{"id":1004335415,"date":"2019-07-01T01:43:27","date_gmt":"2019-07-01T09:43:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004335415"},"modified":"2021-05-15T04:54:51","modified_gmt":"2021-05-15T12:54:51","slug":"newmark-knight-frank-arranges-200-ksf-lease-in-nj","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\/","title":{"rendered":"Newmark Knight Frank Arranges 200 KSF Lease in NJ"},"content":{"rendered":"<div id=\"attachment_1004335451\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004335451\" data-attachment-id=\"1004335451\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\/100-jefferson-road-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png\" data-orig-size=\"914,708\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"100 Jefferson Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;100 Jefferson Road&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png?w=914\" loading=\"lazy\" class=\"wp-image-1004335451 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png\" alt=\"\" width=\"300\" height=\"232\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png 914w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png?resize=300,232 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004335451\" class=\"wp-caption-text\">100 Jefferson Road. <em>Image via Google Maps<\/em><\/p><\/div>\n<p>Newmark Knight Frank has arranged a new long-term lease for nutraceutical maker Vitaquest International at a 537,000-square-foot property&nbsp;in Parsippany, N.J.&nbsp;Vitaquest will occupy more than 200,000 square feet of industrial space for a new manufacturing and distribution facility at 100 Jefferson Road, as the company expands its food product development and manufacturing operations in New Jersey.<\/p>\n<p>Vitaquest already has operations in West Caldwell and Fairfield.&nbsp;NKF Managing Director James Ritman of the Stamford office and Associate Director Trevor Patterson of the Rutherford office represented Vitaquest in this transaction.&nbsp;<\/p>\n<hr>\n<p><strong>READ ALSO:<\/strong>&nbsp;<a href=\"https:\/\/www.commercialsearch.com\/news\/cpes-stars-to-watch-2019-high-iq-for-corporate-hqs\/\" target=\"_blank\" rel=\"noopener\">CPE\u2019s Stars to Watch 2019: High IQ for Corporate HQs<\/a><\/p>\n<hr>\n<p>According to Patterson, Northern New Jersey continues to be a strong market for industrial space and has extremely low vacancy rates, which makes it difficult for tenants looking to expand their operations in that market. NKF did not respond to <em>Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n<h2>One blip in a steady market<\/h2>\n<p>Despite some headwinds arising from uncertainty around trade, the Northern and Central New Jersey industrial market had an exceptionally good quarter in terms of leasing activity, according to a first-quarter report from Cushman &amp; Wakefield. In addition, net absorption was strong, rents continue to rise\u2014to an average of $8.78 per square foot\u2014and the development pipeline is active. E-commerce and third-party logistics tenants have dominated leasing activity for spaces of 100,000 square feet or larger.<\/p>\n<p>The one small glitch was that vacancy ticked up for the first time in four-and-a-half years, to 3.5 percent. This is expected to be temporary, however, as tenant interest remains healthy and preleasing of speculative space has been substantial.<\/p>\n<p>In January, Executive Managing Director Dennis Waggner and Research Director John Obeid of Colliers International <a href=\"https:\/\/www.commercialsearch.com\/news\/why-industrial-demand-is-skyrocketing-along-the-nj-turnpike\/\">detailed how the New Jersey Turnpike Corridor is evolving<\/a>, as asking rents soar and developable sites dwindle.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenant at the industrial property in Parsippany is Vitaquest International, a manufacturer of nutraceuticals, which will use the facility for both production and distribution. <\/p>\n","protected":false},"author":882,"featured_media":1004335451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21808,21748,1600,21742,10],"tags":[32763,32799,36007],"class_list":["post-1004335415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-featured","category-industrial","category-new-york","category-latest","category-northeast","tag-colliers-international","tag-cushman-wakefield","tag-newmark-knight-frank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Newmark Knight Frank Arranges 200 KSF Lease in NJ - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newmark Knight Frank Arranges 200 KSF Lease in NJ\" \/>\n<meta property=\"og:description\" content=\"The tenant at the industrial property in Parsippany is Vitaquest International, a manufacturer of nutraceuticals, which will use the facility for both production and distribution.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-01T09:43:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T12:54:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/07\/100-jefferson-road.png\" \/>\n\t<meta property=\"og:image:width\" content=\"914\" \/>\n\t<meta property=\"og:image:height\" content=\"708\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Newmark Knight Frank Arranges 200 KSF Lease in NJ\",\"datePublished\":\"2019-07-01T09:43:27+00:00\",\"dateModified\":\"2021-05-15T12:54:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\\\/\"},\"wordCount\":324,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/newmark-knight-frank-arranges-200-ksf-lease-in-nj\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/07\\\/100-jefferson-road.png\",\"keywords\":[\"Colliers International\",\"Cushman &amp; 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