Cushman & Wakefield Completes 20,000-Square-Foot Lease Renewal with Menasha Packaging
LYNDHURST, N.J., Jan. 22, 2014 - Menasha Packaging has agreed to a long-term lease renewal and expansion to a total of 20,000 square feet for its regional office at CityView Corporate Center in Lyndhurst. The East Rutherford, N.J.-based team of Curtis Foster, Ben Hochron and Jerry Shifrin represented owner Rugby Realty. The tenant was represented by Ron Ganter of Cresa Partners.
Predecessor company Strive Group, which originally moved to the class A property at 160 Chubb Avenue in 2005, was acquired by the Neenah, Wisc.-based Menasha Packaging in 2012. The site serves as a regional office for the company, which specializes in corrugated display packaging for the food, household and personal care markets.
"The location met the company's continuing requirement for ground-floor space based on the need for deliveries and the ability to have some light manufacturing equipment, such as cutting tables to produce prototypes, on site," said Foster. "Access to major highways, proximity to markets throughout the tri-state region, the availability of public transportation and location of nearby Newark Liberty Airport were all factors in the decision to continue the company's long-term commitment to the building."
With the signing of the lease extension with Menasha Packaging, CityView Corporate Center is now close to 80% occupied. The property was recently acquired by the New Rochelle, N.Y.-based Rugby Realty Co. Maurice Ades, Managing Partner of Rugby Realty, who handled the acquisition said, "We are very happy to be acquiring the Class A property, but more than that we are thrilled to have Curtis Foster, one of the top leasing agents in the market, handle this building for us."
Situated with direct access to Route 17 and 3, the three-story CityView Corporate Center totals 135,418 square feet on 8.36 acres. Originally constructed in 1979, the property was renovated in 2006, and again in 2012.