Newmark Associates reports banner year
The Sunday Star-Ledger
Newmark Associates Inc. Commercial Brokerage has concluded yet another record-breaking year in 2004.
“The company continues to distinguish itself in the commercial real estate business as an organization that provides outstanding results, and we have been fortunate in attracting talented, creative associates who continually find and develop opportunities in the market that often is challenging,” comments Susanne Newmark, president of Newmark Associates.
This past year, Senior Associate, Andrew Schwartz was responsible for the long-term leasing of 112,000 square feet of industrial space in Parsippany. The new tenant, Zimmer Trabecular Metal Technology Inc., a subsidiary of Zimmer Inc. is a worldwide orthopedic leader in the design, development, manufacturing and marketing of reconstructive and spinal implants, as well as other related orthopedic surgical products. This transaction was accomplished with the assistance of co-broker Colliers Houston & Co.
Schwartz also was instrumental in locating the corporate headquarters for Affinity Title Agency on Jefferson Road in Hanover Township. Affinity Title Agency is one of the leaders in the title insurance industry, serving New York, New Jersey and Pennsylvania.
Vice-President, Debbie Myers worked extensively with the banking industry in 2004. Myers procured a new location for First Morris Bank and Trust in Parsippany. The new location was not on the market when Myers approached the owner, a long-time client of Newmark Associates, regarding the possibility of a sale. The result was a new drive-in location for the bank complementing its nine other offices in Morris County.
In another transaction, Myers represented Lakeland Bank in a long-term lease for its new location in the center of Morristown.
Myers, along with Vice-President Suzanne Kiall, were responsible for the sale of two office properties in Morris County. The first property, located in Montville, was sold to Consumers Choice Mortgage Services Inc. for its new corporate headquarters. In the second transaction, Newmark Associates represented The Advance Realty Group for an office property located in Rockaway. Blue Bird Auto Systems purchased the property. Myers represented Advance Realty Group and Kiall represented Blue Bird Auto Rental Systems, a provider of software systems to vehicle rental operations worldwide.
In yet another assignment, Archon Atlantic, a Chatham-based real estate development company, selected Newmark Associates to coordinate the leasing of 25 and 35 Airport Road, a 95,000-square-foot office complex in Morristown. Newmark Associates completed the assignment, leasing the entire premises in less than six months.
Vice-President Meryl Ehrenkranz sold a freestanding, 6,000-square-foot office building located on South Livingston Avenue in Livingston, which is undergoing complete renovation and will become the headquarters of The Punia Co.
Ehrenkranz, along with Kiall also was responsible for the sale of a freestanding professional office building located at 140 Columbia Turnpike, Florham Park. The building was purchased for a dental practice.
Vice-President Bill Cunningham represented Braunschweiger Jewelers of Morristown in the negotiation of its retail location on South Street. Cunningham also was responsible for the sale of a 46,000-square-foot warehouse building in Vernon to Bon Chef Inc.
In another lease transaction, Newmark Associates leased 10,000 square feet on Ridgedale Avenue in Cedar Knolls on behalf of Arcod Atlantic to The Surgical Center at Cedar Knolls. The new facility will be a state-of-the-art surgical center with a planned opening in late 2005.
Newmark Associates Inc., located in Hanover, is a full-service corporate real estate organization specializing in the sale and leasing office and industrial properties. Newmark Associates Inc. offers an entrepreneurial approach to real estate, providing unique opportunities to each of its client. The company was named one of the top New Jersey Brokerage Firms by a statewide business publication.
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