"This is a testament to the attractiveness of our asset and our ability to structure a transaction within these challenging market conditions," says Michael K. Nevins, vice president of asset management, Onyx Equities. "Ultimately, Summit VetPharm was in search of a space where they would have the flexibility to grow as their company continues to expand." While rental rates were not available, area rents tend to run in the $28 to $30 range.

The Meadows Office Complex is a class A, 577,000-square-foot, two-building office complex located at the Interchange of Routes 17 and 3 in Bergen County. Built in 1981, both buildings within this complex underwent a major $6 million renovation in 2006, which included a new facade and exterior canopies, as well as upgrades to the entry lobbies, landings and cafeteria and the installation of a new on-site fitness center.

Additional amenities include a conference center that accommodates up to 75 people, a coffee shop, concierge service and on-site property management.