SADDLE BROOK, NJ—Old Dutch International, an online retailer of cookware and home-furnishing items has decided to stay put in its current headquarter location. The company felt comfortable renewing its 31,550-square-foot lease here to keep things status quo as the economy continues to stabilize, Steven Leitner, an NAI James E. Hanson vice president who represented the landlord in the lease renewal, tells GlobeSt.com.
“Like most companies, they are willing to stay put unless their needs have changed for a dramatic reason.” Leitner explains, saying that they are waiting for a time to do more hiring and expansion. “It's a company that was struggling for a couple of years, so they started selling directly on the Internet, and their business increased.”
Old Dutch's space is located at 421 North Midland Ave. and owned by private entity Wilbur '96. The retailer also wanted to stay put in the space because "adequate amount of office space" and high ceilings.
Kenneth Lundberg, a senior vice president at NAI Hanson, worked with Leitner on the Old Dutch transaction. Earlier this summer NAI Hanson sold a 1.1-acre site at in Parsippany, NJ, for the owner of the property to the owner of Advance Auto Parts.
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