Stro completes 45K sq. ft. of new leasing activity in Elmwood Park

By Emily Bader
Elmwood Park | Oct 5, 2018 at 11:44 am

The Stro Cos. announced it has recently completed 45,000 square feet of new leasing activity in Elmwood Park.

The leases, three in total, were all at the same industrial property located at 475 Mola Blvd.

The leases were signed with Best Value Kosher, Achieve Fitness and Digirad Corp.

“We knew when we acquired this property it would be instantly demanded by tenants. A functional superstar with near direct access to Interstate 80, Route 46 and the Garden State Parkway, we leased 90 percent of the available space a week after closing” Todd Minerley, director of acquisitions and leasing, said.

“The market has responded almost instantly to our repositioning plan for this asset. Over the last three years we have refined the implementation of our repositioning and marketing strategies to maximize the speed of new acquisition leasing. We are quite pleased to have accomplished so much, so quickly” Michael Lachs, director of finance and investments, said.

The largest lease was Best Value, a distributor of kosher dairy products. The company is relocating from Newark and will be converting a majority of its warehouse space to cold storage areas and USDA rooms.

Jeff DeMagistris, Thomas Vetter, Thomas Ryan, all of NAI James E. Hanson, were part of the brokerage team for the property.

Digirad, a provider of diagnostic and imaging equipment to the health care industry, was represented by Harold Imperatore of JLL.

Emily Bader | ebader@roi-nj.com | emilybader