ENGLEWOOD CLIFFS, NJ-LG Electronics, Unilever and COFCO USA have all renewed their leases for long terms at Sylvan Corporate Center here, accounting for nearly 100,000 square feet.
LG Electronics, which began work on a new headquarters office atop the Palisades cliffs here last fall, renewed for 67,000 square feet.
Unilever renewed for 27,000 square feet and COFCO for 4,000 square feet at the four-building campus, which has about 260,790 square feet total and is owned by New York City-based developer The Andelex Group. It also houses Whole Foods, IBM and LG Chemical.
Newmark Grubb Knight Frank's Frank D. Recine, Blake J. Goodman and Kenneth N. Porreca serve as long-term leasing agents for the center.
In the lease transactions, LG was represented by Cushman & Wakefield's James Frank and Dan Johnson. Unilever was represented by C&W's Curtis Foster and COFCO by CBRE's Dorothy Chuang.
Recine says that the complex has been 98% occupied since it was completed in 2007, despite vacancy having risen recently in the Bergen County submarket to 22.7%. “The strategy has been to provide the highest level service to the tenants, staying ahead of their real estate needs,” he said.
When 930 & 940 Sylvan Avenue were added to the campus in 2007, it was the first new development of speculative corporate space in Englewood Cliffs in over 25 years. The buildings have on-site food service, covered parking and on-site management.
The Sylvan center is set three miles north of the George Washington Bridge, close to Interstate 80, the New Jersey Turnpike), Routes 4, 46, 1 and 9, the Garden State Parkway and if is directly off the first exit on the Palisades Parkways.
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