Florham Park, NJ – Cushman & Wakefield announced it has brokered an expanded sublease with a multinational professional services and information technology company at 12 Vreeland Road in Florham Park. The rapidly growing company, which subleased 26,556 square feet in the Class A office property in June 2019, has taken an additional 29,974 square feet and now occupies the entire first floor (56,530 square feet).
A Cushman & Wakefield team of William O’Keefe, Charles P. Parmelli and Kelsey Nakamura represented the sublandlord, Gerber Products Company (Nestlé), in the transaction. The tenant was represented by John Cunningham and Fred Hyatt with JLL. The KRE Group is the landlord of the two-story, 139,750-square-foot asset, which was recently renovated.
“This tech-oriented tenant quickly outgrew its initial sublease space in the building,” said O’Keefe. “The company continues to see tremendous value in the existing infrastructure and configuration, which is essential to operating the business. The space is also fully furnished, which has allowed the tenant to be up and running quickly.”
Cushman & Wakefield continues to market the remaining 83,220 square feet on behalf of Nestlé, which previously occupied the entire building and has kept it well-maintained over the years. “Space available for sublease includes the entire second floor, which is fully furnished, has a dedicated entrance and multiple branding opportunities,” noted O’Keefe.
Features include an on-site cafeteria, an above-market parking ratio of 4.4/1,000 square feet, back-up generator, loading dock and ample collaborative areas to accommodate the modern workforce. The property is also within walking distance of Lifetime Fitness and offers easy access to commuter bus and rail lines.
Located in close proximity to downtown Florham Park and Livingston, 12 Vreeland Road is convenient to major roadways, including Route 24, Route 10, I-287 and I-80, minutes from the Morristown Airport and 20 miles from Newark Liberty International Airport.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.