CBRE Arranges Largest New Office Lease in Bergen County in 2019

Promotion in Motion Inks 110,945 SF Office Lease for Corporate Headquarters in Park Ridge

On Nov 4, 2019

In the largest new office transaction completed in Bergen County to date in 2019, Promotion in Motion, Inc. (PIM), a manufacturer of fruit snacks, fruit rolls, confections and other snack food products, has signed a 110,945-square-foot headquarters office lease at 225 Brae Blvd. in Park Ridge.

The CBRE team of Jeffrey Babikian, Brian Godau and Garrett Rioux spearhead the leasing campaign and repositioning at 225 Brae Boulevard and represented ownership, Brae Holdings, LLC, in the lease negotiations.

“We are thrilled to be able to bring such a high-profile company to the property and to the Montvale/Park Ridge market, where the redevelopment of the area over the past few years has attracted a number of major corporate tenants,” said Babikian, executive vice president, CBRE. “We are also very excited to have worked closely with ownership during the repositioning of the asset from a single-tenant facility to one of the best-in-class multi-tenanted Class A office buildings in the market.”

“Ownership has invested considerable capital towards a number of major improvements at the property to create a working environment unlike anything found in this submarket that is ideal for office users looking for quality space in Bergen County,” added Godau, first vice president, CBRE.

Robert Nathin of Sheldon Gross Realty, Inc. represented Promotion in Motion, Inc. in this transaction.

Built in 1988, 225 Brae Boulevard is a 224,413-square-foot facility that served as the global headquarters for international rental car company, Hertz. The Class-A office property boasts a headquarters-quality design and infrastructure (LEED Gold certified), a dramatic three-story atrium, marble façade and covered parking, as well as a full-service café and state-of-the-art fitness center.

PIM is one of North America’s leading makers of fruit snacks, fruit rolls, confections and other snack food products. Ranked as #54 on Candy Industry Magazine’s “Global Top 100” confectionery companies in the world, PIM has also been named as one of the fastest growing Consumer Packaged Goods companies in the U.S. by The Boston Consulting Group and Information Resources, Inc. four times in the past six years, most recently in 2017. PIM is also ranked by Crain’s Business as one of the New York metro area’s 100 largest privately owned companies, and by NJBIZ as one of the State’s 50 largest privately held employers.

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