Greenspan of GHP Office Realty completes a 123,000 s/f renewal/expansion lease to Spectra East at 8 King Road, Rockleigh, N.J.

Andy Greenspan of GHP Office Realty has represented the owner in completing one of the largest office leases in N.J. this year, a 123,000 s/f office and laboratory renewal and expansion at 8 King Rd. The tenant, Spectra East is a division of Fresenius Medical Care Holdings, Inc. The company has over $12 billion in revenue and over 73,000 worldwide employees. The 8 King Rd. location is the east coast executive headquarters for Spectra East. After searching the entire tri state region for a newer location, Spectra determined that its in place state of the art infrastructure and world class wet laboratory remained its most attractive option. Their ability to maintain their educated and highly skilled work force, abundant parking, and access to public transportation all proved a compelling combination to renew and expand at 8 King Rd. The building's ready ability to handle a 10,000 s/f expansion helped clinch the renewal at 8 King Rd. Spectra East currently employs over 500 people at the site and expects the number of employees to grow to over 600 people within the next few years. 8 King Rd. was purchased by the principals of GHP Office Realty and a group of private investors in 2000. The property has 190,000 s/f and 800 parking spaces. The property boasts two back-up generators, abundant and multiple sources of power and state of the art fiber optic systems. The building has limited availability of space. GHP Office Realty is the office building division of Houlihan-Parnes Realtors, LLC which is presently one of the New York area's leading owners, operators and purchasers of suburban New York commercial and office space. GHP Office Realty has acquired, financed, redeveloped, leased and managed more than 6 million s/f. Regionally, the partners presently own and manage buildings in Westchester and Rockland Counties, New York, in Fairfield County, Connecticut, in Bergen County and Princeton, New Jersey, and in Fort Worth, Texas. Privately funded and well-capitalized, GHP Office Realty is stable, strong, and poised to flourish in the coming years of real estate recovery. For more information, please contact Andy Greenspan at 914-642-9300 ext. 346 or by email at: [email protected]