Resource Realty of Northern New Jersey closes five leases across Morris and Essex Counties

Morris & Essex Counties, NJ Resource Realty of Northern New Jersey (RRNNJ) has successfully completed a series of five lease agreements in owner and tenant representation assignments across Morris and Essex counties. The transactions, spanning two office spaces and three industrial properties, underscore the continued strength of the commercial real estate market across these in-demand markets.

“These transactions are relevant because they are indicators that businesses see a need to increase their physical footprint to serve more customers or clients,” said RRNNJ Principal Greg Sabato. “This kind of activity is a powerful sign of market energy and economic vitality, which is a much-stronger signal than a simple relocation.”

The two tenant-representation office transactions highlight enduring demand for health and professional services space, including a notable expansion.

At 333 Route 46 West in Mountain Lakes, NJ, RRNNJ principals Brian Wilson and Sabato arranged a 2,384 s/f office lease on behalf of Carroll Physical Therapy. This transaction marks a strategic expansion for the rehabilitation-care provider, building on a long-standing relationship between the firm and the tenant. Both Wilson and Sabato have a long-time association with the client, having represented them in a number of lease transactions at their flagship Denville/Route 10 location.

In the second office transaction, Wilson brokered a 4,000 s/f office sublease at 163 Madison Ave. in Morristown, NJ. In the transaction, he represented the national security company with 60 office locations nationwide, which was seeking to relocate their Northern New Jersey operations.

“These transactions are a clear indicator of the healthy and dynamic commercial real estate environment in Northern New Jersey,” said Wilson. “These two office leases are not isolated events; rather a reflection of broader, positive trends driven by the region’s core strengths.”

RRNNJ’s expertise in the industrial and flex-space market also yielded significant activity with the firm recording three separate lease transactions, two of which were arranged on behalf of property ownership. At 100 Forge Way in Rockaway, NJ, the RRNNJ principal team of Wilson/Scott Peck successfully completed a long-term, 19,654 s/f warehouse/flex lease while the Sabato/Peck team arranged a 9,000 s/f industrial lease at 1 Apollo Drive in Whippany, NJ. Rounding out the series of deals, Sabato and Wilson also represented the tenant in a 15,334 s/f industrial lease at 107 Commerce Rd. in Cedar Grove, NJ.

“The current market’s strength lies in its versatility and broad appeal. It's not a market catering to a single industry, but a diverse ecosystem where companies of all sizes and sectors can find a strategic advantage,” said Peck. “This diversity is what makes the corridor so resilient and in-demand.”