Hitting The Mark: JLL continues leasing momentum in Rockaway

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As a flight-to-quality persists in the office sector, a recently repositioned Class A building in Rockaway is continuing to attract new tenants, including the New Jersey Education Association.

On June 2, JLL exclusively revealed to NJBIZ that the real estate service firm arranged three new leases at The Mark, a seven-story, 237,087-square-foot office building located at 100 Enterprise Drive on behalf of owner Northbridge Capital Inc.

The leases:

• The NJEA signed a long-term lease for 8,438 square feet on the first floor of The Mark, making a move from Parsippany, according to JLL.
• Polaris Pharmacy Services, a Fort Lauderdale-based long-term and post-acute care pharmacy, will set up its first New Jersey office at the building, signing on for 9,925 square feet on the fifth floor.
• An unnamed professional services company rounded out the trio of deals, signing a lease for 2,259 square feet on the building’s second floor.

JLL Executive Vice President Chris Conklin, Executive Managing Director Dan Spero and Brokerage Coordinator Maria Casaliggi represented Northbridge Capital in the transactions. Newmark Managing Director Dan Reider represented NJEA. Representation for Polaris and the professional services company was not disclosed.

“The continued leasing momentum at The Mark is a testament to the commitment of a best-in-class institutional landlord to create a superior tenant experience in a well-located, high-quality suburban office building,” Conklin said. “With our ability to provide turn-key solutions that make the tenant relocation process as smooth as possible, we anticipate continued interest from high caliber tenants seeking space in highly amenitized, professionally managed properties.”

Northbridge Capital acquired the Morris County property in 2018, tapping JLL to lead leasing that same year. In addition to its rebranding, The Mark underwent a multimillion-dollar renovation that modernized the lobby, elevators and entrance, which features a two-story atrium, reflective glass and granite façade.

Since coming on board, the JLL team has secured more than 60,000 square feet in leases at the property, representing a diverse roster of tenants ranging from the financial sector to engineering and technology. That eclectic mix is reflective of the area as well, which JLL pointed out is a draw for the biotechnology industry (Novartis calls nearby East Hanover home) as well as the IT industry. The firm said 22,000 jobs in that space operate from the region, which has attracted leaders in the aerospace and defense sectors, including General Dynamics and L-3 Space & Navigation.

“We are delighted to welcome three more new tenants to The Mark, where our commitment to providing a best-in-class working environment for dynamic tenants continues to engage the local brokerage community,” said Northbridge Managing Partner Michael Lazier. “The property provides an attractive option in a market where tenants seek high quality office space in a prime location surrounded by retail.”

While the office sector has been the topic of much scrutiny, particularly coming out of COVID-related work-from-home transitions, according to JLL’s first quarter New Jersey Office Insight report, newly constructed and recently renovated buildings continue to attract tenants, as evidenced at The Mark.

Along with the recent renovations, the building offers occupiers proximity to national and local retail offerings, including at the Townsquare Mall, in addition to hotels and entertainment options. It is flanked by two major roadways: Interstate 80 and Route 46.

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