TOTOWA, NJ—Did they take the space for its nooks and crannies? ADT Security Services has leased nearly 46,000 square feet of office space at ATCO Properties & Management’s 930 North Riverview Drive, the former home of a Thomas’ English Muffin bakery.
The 226,000-square-foot building in the Totowa Business Center has been converted by owner/manager ATCO into office and high-tech flex space. The lease is for eight years and five months. The rate was not disclosed, but asking rates for industrial space range from $4.95 per square foot to $8.62 per square foot, and office rents from $6.50 per square foot to $10 per square foot, according to LoopNet.
“Northern New Jersey is a hot market for this kind of versatile, high-tech space,” says Peter L. DiCapua, ATCO’s COO, in a statement. “Our facility is ideal for companies looking for office space that offers a light industrial component. ADT will surely benefit from the digital capabilities our facility provides.”
The building features state-of-the-art fiber optic telecommunications capabilities and ISDN-dedicated digital lines as well as solar power and uninterruptable power sources. 930 North Riverview Drive is near Routes 23 and 46 and Interstate 80, and accessible to Route 3, the Garden State Parkway and New Jersey Turnpike. Stephen Sander, a senior associate of CB Richard Ellis, represented ATCO, while Henry Johnson, EVP and Brian Godau, VP of CBRE represented ADT.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
