ADT Secures 10-Year Lease Extension in Totowa

Totowa Business Center, 930 Riverview Avenue, Totowa, NJ

TOTOWA, NJ— ADT Security Service is locking itself into a 10-year lease extension at Totowa Business Center , a 225,000-square-foot mixed-use building at 930 Riverview Drive in Totowa. The building is owned by Tulfra Real Estate . Tom Consiglio, Gregg Sabato and Scott Peck of Resource Realty represented Tulfra in the transaction. ADT , which will continue to occupy Suite 800 at the site, was represented by Brian Godow of CBRE . “The purchase of this facility fit into our strategy of investing in upscale corporate/technology and e-commerce buildings,” says Sonny Jumani , president and managing member at Tulfra . “We immediately launched a $3 million improvement program that included retrofitting the industrial appearance of the front section, and this long-term extension with ADT verifies our effort.” ADT , a national provider of home and business security products and 24-hour alarm monitoring, first took space in the building in 2011. That lease was slated to expire in 2020, so with the extension, ADT will remain in the property through 2030. Originally constructed in 1962 and redeveloped in 1998, the property is situated on 17.38 acres at the intersection of I-80 and Routes 46 and 23. The site provides more than 800 parking spaces and is near the region’s major business districts, just 17 miles from New York. “The strategic, high-traffic location is ideal for business operations,” says Jumani . “This market continues to be constrained for this type of asset, and we are seeing a great deal of interest in the availabilities that remain in the front portion.”