200 Wanaque Ave. in Pompton Lakes — Courtesy: Alexander Anderson Real Estate Group
By Joshua Burd
The broker for a 29,000-square-foot office building in Pompton Lakes is marketing its potential as an ideal incubator space in the borough’s downtown redevelopment zone.
The firm, Alexander Anderson Real Estate Group, has been named leasing agent for 200 Wanaque Ave. and said it is pitching the Class B office building to small businesses. Located in Pompton Plaza, the building offers flexible lease terms, below-market rent, blocks of space that range from 525 to 6,000 square feet, shared offices services and other incentives.0
“This incubator property offers affordable, private office space in a supportive environment that can foster business growth and success,” said Eric Anderson, CEO of Alexander Anderson. He added that Pompton Lakes, a borough of more than 10,600 residents and 2,000 jobs, “is ideally suited for the small business owner that is poised to launch and grow their enterprise.”
The Hackensack-based firm said tenants such as Mary Kay Cosmetics, Kubisys and Prime Time Toys have already accounted for 10,000 square feet of leasing activity at the property. Vacancy rates in the area are at 12.3 percent for other Class B office properties, Anderson said.
“However, we created this flexible, very affordable and unique concept in an effort to offer a product that will stand out in this marketplace,” he said. “As a result, we anticipate continued demand for the space by small business owners in the area.”