Park Avenue BMW Lands Neighbor in New Jersey
Vidyo will occupy 10,000 square feet on the third floor of the 1989-built property.
216 State Route 17 N.
Vidyo has signed a 10,000-square-foot lease with car dealership Park Avenue BMW at 216 State Route 17 N. in Rochelle Park, N.J. The video communications company will occupy space on the building’s third floor, relocating from Continental Plaza in Hackensack, N.J.
According to Yardi Matrix data, the landlord acquired the 1989-built, 82,222-square-foot mixed-use property in 2016 and has since renovated it. Upgrades include new mechanicals, common areas, lobbies and restrooms. The three-story, asset also features covered parking.
The property is situated close to major thoroughfares including Route 17 and Interstate 80, some 8 miles north of the 3 million-square-foot American Dream megamall in East Rutherford. Vidyo’s new home is close to several large retail options, including the 2.1 million-square-foot Westfield Garden State Plaza shopping mall.
JLL Executive Managing Director Frank Recine, Executive Vice President Mark Siegler and Associate Michael Pietrowicz represented the owner in the lease transaction. Cresa Managing Principals Dennis Gralla and James Scancarella acted on behalf of the tenant.
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