Norwood/Northvale, N.J., – A leading manufacturer of orthotic footwear has been expanding its footprint in North Jersey with 135,874 SF in combined leasing activity arranged by Resource Realty of Northern New Jersey (Resource Realty). The company is also taking possession of an additional 52,000SF of warehouse space in the area this month.
In a series of tenant-representation assignments, Resource Realty’s Vice President Dan Whitehead completed three separate long-term lease agreements of 71,870 SF at 335 Chestnut St. and 52,108 SF at 10 Maple St., both in Norwood, with an additional 11,896 SF at 240 Pegasus Ave. in Northvale. The latter is owned by Maxum Realty Trust and serves as the headquarters for OrthoFeet, Inc., the tenant. Ownership of the two Norwood properties is Alfred Sanzari Enterprises.
“These lease agreements speak to OrthoFeet’s commitment to remaining in place in the Norwood-Northvale area and expanding their presence within this upper-most northeastern quadrant of Bergen County,” said Whitehead, who has been with Resource Realty since 2009 and specializes in tenant and landlord representation assignments throughout New Jersey. “Since a majority of the company’s employee base resides throughout Bergen County and Southern Rockland County, it was a priority for OrthoFeet to retain its presence and grow in the market where the company first got its start.”
Founded in 2000 by two brothers, OrthoFeet provides a patented product line of contouring orthotic-molded footwear that merges enhanced fit and comfort with attractive styling. Based on foot biomechanics and modern designs, the company’s shoe construction and orthotic insoles help improve mobility and relief from heel, foot, knee and lower back pain.
According to Whitehead, the six-acre 335 Chestnut St. property is located within the Norwood Industrial Park and houses OrthoFeet’s primary warehouse/distribution operations. The company occupies nearly two thirds of the multi-tenanted building, which offers immediate-area access to the Palisades Interstate Parkway and New York State Thruway, linking to the Garden State Parkway, I-287, George Washington Bridge and Gov. Mario M. Cuomo Bridge.
At the 10 Maple St. property, which sits adjacent to 335 Chestnut, OrthoFeet’s full-building lease marks the company’s strategic warehouse and administrative office expansion. The single-story industrial-flex building features a host of amenities sought by industrial users, including tailgate loading docks.
Rounding out Resource Realty’s OrthoFeet leasing activity is 240 Pegasus Ave., a flex multi-tenanted building in neighboring Northvale. The property is situated near the intersection of Pegasus Avenue and Livingston Street, the borough’s main thoroughfare with an array of lifestyle conveniences and dining options, including a McDonalds, ShopRite, The UPS Store, T-Mobile, Verizon, Dunkin, Jersey Mike’s, Panera Bread and Starbucks.
Based in Morris County, N.J., Resource Realty of Northern New Jersey provides commercial real estate solutions delivered with the personalized attention and autonomy of a boutique firm. Custom services include sales and leasing, landlord and tenant representation, corporate advisory and consulting, and investment property acquisitions. Founded as part of a collaborative consortium of three like-minded firms, Resource Realty of Northern New Jersey’s 30+ year reputation is rooted in market-specific expertise, a core client base and the cultivation of long-term industry-wide relationships.