Jones Lang LaSalle


Rreef Renews and Expands to 22,000 SF
By Eric Peterson
Last updated: April 11, 2006 09:57am

HACKENSACK, NJ-Rreef has renewed its lease at Continental Plaza, and has more than doubled its presence in the complex in the process. The Deutsche Bank unit has relocated from its existing 10,500 sf space within the 433 Hackensack Ave. building to a full floor of 22,458 sf. Terms of the signing were not disclosed.

"That a prominent firm whose business is real estate chose to stay here is a testament to the complex’s attractiveness," says William J. O’Keefe, vice president of leasing for Normandy Real Estate Partners, owner of the complex. "The move was necessitated by the company’s ongoing growth and is primarily accommodating an accounting department."

Normandy and joint venture partners Morgan Stanley and Wafra Investment Advisory Group acquired the 650,000-sf, three-tower office complex in September 2004 from Stellar Management and Brack Capital Real Estate for a reported $108.5 million, or $167 per sf. The 12-acre complex is located at 401, 411 and 433 Hackensack Ave.