Commercial real estate firm Avison Young recently announced it arranged a lease for 25,000 square feet for marketing firm W2O in Florham Park. The firm’s senior VP Justin Dziama and principal and managing director Jeff Heller represented the marketing firm in the transaction.
“We are excited to announce the closing of this latest leasing transaction,” Heller said. “This was a joint effort with Justin F. Dziama, Senior Vice President from Avison Young’s Boston office, who is Avison Young’s national Account Representative for W2O. Our collaboration is another clear demonstration of our company’s partnership culture.”
AY principal William McCaffrey represented the landlord, KBS, of 100 Campus Drive in Florham park.
W2O is headquartered in San Francisco and has 12 offices worldwide. The firm will relocate its New Jersey office from Morristown to Florham Park in Q2 2018.
“The combination of superior amenities and great location made Park Avenue at Morris County a perfect home for W2O,” Shannon Hill of KBS said. “The appeal of this exceptional office park is reflected in its strong leasing activity, particularly with prominent tenants such as W20. We’re thrilled to add this global organization to our growing tenant roster and look forward to continued leasing activity at the property throughout 2018.”
Avison Young’s New Jersey office also announced it completed the sale of a 41,225-square-foot data center in Ontario, Canada. Principal James Cali represented both the buyer and the seller in the transaction.
The buyer, fifteenfortyseven Critical Systems Realty (1547) is a data-center developer and has been approved for a 60,000-square-foot expansion at the purchased property, located at 105 Clegg Road, Markham Ontario.
“Our data center market proficiency and deep-rooted connections to the Toronto market made Avison Young uniquely qualified to oversee this transaction,” Heller said. “This sale is a win-win transaction for both companies and establishes a foundation for future deals between the two organizations. With the close of this sale, I.C.E. Data Centers has acquired additional capital to invest in their fiber networking business and expand into new markets while still maintaining this mission-critical data center space in Toronto.
“Meanwhile, 1547 acquires its first non-US data center and establishes a new revenue stream through the ownership of this facility. We’re pleased to announce the close of this transaction and look forward to future data center sale transactions in New Jersey as well as other markets Avison Young has a presence in.”
1547 purchased 105 Clegg Road for $22 million.