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Deals & Dealmakers

Marcus & Millichap expands in Jersey

Marcus & Millichap announced the signing for a 10,000 s/f class A office space at Park 80 West in Saddle Brook, New Jersey.

Brian Hosey regional manager of Marcus & Millichap’s New Jersey office exclusively managed the search on behalf of the firm.

Cheryl Hardt and Donald Sperling of CBRE represented the property-owner, CBRE Global Investors an independently operated affiliate of CBRE Group, Inc.

BRIAN HOSEY
BRIAN HOSEY

Marcus & Millichap signed a seven-year lease and is expected to take possession of the new space this June.

The building has $11 million in upgrades that will give Marcus & Millichap agents and staff amenities including a full gym, dry cleaner, massage center, community space and covered parking. The office is just off of I-80 and the Garden State Parkway.

“Marcus & Millichap’s presence in northern New Jersey is expanding,” said Hosey. “We are very excited to have signed a lease for world class office space in a dynamic workplace environment with amenities for the next generation of investment sales brokers and finance professionals in New Jersey.”

The space is 33 percent larger than Marcus & Millichap’s current space in Elmwood Park. The firm expects to house 60 agents and employees.

Last year, the firm moved into bigger new offices at  260 Madison Avenue in Manhattan as part of a greater strategic expansion effort in the north east.

The 37,000 s/f space is expected to house around 250 employees – including brokerage, admin staff, investment sales agents, and financing professionals.

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