Colliers on Monday said it secured leases for four tenants totaling 36,000 square feet of space at a 177,820-square-foot, Class A office building in East Hanover.
Located at 120 Eagle Rock, the building is now almost 90% occupied. Each lease is for five to 10 years, ensuring long-term stability for the building owner.
Colliers Executive Managing Director Samuel Horowitz represented ownership, Northeast Capital Group, in the transactions.
The property features an updated lobby and modern common areas, as well as other amenities, including a full-service café with outdoor seating, multiple conference rooms and a fitness center with weight/cardio machines and locker rooms. The three-story building also includes several leading coworking amenities. Additionally, there are nearly 600 parking spaces, on-site FedEx and mail drop boxes and 24-hour secure key card access with an after-hours security guard.
“We were pleased to work with Northeast Capital Group to capture the momentum and enthusiasm that has been rising for a return to the office,” Horowitz said. “The New Jersey office has been well on its way to recovery over the past year, and we expect the market will resume a positive momentum in the coming months.”
“The activity that we have seen at 120 Eagle Rock speaks to the quality of the building, the attentiveness of property management and the efforts of our brokers,” Joel Kiss, CEO, Northeast Capital Group, said. “We are pleased to welcome our new tenants as several companies in New Jersey begin to return to the office in earnest.”
The property is centrally located in eastern Morris County between exits 1 and 4 off of Interstate 280 with immediate access to Interstates 80 and 287.
Pillar Care Continuum was represented by Curtis Foster and Jerry Shifrin from Cushman & Wakefield. Kingdom Financial was represented by David DeMatteis and Mena Shehata from Cushman & Wakefield. Additionally, Eastgate Group was represented in-house, and Paris Ackerman was represented by Barbara Gross from Sheldon Gross Realty.