Cushman & Wakefield Completes 11,570-Square-Foot Lease With Kiddie Academy

Montville, NJ, April 11, 2016 (Newswire.com) - In a transaction orchestrated by Cushman & Wakefield, Kiddie Academy of Montville is the latest tenant to sign on at 350 Main Road, a 34,000-square-foot, two-story professional office building in the Morris County community. The commercial real estate services firm’s East Rutherford, N.J.-based team of David DeMatteis, Jeffrey Prezant, and Mina Shehati represented property owner DRA 350 Main LLC of Summit, N.J. in the 11,570-square-foot, 16-year transaction on the building’s second floor. Kiddie Academy, operated by a franchisee, was represented by David Schwartz of APREA Inc.

“On behalf of the community, we are very excited for this use,” said Prezant, whose team had earlier sold the building to the current ownership and retains the leasing agency. “Three additional day care brands approached us as we were negotiating for this space. After closely examining the different day care groups, we chose Kiddie Academy for its quality and caring of these children, and felt most comfortable having them as a tenant.”

Kiddie Academy joins a pediatric dentist with a long-term lease at 350 Main Road, which currently has 13,000 square feet of contiguous space available. “We are looking for complementary medical tenants—a pediatrician or other doctors,” said DeMatteis. “We have had a great deal of interest from different medical groups that could interface with Kiddie Academy and the pediatric dentist.”

“The lease with Kiddie Academy is a game changer for the property and sets the tone for future tenancies that are compatible with their use alongside the pediatric dentist,” noted Nicholas Minoia, managing partner, DRA.

Constructed in 1988, 350 Main Road is situated just off Exit 47 of I-287. “The location is a major draw,” said Prezant. “It is at one of the few four-way interchanges on that side of I-287, so it is easy for parents to drop off their children, go to work, whether it be in Passaic or Morris counties, and pick them up on the way home.”

“The high density of parking, five cars per 1,000 square feet, makes it ideal for any kind of medical use,” said DeMatteis. “There is also a tremendous amount of plumbing in the building, which works well for medical users.”

“The building also has good fiber connectivity,” said Prezant. “And there is exposure—it has a large sign advertising all of the tenants, and it is important for professional tenants to have that kind of exposure.”

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment & asset management (branded DTZ Investors), project & development services, tenant representation and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Source: Cushman & Wakefield