34,000 s/f office renewals a sign of post-COVID confidence, says owner

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CBRE announced it has completed two large lease renewals at Continental Plaza in Hackensack, New Jersey, in what the property owner calls a sign of confidence in the officer sector post COVID.

“Tenants will continue to demand a safe, clean, and harmonious space to work in a post-COVID world,” said Asher Schepansky, director of asset management at Lionstone Capital, which owns the three-building complex at 401, 411 and 433 Hackensack Avenue, just off Route 4.

“We have been progressive in meeting health concerns while maintaining high-quality services and amenities. Continental Plaza will continue to deliver a best-in-class experience for tenants.”

Shapiro, Croland, Reiser, Apfel & Di Iorio, LLP, has recommitted to 11,000 s/f for 10 years at the property while the U.S. General Services Administration renewed its 23,000 s/f lease for an additional five years.

The CBRE team of Donald Sperling and Erin Wenzler represented Lionstone Capital, a hedge fund in New York with $402.51 million in assets under management.

“Continental Plaza offers an unparalleled work environment. Tenants continuously choose Continental Plaza even during these challenging and unprecedented times,” said Sperling, senior vice president. “These long-term renewals are a testament to the strength of the property and ownership’s hands-on approach to managing this Class A office complex.”

Continental Plaza consists of three office buildings and a restaurant totaling 647,947 s/f. The complex offers a fitness center with personal training, conference center with individual breakout rooms, tenant lounge, full-service cafeteria, coffee bar, dry cleaning, electric car chargers and more.

Situated minutes from Routes 17, 80, 46, the Garden State Parkway and 10 minutes from the George Washington Bridge, the property has New York City views and access to The Shops at Riverside with its high-end retail, dining, entertainment and fitness amenities.

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