JLL recently completed a new transaction for building owner Park Avenue BMW with Vidyo Inc. at 216 Route 17 North in Rochelle Park. The video communications company signed a lease for 10,000 square feet at the Class A, 82,222-square-foot mixed-use building.
The building owner was represented by Frank D. Recine, executive managing director; Mark Siegler, executive vice president; and Michael Pietrowicz, associate, all with JLL. The tenant, Vidyo, was represented by Dennis Gralla and James Scancarella, managing principals, with Cresa.
“Since acquiring the building for its new Park Avenue BMW headquarters, ownership has invested significant capital toward upgrading the asset, including new mechanicals, new common areas, lobbies and restrooms,” said Recine.
“The building is conveniently located in close proximity to Route 17, and includes covered, structured parking, which is a great amenity to building tenants,” said Siegler.
Vidyo inked a long-term lease for 10,000 square feet of office space and will occupy a portion of the third floor at 216 Route 17 North, which is located at the intersection of Route 17 North and Passaic Street. The video communications company is relocating from Continental Plaza, 401 Hackensack Avenue in Hackensack.
The three-story 216 Route 17 North was constructed in 1989. The building totals 82,222 square feet, with the first floor serving as Park Avenue BMW’s headquarters and showroom, and the top two floors consisting of office space.
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