Global commercial real estate advisory firm Newmark is pleased to announce the execution of a lease renewal for 35,000 square feet of office space at 121 Chanlon Road in New Providence, NJ, on behalf of property owner Signature Acquisitions, a real estate development company with over $300 million in asset value.
The Newmark team led by Associate Director Dan Reider, working closely with Eric Zabarkus and Rich Travaglini of Signature Acquisitions, secured the lease extension of tenant Martindale-Hubbell, which provides marketing and information services to the legal profession and is a division of Internet Brands, a KKR portfolio company.
The property at 121 Chanlon Road is a four-story office building totaling 111,000 square feet. The building features a brick façade, indoor atrium-style lobby, outdoor patio, a full-service cafeteria and covered parking. It is also conveniently located within brief walking distance to multiple food, fitness, and retail options, as well as NJ Transit’s Murray Hill Train Station, which provides direct commuter rail service into New York City. Situated just off Interstate 78’s Exit 43 and the Route 24 Freeway with ample parking, the property is an ideal location for today’s workforce.
Martindale-Hubbell is joined in the building by a strong tenant roster that includes Summit Medical Group and Stafford Communications.
“Ownership is happy to further extend Martindale Hubbell’s long-term tenancy at 121 Chanlon Road,” said Reider. “Their decision to renew is a testament to the building’s transit-oriented and amenity-rich location, as well as the professionalism and attentiveness Signature Acquisitions brings to the property.”
The tenant was represented by Jim Medenbach, managing director, and Charlie Dillion, executive vice president of JLL.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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