwire’s acquisition of 310 Brighton Ave., a 69,000-square-foot property in Clifton. Also changing hands were a 200,000-square-foot building at 545 North Arlington Ave. in East Orange and a 100,000-square-foot property at 2-62 Wood St. in Paterson.
