Cedar Knolls, N.J., August 27, 2018 – Newmark Associates has leased 12,500 SF of creative professional space at 2607 New York Avenue in Union City, New Jersey.
Peter Caraballo, Vice President/Sales Associate, and Charles Ritschel, Senior Sales Associate, managed the leasing of the building on an exclusive basis for the landlord, Dennis J. Mosner Photography, Inc. and the new tenant, SwagUp, LLC, creators of promotional and marketing collateral.
“This transaction is a perfect example of the combination of the strength of the New Jersey Commercial Real Estate Market and the effective marketing of the Newmark team – lease signing was only 35 days after the first site tour,” remarked Mr. Caraballo, “establishing an upward trend for lease comps.” The marketing of this property has created an increase in the stream of tenants for properties currently being marketed by Newmark Associates.
The lessee was attracted to the property because of the layout of the interior space and its location – less than 1.8 miles from the Lincoln Tunnel. Also near the 123 bus line, the property is approximately a 20-minute ride to Port Authority Bus Terminal in New York City. Future plans include purchasing the property.
Mr. Caraballo and Mr. Ritschel are currently marketing a comparable building for lease located at 216 19th Street in Union City. Please call them for further information at 973.884.4444.
Newmark Associates CRE, located in Cedar Knolls, New Jersey, has earned recognition as one of the top real estate brokerage companies by NJBIZ magazine, and the CoStar Commercial Real Estate organization. Specializing in lease and sales transactions of office, industrial, retail, land, healthcare and mixed-use properties, Newmark Associates customers range from regional, entrepreneurial firms to Fortune 500 companies. Certified as a woman-owned business by the Women’s Business Enterprise National Council, Newmark Associates is registered as a Supplier Diversity provider with corporate members.