130,00-square-foot office building here, owners KABR Real Estate Investment Partners LLC and Capstone Realty Group Inc. have signed more than 14,000 square feet of leases at the property. This past summer, KABR and Capstone first teamed up to buy a vacant, 235,057-square-foot building in Ridgefield Park.
The three deals at 611 Rt. 46 West include: Care Plus' 7,900-square-foot, 10-year lease; the Connecticut School of Broadcasting signing for 4,600 square feet, also for 10 years, and Bearcom's contract for 1,700 square feet for five years. The average rental rates ranged from $18 to $21 per square foot, according to a release from the owners.
With these lease signings, the first floor is entirely occupied. MRH Realty Services is currently marketing over 32,000 square feet of office space, divisible from 2,000 square feet to 20,000 square feet. MRH represented both the landlord and the tenants in the Care Plus and Bearcom deals.
According to KABR partner Adam Altman, "given our cost basis, we are confident that we are offering very competitive rental rates and a high quality asset to tenants looking for well-located Bergen County office space."
Located next to the Hilton Hasbrouck Heights, the building is near the intersection of Route 80, Route 46, and Route 17, offering tenants 30-minute access to Midtown Manhattan, Jersey City, Newark and Westchester County. The property is within a quick commute to Hackensack University Medical Center and the Bergen County Court House as well.
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