Colliers arranges long-term office leases in East Hanover

An office property in East Hanover secured 36,000 square feet of space, bringing the building to nearly 90% occupied.

That’s according to Colliers, which arranged and announced the four leases for 120 Eagle Rock on May 9, each covering term lengths of from five to 10 years.

Colliers Executive Managing Director Samuel Horowitz represented building ownership, Northeast Capital Group, in the transactions. The firm was tapped as exclusive leasing agent for the 177,820-square-foot Class A office building in the summer of 2020. Northeast Capital acquired the property in February of that year.

“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 in a prepared statement. “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.”

120 Eagle Rock’s new tenants are:

• Nonprofit Pillar Care Continuum, providing lifelong support for people with disabilities;
• Financial services company Kingdom Financial;
• Boutique law firm Paris Ackerman LLP, which focuses on sophisticated franchise transactions; and
• Construction service company Eastgate Group.

“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,” said Joel Kiss, CEO Northeast Capital Group. “We are pleased to welcome our new tenants as several companies in New Jersey begin to return to the office in earnest.”

Amenities at the building include a full-service café with outdoor seating, conference rooms and a fitness studio. Workplace @ 120 Eagle Rock also offers coworking amenities, like free WiFi and meeting spaces. There are 600 parking spaces for the three-story building, on-site FedEx and mail drop boxes and 24-hour secure key card access with an after-hours security guard.

According to Colliers, just 12,000 square feet of space remains available at the building.

Pillar Care Continuum was represented by Cushman & Wakefield’s Curtis Foster and Jerry Shifrin, and Kingdom Financial was represented by Cushman & Wakefield’s David DeMatteis and Mena Shehata.

Eastgate Group was represented in-house and Paris Ackerman was represented by Barbara Gross from Sheldon Gross Realty.