Colliers International Group Inc. has arranged a long-term lease at Overlook Corporate Center in Little Falls, New Jersey, with Montclair State University taking 51,000 s/f of the third floor for their accounting and administrative offices.
The Colliers International team of Richard Mirliss, Richard J. Madison, Alex Vitro, and Jack Callahan exclusively represented building ownership, Theta Holding Company, LP, on this transaction.
With this new lease, Montclair State is the latest to join the influx of new tenants who have responded to the multimillion-dollar enhancement initiative undertaken by the building’s new owner.
The University’s dedication to administrative office use adds to the diverse group of business professional tenants who occupy the eleven-story, 415,000 s/f, Class A office building, including Morgan Stanley, Cantel Medical, the American Society of Mechanical Engineers (ASME), SPS Commerce, The Marcus Group, Milliman, and Roche.
Montclair State’s move to Overlook Corporate Center, which is adjacent to Montclair State’s main campus, signifies a consolidation of university office space.
Drawing the attention of several tenant prospects, enhancements to the building include: renovations and upgrades to all common areas including the main lobby, atrium, elevator cabs, bathrooms, corridors, and cafeteria; a new state-of-the-art conference center; brand new fully equipped fitness center; and a “grab-and-go” cafeteria with a coffee bar.
Additional amenities at the building include: upgrades to shuttle service to the nearby Montclair University Train Station; panoramic views of New York City and New Jersey; covered parking; Wi-Fi access; gated security; and on-site ownership and management.
“Colliers’ leasing team has played an instrumental role in helping Theta Holding understand the types of amenities needed to compete with other Class A properties,” said David A. Simon, SIOR, Executive Managing Director and Market Leader for the New Jersey operations of Colliers International. “Theta Holding’s response and commitment to this asset has generated a significant level of interest and activity.”
“The new lease with Montclair State adds to the recent leasing momentum of the building and speaks to the success of Overlook Corporate Center’s multi-faceted renovation program,” said Mirliss, an Executive Managing Director with Colliers International.
“The owner’s decision to select a best-in-class array of contractors and vendors guaranteed an exceptional upgrade that continues to attract tenants.”