Jones Lang LaSalle

UPDATE: Dealer Takes Another 30,000 SF
By Eric Peterson
Last updated: March 17, 2006 10:01am
(To read more on the industrial market, click here.)

MAHWAH, NJ-Prestige of Bergen Inc. has leased 30,000 sf at Ivy Realty’s 16 McKee Dr. here. The space is in additional to the 60,000 sf the company signed for this past October, expanding Prestige’s Toyota Service Center operations at the site. A portion of the former warehouse space will also be converted into administrative offices.

Both Prestige of Bergen and Ivy Realty were represented by Marion M. Geddes, Ivy’s executive vice president of leasing. Terms were not released. The signing leaves just 5,000 sf still available at the 110,000-sf facility.

The property is part of the Mahwah Business Center, where Ivy owns and manages a total of some 510,000 sf of industrial and flex space. As reported by GlobeSt.com, Ivy recently did a $20 million refi of its holdings within the business center, converting a floating-rate loan to fixed.