By: Eric Peterson
WOODBRIDGE, NJ - Chase Manhattan Mortgage Corp. has renewed its existing lease and expanding by an additional 15,134 sf, bringing its total occupancy to 29,781 sf at Plaza 9, 900 Route 9 North here. The asset is owned by the Montvale, NJ-based Ivy Equities. The new lease runs for a five-year term.
CMMC was represented in the transaction by TJ Russo and John Potter of GVA Williams, while Marion Geddes of Ivy Realty, Ivy Equities’ brokerage arm, represented the owner. The deal, which involves space on the first, fourth, fifth and sixth floors of the six story asset, brings the 110,000 sf Plaza 9 to 100% occupancy.
The building, which sits on a 5.6 acre site, has a tenant roster that also includes the Schultz Organization/TCN Worldwide, Jobel Management Corp., Garden State Hospitalization, ATX Telecommunications and Export Import Service Inc. Plaza 9 is part of a 3.6 million-sf portfolio owned and managed by Ivy Equities in New Jersey, New York and Connecticut.
About Ivy Realty
Founded in 1996, Ivy Realty, a wholly owned subsidiary of Ivy Equities, is a leading real estate investor and developer throughout New Jersey, New York and Connecticut. Ivy targets investment opportunities in undervalued, high grade, income producing commercial properties. The Company has built a reputation for successfully completing a wide spectrum of creative developments in the office, mixed-use, retail, build-to-suit and residential sectors. Currently, Ivy Realty owns, manages and leases a 3.5 million-square-foot portfolio with added development potential throughout the tri-state area.
For more information contact Ivy Realty at their Montvale, New Jersey headquarters at (201) 573-8400 or visit the website at www.ivy-realty.com.
