549 Cedar Lane in Teaneck — Courtesy: Transwestern
By Joshua Burd
A dance academy has joined the roster at a Teaneck commercial building, following a nearly 3,100-square-foot lease brokered by Transwestern.
In a news release, the real estate services firm said it represented both Tate Academy and the owner, Stonegate Buildings, in the deal at 549 Cedar Lane. Transwestern Vice President Rick Rizzuto negotiated the transaction.
The tenant is a local dance academy that provides professional training, the news release said. Its new home is a 27,000-square-foot mix of office and retail space located in Teaneck’s main business district, with proximity to Route 4, Interstate 80 and the New Jersey Turnpike.
“The tenant was initially attracted to the central location of the property, which is easily accessible from several major highways,” Rizzuto said in a prepared statement. “Cedar Lane is Teaneck’s main commercial corridor, and we’re confident that this property will continue to draw diverse businesses, restaurants and retail.”
Transwestern said the arrival of Tate Academy is fueled by the growth from young professionals and families in the area.
“We are extremely pleased to welcome Tate Academy to 549 Cedar Lane location,” said Steven Gelbtuch, CEO of Stonegate Buildings. “Stonegate remains committed to its investment approach to attract long-term, quality tenants through strategic renovations and securing the most professional leasing agents in the market.
“We look forward to developing a long-term relationship with Tate Academy as they expand their presence in one of our most well-known locations.”
The Cedar Lane building, a former bomb shelter in the early 1940s, offers a dedicated loading dock and freight facilities, the news release said. The property currently has some 13,000 square feet of retail and lower-level space available for lease.