Cedar Knolls-based Newmark Associates on July 2 announced it recently leased an industrial flex building in Morris County to Pharmvista LLC, a leading manufacturer and distributor of dietary supplement capsules and gummy bears.
Located at 17 West St. in East Hanover, the property consists of a one-story, standalone, flex building with approximately 20,000 square feet of vacant space owned by Commerce Park Investors II LLC, a longstanding client of Newmark.
Deborah Myers, managing director at Newmark, represented both the landlord and tenant.
“For over 20 years I have represented this landlord whose willingness to listen, be creative, and understand the tenant requirements and find solutions to achieve everyone’s goals made for a smooth transaction,” stated Myers.
Situated within a mile radius of shopping, restaurants and a post office near Route 10, the building was constructed in 1968 and features three loading docks, 14-foot ceiling heights, air conditioning, 40 onsite parking spaces, 24/7 access, and an onsite property manager.
“Industrial flex space is in such high demand now that when a building/space comes on the market, the need for velocity from all parties is critical in securing the space and bringing the transaction to fruition,” Myers continued.