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Pinnacle Wireless Leases 30,000 SF

HACKENSACK, NJ-The company will relocate its headquarters from Upper Montclair to Prism Capital Partners' 80 Commerce Way here.

By Eric Peterson | Updated on May 07, 2008

HACKENSACK, NJ-Pinnacle Wireless is about to get a new home. The two-way radio and wireless communications system integrator has leased the entire building at 80 Commerce Way, a 30,000-sf flex building that is owned by Prism Capital Partners. Pinnacle will relocate its headquarters here from the company’s current location in Upper Montclair, a move that is expected to be completed this summer

The deal was arranged for the landlord by Michael Schaible of Jones Lang LaSalle’s Hasbrouck Heights office, who has the leasing exclusive for the property. The tenant was represented by Richard Van Houten of the Van Houten Group, Allendale, NJ. Terms were not released. Space available in the companion 60 Commerce Way building is currently listed with an asking price of $8 to $15 per sf, triple-net.

Both 60 and 80 Commerce Way, which combined total 73,000 sf, were acquired by a partnership headed by Prism Capital Partners in 2005. The property, once entirely occupied by Quest Diagnostics, subsequently underwent a $1.5-million redevelopment that included a new façade and infrastructure, including mechanical and roof upgrades.

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