Lease Expansion and Renewal at Alfred Sanzari Enterprises' Elmwood Park Plaza
By Mel Fabrikant Thursday, September 02, 2010, 02:04 PM EDT
Alfred Sanzari Enterprises, one of Northern New Jersey's oldest and most respected real estate owners and developers, has announced the completion of a 17,000-square-foot lease expansion with BioReference Laboratories Inc. and a 4,167-square-foot lease renewal with Medhealth Management Inc. at Elmwood Park Plaza, bringing occupancy at the 64,000-square-foot office building to more than 90 percent.
The lease expansion will accommodate the growing operations of BioReference Laboratories, Inc., the third largest full-service laboratory in the United States and the largest independent regional laboratory in the Northeastern market. In addition to BioReference Laboratories Inc.'s expansion, Medhealth Management Inc., a private health care management company, renewed its 4,167-square-foot lease at Elmwood Park Plaza. Christopher Olsen of Newmark Knight Frank represented the tenant and Alfred Sanzari Enterprises represented itself in both transactions.
"With capabilities for office, warehouse and distribution, as well as easy access to Route 80 and the Garden State Parkway, Elmwood Park Plaza is well positioned for companies with multifaceted and evolving needs, such as BioReference Laboratories and Medhealth Management Inc.," said Jerry Barta, vice president and director of leasing and marketing for Alfred Sanzari Enterprises. "Both companies' recent expansions and renewals reflect our organization's ability to meet the changing needs of our tenants."
Elmwood Park Plaza, located at 475 Market Street in Elmwood Park, N.J., is part of a 274,000-square-foot corporate park, featuring 210,000 square feet of laboratory, warehouse and distribution space and 64,000 square feet of office space. The complex's location provides easy access to I-80, the Garden State Parkway, Route 46 and other major highways.
For additional information regarding other leasing opportunities at Alfred Sanzari Enterprises' Elmwood Park Plaza, please contact Frank Pratt at 201-968-4816
The lease expansion will accommodate the growing operations of BioReference Laboratories, Inc., the third largest full-service laboratory in the United States and the largest independent regional laboratory in the Northeastern market. In addition to BioReference Laboratories Inc.'s expansion, Medhealth Management Inc., a private health care management company, renewed its 4,167-square-foot lease at Elmwood Park Plaza. Christopher Olsen of Newmark Knight Frank represented the tenant and Alfred Sanzari Enterprises represented itself in both transactions.
"With capabilities for office, warehouse and distribution, as well as easy access to Route 80 and the Garden State Parkway, Elmwood Park Plaza is well positioned for companies with multifaceted and evolving needs, such as BioReference Laboratories and Medhealth Management Inc.," said Jerry Barta, vice president and director of leasing and marketing for Alfred Sanzari Enterprises. "Both companies' recent expansions and renewals reflect our organization's ability to meet the changing needs of our tenants."
Elmwood Park Plaza, located at 475 Market Street in Elmwood Park, N.J., is part of a 274,000-square-foot corporate park, featuring 210,000 square feet of laboratory, warehouse and distribution space and 64,000 square feet of office space. The complex's location provides easy access to I-80, the Garden State Parkway, Route 46 and other major highways.
For additional information regarding other leasing opportunities at Alfred Sanzari Enterprises' Elmwood Park Plaza, please contact Frank Pratt at 201-968-4816
