108,000-SF Flex on Sublease Market

MAHWAH, NJ-Liberty Travel is vacating the 108,000-square-foot office/flex building at 440 Franklin Turnpike here, as part of a reorganization of its operational space in Northern New Jersey. The travel agency operator has hired NAI James E. Hanson of Hackensack to market the space on a sublease basis.

For Hanson, Kenneth D. Lundberg, senior vice president, and Scott K. Perkins, managing director of corporate services, are leading the leasing effort. The property is owned by the Woodbridge-based private real estate investment and property management firm Onyx Equities, which also has Liberty Travel as a tenant at eight other office and agency locations besides 440 Franklin.

According to Perkins, Liberty’s move isn’t the result of downsizing. “Liberty’s main building is in Ramsey, and the travel agency has been re-working different functions throughout their facilities, which eventually freed up enough square feet and allowed for the sublease,” he says.