Cushman & Wakefield, together with the Birch Group, on Friday announced they secured multiple leases totaling over 142,000 square feet at Nexus 17, a premier two-building office complex totaling approximately half a million square feet in Paramus.
The completion of these transactions brings the occupancy of the buildings to approximately 96% leased.
Cushman & Wakefield’s David DeMatteis, Benjamin Brenner and Mark Zaziski represented the landlord, the Birch Group, in each of the transactions.
Most notable of these transactions includes a long-term lease for Hospital for Special Surgery, which will occupy 40,062 square feet and allow for the creation of its own self-contained unit within the building. HSS decided to relocate its current facility in Paramus to Nexus 17, which will accommodate the expansion of its footprint and enhance patient access to best-in-class care. HSS was represented by Brian Given, Bryn Cinque and James Bailey of Colliers.
In a related transaction, AT&T, a nationally recognized wireless carrier, extended its lease for 70,953 square feet at the property. The terms included an early reduction of a portion of its space, making way for the HSS lease. AT&T was represented by Marc Rosenberg of Cushman & Wakefield.
Other leases recently concluded include Hall, Booth, Smith P.C., which signed for 20,120 square feet; Dunn Lambert LLC, for 6,604 square feet; and Triple Threat Communications LLC, for 4,725 square feet. Triple Threat Communications was also represented by Cushman & Wakefield’s DeMatteis.
“We are delighted that these prominent companies decided to choose Nexus 17 and we’re thrilled to welcome them to the complex. We acquired these best-in-class assets because of their superior location, high quality improvements and amenities, because we were certain that, with our tenant-first philosophy, they would continue to outperform the market,” Mark Meisner, president and founder of the Birch Group, said.
Nexus 17 is located at the intersection of Route 17 and the Garden State Parkway. The assets recently underwent an extensive capital improvement program, resulting in new lobbies, common areas, fitness center, cafeteria, conference center and a courtyard with outdoor seating and meeting spaces. The properties are managed by AMI Management, an affiliate of the owner.
“We are thrilled to welcome these new tenants to Nexus 17. The Birch Group’s recently renovated the property to provide tenants with an unparalleled work environment, attracting over 140,000 square feet of new leases despite a challenging office leasing environment, demonstrating their ability to remain creative and flexible to meet tenants’ needs,” DeMatteis said.