UPS Delivers 118,000-SF Office Lease

WAYNE, NJ-The United Parcel Service has taken an 118,000-square-foot office lease at 1655 Valley Rd. here. The new digs will serve as the home for the company’s 650-person Information Services group, according to Tom Consiglio, principal of Resource Realty of Parsippany, which brokered the lease on behalf of the tenant. Newmark Knight Frank represented the landlord, Prism Capital Partners.

UPS–which now occupies 189,000 square feet at 435 South St. in Morris Township–considered several other options before settling on the Wayne property; these included staying in place, relocating to a different New Jersey location or moving the entire operation out of the state to another facility in its system, according to Consiglio, whose company was retained in Jan. 2009 to study all of the New Jersey possibilities.

“Bringing the employee base to Passaic County will be a huge boost to the economy in the area,” Consiglio said in a release. “It’s also great news for New Jersey since UPS decided not to leave the state.”

At least part of the postal service’s decision to stay in-state was likely due to the allocation of state tax credits, which it will receive under the Business Retention and Relocation Assistance Act Grant, a program that was designed to keep jobs within New Jersey.

UPS will begin moving employees into its new facility “beginning in, or around, August,” according to Resource Realty’s release. The building is not far from several other UPS locations in Paramus and Mahwah, both of which house information services employees. For its part, Prism is providing turn-key renovations, including a remodeled cafeteria.

“We handled UPS’ original lease on its Morris County facility in 1994, and again when they renewed in 2004,” Consiglio said. “Our strong, long-term relationship led them to ask us to search for new facilities. The long-term lease is one of the largest office lease deals in the state this year.”