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Cofinance Begins Marketing Former HQ

CARTERET, NJ-The company is actively seeking tenants for the former Pathmark headquarters building, which it recently purchased for $15 million.

By Brianne Harrison | Updated on July 02, 2008

CARTERET, NJ-Cofinance Inc. has begun marketing the former Pathmark headquarters at 200 Milik St. here. The company purchased the property from Lexington Realty Trust for $15 million. The building had been 100% occupied by Pathmark, which has an absolute net lease for the property through December 2011.

After Pathmark was acquired by A&P in Dec. 2007, however, the company vacated the property. James Maurer, president of Cofinance, tells GlobeSt.com that Cofinance has struck a deal with Pathmark whereby Cofinance will manage the property on Pathmark’s behalf for the remainder of the lease and will be able to re-tenant the building immediately. Joe Sarno, a broker in the Edison, NJ office of Cushman & Wakefield, will handle leasing on Cofinance’s behalf.

“The opportunity to have a building in the northern part of the Woodbridge market with a tenant that had vacated and was willing to work with us to re-lease the property made it a very attractive prospect,” says Maurer. “There are very few large blocks of space within the Woodbridge market, and this creates an opportunity for people who want easy access to Woodbridge, the New Jersey Turnpike and New York City.”

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