Jones Lang LaSalle

Spectra East Re-Ups, Expands to 106,000 SF
By Eric Peterson
Last updated: December 2, 2005 08:34am

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ROCKLEIGH, NJ-Spectra East has renewed its existing lease of nearly 85,000 sf of office space and added 21,000 sf on top of that, bringing its total occupancy at Rockleigh Corporate Center to 105,613 sf. The company, which is the US subsidiary of the Germany-based Frensenius Medical Care, an integrated provider of products and services for kidney dialysis, uses the space for executive offices, customer service, IT functions and labs.

Located at 8 King Rd., Rockleigh is a two-building, 182,000-sf asset that is currently 100% leased. Other tenants at the complex, which is owned, managed and leased by GHP Office Realty of White Plains include the New York Times and 3M Medical Equipment.

"We have committed to an intense capital program at the building since we purchased it in early 2000," says Andrew Greenspan, a principal of GHP, the office building division of Houlihan Parnes, who describes the transaction as "one of the largest leases in Bergen County this year.”
"Spectra East operates 24 hours a day, every day of the year. We needed to invest in the appropriate building infrastructure and management procedures to convince the tenant that this is where they should maintain their headquarters and laboratories for years to come,” he adds.

Before it was acquired in March 2000 from JP Morgan, the asset was last renovated in 1998. It was built in 1973, and Spectra East occupies the east building of the two-building complex. Besides being described as "long term," the details of the transaction were not released. However, a small block of sublet space within the complex is currently listed for $18.50 per sf for a five- to 10-year term.

To complete Spectra East's growth within the complex, Phil Fruchter of Papp Architects of White Plains designed the new office and lab space. Anthony Nardozzi of the Stamford, CT-based New York Connecticut Development oversaw the renovations. The site houses 250 of Spectra East's 1,200 employees in the US.