Technogym, the official fitness equipment supplier for the London 2012 Olympics, has signed a long-term lease at 700 Route 46 East in Fairfield, N.J., for its U.S. headquarters. A Newmark Grubb Knight Frank (NGKF) team represented the landlord, True North Fairfield Property Partners, in the transaction.
Technogym signed a 12,897-square-foot lease at the office building, which was recently renovated and repositioned for multitenant use. NGKF’s Frank Recine and Kenneth Porreca represented the landlord, an affiliate of New York-based True North Management Group (True North). Richard Charles of CBRE represented Technogym, a European-based maker of high quality strength training equipment.
700 Route 46 is part of a completely renovated mixed-use complex that includes the Crowne Plaza Hotel, which provides on-site conferencing facilities, a fitness center, pool and restaurant.
Girard Tunney, a principal of True North stated, “We are extremely pleased that our asset in Fairfield has continued to attract tenants of Technogym’s stature, allowing us to continue to grow our roster of high quality tenants.”
“We are seeing strong interest from a diverse group of tenants in this excellent facility now that it has been completely polished and updated,” said Recine, a principal of NGKF.
Availabilities at 700 Route 46 include maximum contiguous spaces of 24,022 square feet, connected by an internal staircase. Floors are divisible to 2,000 square feet.
Technogym, which has 13 offices around the world, produced its first line of fitness equipment in 1985 in Italy. It has been the official supplier of cardiovascular training equipment for the Athletes Village at numerous Olympic Games, including Beijing 2008.
About True North
Formed in 2004, True North Management Group is a privately held real estate investment management firm headquartered in White Plains, New York. True North seeks to build on the track record of its founding partners and provide its investors with investment opportunities that offer superior returns in the real estate sector. In addition to the Fairfield office building, True North currently owns over 3.5 million square feet of office space within its diversified portfolio, which also includes lodging, multifamily, industrial, flex and student housing investments. For more information, go to: www.tninvestors.com.
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC’s financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world’s leading financial institutions.
Newmark Grubb Knight Frank, together with its affiliates and London-based partner Knight Frank, employs more than 11,000 professionals, operating from more than 300 offices in established and emerging property markets on five continents. This major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide.