Only one building left at Alfred Sanzari Enterprises' Norwood, NJ industrial park

Real Estate Weekly, Nov 24, 1999

With only one remaining 78,566 square-foot building in Norwood, NJ, developer/owner Alfred Sanzari Enterprises is enjoying one of their best years in a decade. Companies seeking industrial or warehousing space with easy access to major roads and an excellent local labor pool have been choosing the Norwood industrial park. The strong pace of leasing activity through 1999 indicates the area's healthy economy and shows no signs of slowing down.

"Demand for high quality industrial and warehousing space is very strong in northern New Jersey," says Steven M. Savlov, vice president of Leasing/Industrial Properties at Sanzari Enterprises. "We have leased 223,260 square feet of space in our Norwood industrial park so far this year. The only remaining space is a prime, one-story building at 355 Chestnut Street. Our success stems from providing quality facilities in strong business locations, and responsive service to our commercial tenants."

While several companies expanded or renewed their lease directly, Savlov also credits David Ginsburg of Charles Klatskin Company, Gregory Hoffman and Daniel Saxon of McBride Corporate Real Estate and Mark David Cord of SBWE with the accelerated pace of leasing activity.

The building at 355 Chestnut can be divided into 42,000 and approximately 36,000 square-foot units. It includes approximately 8,000 square feet of office space, 20'8" ceiling height and has three tailgates for loading (which can be expanded).

"There are a number of tremendous benefits to this location," said Savlov. "Property taxes and energy costs are significantly lower than in New York, and the corporate tax rates are equally attractive. That alone could amount to tens of thousands of dollars of cost savings. And the location is ideal. It offers easy accessibility to major roadways and transports, and the northern Bergen County area is home to a number of major corporations. Norwood, in particular, has become the leading address for light assembly and/or distribution centers of some of the metropolitan area's most respected corporate names."

Located in Bergen County, one of the most affluent counties in the nation, the Norwood industrial park is easily accessible to a network of major highways that link to Rockland, Westchester and Orange counties, New York City, northern New Jersey, the New Jersey Turnpike and Garden State Parkway.

The industrial park is minutes from The New York Thruway; 10 minutes to the Tappan Zee Bridge; 6 minutes to the Palisades Parkway; 20 minutes to the George Washington Bridge; 25 minutes to Teterboro Airport; and 45 minutes to Stewart Airport.

In addition to serving as a major gateway to the network of highways serving the northeast, including easy access to the Palisades Parkway, Tappan Zee Bridge, Routes 4, 17, 46 and 80, the site is accessible to the Port Newark Marine Terminal and the Elizabeth-Port Authority Marine Terminal.

Local and county government are very supportive of business, and Bergen County is widely known as host to a number of leading technology and electronics firms, and also has a strong representation of international firms with headquarters there.

Founded in 1945, Alfred Sanzari Enterprises is one of New Jersey's leading development organizations. The company owns and manages over five million square feet of commercial, industrial, residential and mixed-use real estate projects.