January 15, 2008 11:42am
Two Wireless Firms Lease 37,000 SF
By Eric Peterson
wireless companies have leased a total of more than 37,000 sf in two separate
locations. Both deals were arranged in part by and reported by the Technology
Division of the Van Houten Group, based here.
In the larger of the two deals, Pinnacle Wireless has taken
a total of 30,000 sf at 80
Commerce Way in Hackensack. For Pinnacle, the signing
represents a relocation of its headquarters from Upper
Montclair, and it will use the new location for a combination of
executive offices, a tech center and design and engineering operations for its
radio systems and integrated networks.
Van Houten represented Pinnacle in the signing, while building
owners Prism Capital Partners of Englewood and the New Boston Fund of Boston
were represented by Michael Schaible and Nate Leonard of Jones Lang LaSalle.
Terms were not released; the availability at the 80,000-sf, two-building
office/flex property had been listed on Prism's website with asking prices in
the $8-per-sf to $15-per-sf range.
"Pinnacle has experienced substantial growth over the past
two years after securing significant contracts with the NJ Turnpike Authority
and numerous national airlines and airports," says Richard Van Houten,
president of the Van Houten Group. "Following the acquisition of Warner
Communications a year ago, Pinnacle realized the need to double the size of
their space. This location offered a combination of existing infrastructure and
building design features."
In the second deal, the S. Easton, MA-based Maxton
Technology Inc., which builds and maintains wireless towers in the Northeast,
has leased 7,307 sf for a regional office at 260 W. Crescent Ave. here. Van
Houten Group represented the building owner, the locally based Bilmar
Properties, and Maxton was represented by Daniel Whitehead of Jones Lang