NEWSROOM
Six New Transactions
at Mountain Heights Center
Over the past 12 months there were six transactions
totaling more than 46,000 sf at Mountain Heights Center,
430 Mountain Avenue in Murray Hill.
 MURRAY
HILL-- Over the past 12 months there were six transactions
totaling more than 46,000 sf at Mountain Heights Center,
430 Mountain Avenue in Murray Hill.
The combination of new leases, renewals
and expansions punctuates a year of notable progress
at the 182,298-sf, Class A office building, which
Vision Equities, LLC of Mountain Lakes purchased in
late 2006.
Cushman & Wakefield's Bill Brown
and Adam Padla, both based in the firm's Morristown
office, serve as the property's exclusive leasing
agents. According to Brown, 430 Mountain Avenue is
benefiting from the success of a full repositioning
and aggressive marketing campaign launched in 2007.
The effort brought four new tenants
to the property last year:
--Atlanta-based law firm Fisher &
Phillips LLP leased 13,300 square feet and relocated
its branch office to 430 Mountain Ave. from a Somerset
County location. Brown and Padla negotiated the long-term
transaction as the property's leasing agents; Jeff
Kolodkin and Dawn Arrabito of Grubb & Ellis served
as brokers for the tenant.
--New Venture Partners LLC, a global
venture capital firm, relocated its headquarters to
430 Mountain Ave. in a local expansion move. Brown
and Padla negotiated the long-term transaction as
leasing agents for the property; James Schroeder of
Studley served as tenant broker for the 7,800-sf lease.
--Aleri Inc., a Chicago-based, leading
provider of enterprise-class complex event processing
(CEP) technology, leased 6,700 sf at 430 Mountain
Ave., relocating from Newark. Brown and Padla negotiated
the long-term transaction as leasing agents for the
property; Dan DePalma of Jones Lang LaSalle served
as broker for the tenant.
--Grinspec, Inc., a division of Brown
& Brown Insurance, leased 3,300 sf for its regional
office, relocating from New Providence, N.J. Cushman
& Wakefield brokered the long-term lease for both
the property and tenant.
Additionally, two existing tenants at
430 Mountain Ave. renewed their commitments at the
property.
Vision Equities completed a full lobby
renovation, including the incorporation of modern
finishes and flat-screen televisions, and common area
upgrades throughout the four-story structure. Tenants
also enjoy a full-service cafeteria, on-site gym,
in-house management and manned security. The building
occupies a park-like setting with accessibility to
I-78, Routes 22 and 24, the Garden State Parkway,
and mass transit train and bus lines.
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