WOODBRIDGE, NJ—Onyx Equities LLC has signed three new long-term leases totaling 66,000 square feet with high-caliber tenants at Onyx-owned and managed properties located throughout New Jersey. The completed transactions include a 39,200-square-foot lease with Sony Music; a 17,457-square-foot lease with Artech Technologies; and a 9,500-square-foot lease with PNC Wealth Management.
“These recent leases reflect the appeal of our strategically located, high-quality owned and managed office properties among leading-edge companies across a diverse range of industry sectors,” says Adam Karafiol, Senior Vice President Leasing, Onyx Equities. “Through our adoption of cutting-edge building management technologies, we are able to provide our tenants with a better workplace experience that supports their operational needs and positions them strongly for continued growth. We look forward to delivering on that promise for Sony Music, Artech Technologies and PNC Wealth Management.”
Sony Music is taking one-and-a-half floors at Onyx's 301 Route 17 North in Rutherford, NJ, to house several of its business divisions. Onyx recently completed several upgrades to the modern Class A office plaza, including renovations to the property's courtyard, parking, landscaping, sight signage and interior common areas. In addition to a cafeteria that seats 400 people, the building features a conference center with a seminar room, a fitness center, on-site day-care and on-site management. Sony Music selected the property for its premier amenities and efficient floor plates, as well as the attractive deal terms. The new lease will enable the company to consolidate its Manhattan and Lyndhurst operations into one location that is convenient for both its New York City and New Jersey workforce. Dan DePalma of JLL represented Sony in the transaction.
One of the country's fastest-growing woman-owned companies, Artech Technologies was looking for a state-of-the art location to accommodate its ongoing expansion. The company is relocating its corporate headquarters from Cedar Knolls, NJ, to Onyx's Mount Kemble Corporate Center at 360 Mt. Kemble Avenue in Morris Township, NJ. The 229,500-square-foot property is situated on 38 acres that features a three-acre pond. Recognized as one of New Jersey's premier office buildings, the property is a five-minute drive from the county courthouse, a train station and an assortment of hotels and restaurants. Savills Studley managing director Chris Marx represented Artech in the transaction.
Looking to build a presence in the Ridgewood, NJ, market, PNC Wealth Management is relocating from the Paramus Country Club campus to a larger space at Onyx's historic Sealfons Building, located at 257 E. Ridgewood Avenue in Ridgewood, NJ. One of the most recognizable buildings in Ridgewood, the Sealfons features on-site parking and is located within walking distance of the town's train station and high-end retail district, featuring many highly regarded restaurants. PNC Wealth Management is now the anchor tenant of the soon-to-be renovated property. David Simson, a vice chairman with Newmark Grubb Knight Frank, represented the tenant in the transaction.
Headquartered in Woodbridge, NJ, Onyx Equities LLC is a leading private real estate investment, management and development firm. Since its founding in 2004, Onyx has acquired more than $1.5 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut. The company currently owns, manages or is the appointed Receiver for 35 million square feet of office, retail, industrial, and self-storage properties. The company's rapidly growing Receivership and REO portfolio has recently expanded into 22 states along the east coast.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
