A leading manufacturer of orthotic footwear has been expanding its footprint in North Jersey with 135,874 square feet in combined leasing activity arranged by Resource Realty of Northern New Jersey. OrthoFeet Inc. also is taking possession of an additional 52,000 square feet of warehouse space in the area this month.
In a series of tenant-representation assignments, Resource Realty Vice President Dan Whitehead completed three separate long-term lease agreements of 71,870 square feet at 335 Chestnut St. and 52,108 square feet at 10 Maple St., both in Norwood, with an additional 11,896 square feet at 240 Pegasus Ave. in Northvale. The latter is owned by Maxum Realty Trust and serves as the headquarters for the tenant. Ownership of the two Norwood properties is Alfred Sanzari Enterprises.
“These lease agreements speak to OrthoFeet’s commitment to remaining in place in the Norwood-Northvale area and expanding their presence within this uppermost northeastern quadrant of Bergen County,” said Whitehead, who has been with Resource Realty since 2009 and specializes in tenant and landlord representation assignments throughout New Jersey. “Since a majority of the company’s employee base resides throughout Bergen County and southern Rockland County, it was a priority for OrthoFeet to retain its presence and grow in the market where the company first got its start.”
According to Whitehead, the six-acre 335 Chestnut St. property is located within the Norwood Industrial Park and houses OrthoFeet’s primary warehouse/distribution operations. The company occupies nearly two-thirds of the multitenanted building, which offers immediate-area access to the Palisades Interstate Parkway and New York State Thruway, linking to the Garden State Parkway, Interstate 287, George Washington Bridge and Gov. Mario M. Cuomo Bridge.
At the 10 Maple St. property, which sits adjacent to 335 Chestnut, OrthoFeet’s full-building lease marks the company’s strategic warehouse and administrative office expansion. The single-story industrial-flex building features a host of amenities sought by industrial users, including tailgate loading docks.
Rounding out Resource Realty’s OrthoFeet leasing activity is 240 Pegasus Ave., a flex multitenanted building in neighboring Northvale. The property is situated near the intersection of Pegasus Avenue and Livingston Street, the borough’s main thoroughfare with an array of lifestyle conveniences and dining options, including a McDonald’s, ShopRite, UPS Store, T-Mobile, Verizon, Dunkin, Jersey Mike’s, Panera Bread and Starbucks.
