Transactions Demonstrate Continued Interest in Class A Office Complex Despite Pandemic

CBRE announced today four lease transactions at Park 80 West Plazas I and II in Saddle Brook, New Jersey. Comprising lease renewals, expansions and new deals, the transactions are indicative of the strong demand for quality office space at the complex even during the pandemic.

The CBRE team of Donald Sperling and Robert Norton spearheaded the leasing campaign at the Class A complex and represented the ownership, Lionstone Capital Management.

The completed deals include a 24,742sq.ft. lease expansion and extension by Eastern Concrete Materials on the entire fifth floor of Plaza I. Van Houten Corporate Realty represented the tenant in the negotiations.

Symrise Inc.renewed its 21,062sq.ft. lease on the second floor of Plaza I, while Robert Half International renewed its 11,867sq.ft. lease on the fifth floor of Plaza II. JLL acted on behalf of both tenants.

Finally, Turner Surety and Insurance Brokerage, represented by CBRE’s Carl Eriksen, inked a new 6,823sq.ft. lease for a portion of the third floor at Plaza I.

“These four new commitments at Park 80 speak to the high-quality office space available at the complex,” said CBRE Senior Vice President Donald Sperling. “Park 80 continues to attract many of the region's top corporate tenants, even during these unprecedented times in our industry.”

Situated at the crossroads of the Garden State Parkway and Interstate 80, Park 80 is one of the premier buildings in the market, offering tenants an abundant amenity package and ease of access from any point in the Tri-State area. The 510,126 sq.ft., two-building office complex is leased to a diverse tenant roster that includes high credit companies like New York Life, Regus, Mass Mutual, Marsh & McLennan and JPMorgan Chase & Co.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.