Firm inks 10,000-square-foot lease at 216 Route 17 North with video communications firm relocating from Hackensack

JLL has completed a new transaction for building owner Park Avenue BMW with Vidyo Inc. at 216 Route 17 North in Rochelle Park, N.J. The video communications company signed a lease for 10,000 square feet at the Class A, 82,222-square-foot mixed-use building.

The building owner was represented by Frank D. Recine, executive managing director; Mark Siegler, executive vice president; and Michael Pietrowicz, associate, all with JLL. The tenant, Vidyo, was represented by Dennis Gralla and James Scancarella, managing principals, with Cresa.

“Since acquiring the building for its new Park Avenue BMW headquarters, ownership has invested significant capital toward upgrading the asset, including new mechanicals,new common areas, lobbies and restrooms,” said Recine.

“The building is conveniently located in close proximity to Route 17, and includes covered, structured parking, which is a great amenity to building tenants,” said Siegler.

Vidyo inked a long-term lease for 10,000 square feet of office space and will occupy a portion of the third floor at 216 Route 17 North, which is located at the intersection of Route 17 North and Passaic Street. The video communications company is relocating from Continental Plaza, 401 Hackensack Avenue in Hackensack.

The three-story 216 Route 17 North was constructed in 1989. The building totals 82,222 square feet, with the first floor serving as Park Avenue BMW’s headquarters and showroom, and the top two floors consisting of office space.

JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from five full-service offices in Parsippany, Morristown, Iselin (Metropark), East Rutherford, and Princeton, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.