Bergman RE closes 77 leases in 2022’s first half

Jessica Perry//August 5, 2022

Bergman RE closes 77 leases in 2022’s first half

Jessica Perry//August 5, 2022

In April, Bergman Real Estate announced securing two leases at 7 Giralda Farms in Madison. Those deals, it turns out, were two out of a total 77 the Woodbridge-based firm closed in the first six months of 2022.

“This impressive rate of transactions is on pace to exceed 2021 and demonstrates how we are committed to bringing the best available amenities and services to our tenants,” President and CEO Michael Bergman said in an Aug. 4 announcement about the milestone.

Taking a closer look, Executive Director of Leasing and Marketing John Osbourne said a lot of that activity can be traced to Bergen County, where Bergman RE owns and manages five properties. He described the North Jersey county as a “thriving hub for businesses.”

“[A]nd this hub continues to grow,” Osbourne added, “driven by its proximity to retail, services, major highways, and New York City.” He also pointed to the influx of new residents moving to Bergen County, further contributing to the area’s large talent pool.

Case in point

In Rochelle Park, the Sherbrooke Office Center II at 201 W. Passaic St. and 365 W. Passaic St. accounted for 10 of the firm’s lease transactions: the former produced five overall (three renewals and two multiyear leases), while the latter property gained three new tenants and posted two renewals.

7 Giralda Farms

7 Giralda Farms, Madison

Wilson Elser Moskowitz Edelman & Dicker LLP: 11-year lease for 17,356 square feet

BEM systems: 8-year lease for 10,800 square feet

“For both new and renewing tenants, the accessibility of office spaces like 201 W. Passaic St. and 365 W. Passaic St. is one of the first features that attracts tenants to us,” said Senior Director of Leasing and Marketing Isabel Freire. Both are minutes from major roadways – Routes 4 and 17, the Garden State Parkway and crossings into New York City – and shopping spots, like Westfield Garden State Plaza.

“Then, they tour the buildings and see all the renovations we’ve made and amenities we’ve introduced, and tenants know they’ve found the perfect office space for their businesses,” Freire added.

In Princeton, the firm completed a $4 million improvement program at 500 College Road E. earlier this year, announcing 6 leases comprising more than 27,700 square feet in March.

In June, the company said it was teaming up with Better Spaces to further boost the benefits offered at a select number of its properties.

“Through initiatives like Bergman Cares that bring amenities that prioritize employee well-being, to significant capital investments that renovate our properties from top to bottom, our tenants appreciate the work put into each property we own and manage in New Jersey,” Bergman said.