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Xerox becomes 1st tenant at NJ's Whiteweld Centre.

Xerox becomes 1st tenant at NJ's Whiteweld Centre

The Manhattan-based Investment Firm of Whiteweld, Barrister and Brown has announced that Xerox Corporation has leased 31,339 square feet of office space in the highly acclaimed Whiteweld Centre International Corporate Plaza in Woodcliff Lake, New Jersey. The ten year lease is valued at $10 million and marks the first space leased at the recently completed office centre.

Whiteweld Centre is a $60 million office park totaling 230,000 square feet of Class A office space. Located adjacent to the 350 room Woodcliff Lake Hilton Hotel and Conference Center on a 20 acre site in the legendary Tice Farms apple orchards, it is considered the last prime real estate headquarters site in Upper Bergen County. Corporate neighbors include, BMW, IngersollRand, SONY and Mercedes Benz.

Xerox, the 22nd largest corporation on the Fortune 500 list with 1990 revenues of $17.97 billion, is the latest to make its home in the upscale corporate environs of the Woodcliff Lake area. Whiteweld Centre will serve as offices for the Bergen District of the company's United States Marketing Group. The district office, which employs a staff of over 300, is currently located on Kinder-kamack Road in Oradell, New Jersey, and is responsible for northern New Jersey [wave] s sales, service and administrative functions involving a variety of Xerox office equipment products and systems.

Dennis W. Zakar, senior executive of Whiteweld, Barrister and Brown negotiated the transaction with the broker, Norman Baker of Cushman and Wakefield of New Jersey.

James J. Bovino, president of Whiteweld, Barrister and Brown, is pleased with the transaction. "Whiteweld Centre was designed and constructed precisely for tenants such as Xerox...Fortune 500 corporations of international caliber which seek the perfect blend of prestige, quality and functional world-class amenities."

The office centre was designed by Bovino and renowned architect, Barrett Allen Ginsberg of Bedminster, New Jersey. It boasts a glass-enclosed atrium, a magnificently landcsaped interior with marble floors throughout, interior waterfalls, a 5,000 square foot restaurant with outdoor dining, and a fully equipped, state-of-the-art health and fitness club with an outdoor jogging track. Other luxurious amenities include individually tenant controlled thermostats, an advanced fibre optics telecommunications system, seven freight and passenger elevators with private elevators for executive use -- each with plush, custom designed interiors.

Sheltered canopied walkways lead to the office centre's parking structure at both the north and south sides of the building. There is a total of 920 car parking - 260 below grade and 660 on the outside.

When Xerox officially relocates on Oct. 1, 1991, it will occupy the top floor of the centre's south wing which contains a total of 70,000 square feet on three floors. The north wing contains a total of 160,000 square feet. Both share a common, three story atrium which serves as a ceremonial primal entranceway.

Among the firm's other current projects include proposed Whiteweld Centre 11, a 200,000-square-foot office centre on an additional 15 acre parcel on Tice Boulevard, and the 70,000-square-foot Barclay International in neighboring Montvale, New Jersey, planned to begin construction this winter.
COPYRIGHT 1991 Hagedorn Publication
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Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Real Estate Weekly
Date:Aug 28, 1991
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