Vice Chairman Gregg Najarian and Corporate Managing Director Slava Vaynberg confirmed multiple lease transactions throughout Northern New Jersey during the first half of 2022
RUTHERFORD (May 19, 2022) – Savills completed five lease transactions totaling approximately 75,000 square feet on behalf of law firms in Northern New Jersey during the first half of 2022. Vice Chairman Gregg Najarian and Corporate Managing Director Slava Vaynberg represented the law firms in their leases.
The transactions include the following:
• Schenk, Price, Smith & King, LLP signed a 38,519 SF lease restructure at 220 Park Avenue in Florham Park.
• Wilson Elser Moskowitz Edelman & Dicker LLP signed a 17,356 SF lease relocating to 7 Giralda Farms in Madison
• Greenspoon Marder, LLP signed a 10,233 SF lease relocating to One Riverfront Plaza in Newark.
• Hinshaw and Culbertson, LLP signed a 5,888 SF sublease at 343 Thornall Street in Edison.
• Zarwin Baum, LLP signed a 2,759 SF lease renewal at 30 Montgomery Street in Jersey City.
“The pandemic’s effect on the real estate market allowed our law firm clients to act sooner than they might have when driven solely by an expiring lease. The advantage of being proactive has led to broader options and unlocked hidden opportunities given the dynamic changes in most landlord portfolios,” said Vaynberg.
Law firms have been some of the most active tenants in New Jersey this year. Because each firm has different and unique workplace needs, Savills has engaged Andrea Borrelli, an in-house workplace strategist and project manager, and integral part of the team, to assist the firms navigate the complexities of building out their respective offices.
“While the legal sector is typically hesitant to embrace modifications in how space is deployed due to its impact on traditional hierarchy, firms have begun to embrace more functional designs and layouts that foster cross-generational collaboration and mentorship,” said Borrelli. Single-size offices, oftentimes transparent, technology-laden meeting spaces and amenity-rich space now answer the needs of all to benefit the firm.”
Najarian, Vaynberg and Borrelli are part of Savills Legal Tenant Practice Group, a global team of experienced and respected industry professionals at the vanguard of workforce, workplace, and real estate innovation. The firm has successfully advised more than 81% of American Lawyer’s 2018 Top 100 Firms, in large part because of the firm’s tenant-focused platform, culture of innovation and zealous client advocacy.