CUSHMAN & WAKEFIELD BROKERS HQ LEASE FOR ADVANCE HOUSING, INC.
Growing Non-Profit Takes 14,000 Sq. Ft. at 100 Hollister Road in Teterboro, N.J.
TETERBORO, N.J. – December 9, 2011 – (RealEstateRama) — Advance Housing, Inc., a state-funded Community Housing Development Organization, has leased 14,000 square feet for its headquarters at 100 Hollister Road in Teterboro, announced commercial real estate services firm Cushman & Wakefield, Inc. The agency will relocate to the property from Hackensack, N.J., in an expansion move this winter.
Curtis Foster of Cushman & Wakefield’s East Rutherford, N.J., office represented Advance Housing in the long-term lease. Michael Marchese of Newmark Knight Frank served as broker for the landlord, KTR Capital Partners.
Advance Housing provides supportive housing and services to persons with psychiatric disabilities throughout Northern New Jersey. The agency opened in 1997 as a consortium of providers and includes on its Board representation from The Arc of Bergen and Passaic Counties, Comprehensive Behavioral Healthcare, North Jersey Friendship House, and Vantage Health System, as well as consumers. Advance Housing works to expand the range and scope of housing opportunities available to consumers of mental health services. Its outreach services are designed to help people live independently and productively in the community.
In 2011, Advance Housing saw 25 percent growth. “With growth comes change,” said Kevin Blanchard, the organization’s director of development. “With our lease expiring, it was a perfect opportunity to look at potential new office space. On a non-profit shoestring budget, Curtis took us to a dozen different office spaces. With his help, we found the perfect location.”
Foster noted that proximity to bus lines and mass transportation is critical to Advance Housing’s ability to effectively serve its client base. The site search targeted suitable properties throughout Bergen County.
“KTR Capital provided very attractive terms, making 100 Hollister Road a great fit in terms of both location and affordability,” he said. “It always is gratifying to work with organizations that focus on improving quality of life for New Jersey residents. This was a true ‘feel good’ assignment.”
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