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Cushman & Wakefield Completes Lease-up of New Jersey Office Building

| April 15, 2015 | 0 Comments

Cushman & Wakefield of New Jersey, Inc.102 Chestnut Ridge
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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Represents JD Companies in Bringing Montvale’s 102 Chestnut Ridge Road
to Full Occupancy

MONTVALE, N.J., Apr. 15, 2015 – The 51,200-square-foot 102 Chestnut Ridge Road office building in Montvale was acquired by JD Companies less than a year ago, and with the signing of a new 11,000-square-foot lease, Cushman & Wakefield has completed the lease-up of the class A property. The firm’s East Rutherford, N.J.-based Daniel Johnsen represented JD Companies in the latest transaction, one in which Ivy Equities is relocating its headquarters to the site. Ivy was represented by Sean Morley of CBRE in the long-term lease.

Since acquiring the building in 2014, JD Companies itself has relocated its headquarters to the site. The company, with more than 40 years of experience, is headed by James R. D’Agostino, president, Jim D’Agostino, Jr., vice president and nephew Garret D’Agostino. Among JD’s previous projects are Continental Plaza and Riverfront Plaza in Hackensack, N.J., and International Crossroads in Mahwah, N.J.

“The fact that they had recently acquired 102 Chestnut Ridge Road and we were able to complete the lease-up so quickly is important to note,” said Johnsen. “This building is the only fully-leased multi-tenant office building in Montvale, which speaks for itself in terms of the building, its location and the ownership.

Originally constructed in 1980 and renovated in 2001, the building is about to undergo additional upgrades. “The ownership is set to launch a renovation of all common areas, including the lobby, rest rooms and corridors,” said Johnsen.

102 Chestnut Ridge Road provides direct access to the Garden State Parkway and is minutes from I-287, I-87 and the New York State Thruway.

“This building’s features and location met all of our requirements perfectly,” said Anthony DiTommaso, Jr., co-CEO of Ivy Equities, which is relocating its New Jersey headquarters within Montvale. “We required additional space, considered a number of locations, and 102 Chestnut Ridge Road was certainly the best option. We look forward to a long relationship with JD Companies, whose ownership track record speaks for itself.”

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