WAYNE, NJ-APF Properties, the new owners of Wayne Solar Center at 1655 Valley Rd., have named Cushman & Wakefield as the leasing agent for the 157,000-square foot office building here, where solar panels are planned.

APF, which acquired the building from a joint venture of Prism Partners and New Boston Fund for $14.2 million in January, is constructing a one-megawatt carport photovoltaic installation to provide electricity to the building. “Our plan is to take this property beyond its current perch as the best building in its market,” says Kenneth Aschendorf, co-founder of New York City-based APF Properties. “Our intent is also to undertake other environmentally sustainable initiatives and to pursue LEED certification.”

C&W’s Dan Johnsen and James Frank of its East Rutherford, NJ office will market the entire 40,000-square-foot top floor for lease. “Wayne Solar Center is ideal for companies looking to support a corporate culture focused on environmental stewardship,” Johnsen says. “Add to that the chance for a smaller user to tie its brand directly to the building by way of prominent signage, and the opportunity becomes even more attractive.”

Ownership is promoting an aggressive rent structure, including a full concession package. Rents in Wayne range from $13.50 per square foot to $22 per square foot, according to LoopNet, with one building offering one-year free rent.

“As new owners utilizing conservative debt leverage, we are financially solid,” Aschendorf says. “This gives us the financial strength to be extremely competitive within the marketplace. We have the ability to be creative with prospective tenants in structuring leases to accommodate their needs and to turn this building into a 100% occupied asset.”

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