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LPC Awarded Exclusive Leasing Assignment at 5 Paragon Drive, Montvale, NJ

24 Jun 2019

Lincoln Property Company Awarded Exclusive Leasing Assignment by Nessel Development Corporation at 5 Paragon Drive, Montvale,NJ

5 Paragon Drive 1

PARSIPPANY, N.J. (June 24, 2019) – Michael Taylor, Senior Vice President, announced that Lincoln Property Company was awarded the exclusive leasing assignment on behalf of Nessel Development Corporation for 5 Paragon Drive in Montvale, New Jersey.  5 Paragon Drive is a 119,089 sq. ft. two (2) story, first class office building located at exit 172 of the Garden State Parkway in Bergen County.

Upon assuming these responsibilities, Lincoln Property Company has been immediately implemented an aggressive repositioning and leasing campaign for the property in tandem with the new ownership that is in the process of designing several new improvements and upgrades to an already attractively positioned and apportioned first class office building.  Initially constructed in 1984 5 Paragon Drive is 71.3 % occupied and is now offering a total of 34,129 sf of quality office space available for lease.

The Lincoln Property Company team responsible for the marketing and leasing will be Rick Genthe, Bob Lee, Sean O’Brien and Eric Dipasquale serving as the in-house leasing agents on behalf of the landlord.

5 Paragon Drive a Class A office building is located just off Exit 172 of the Garden State Parkway at the intersection of Grand Avenue and Paragon Drive. The building is also just a few minutes’ walk from the recently completed Shoppes at DePiero Farm, a 231,000-sf lifestyle center featuring a new 108,000 sf Wegmans supermarket, Starbucks, Ulta, Chipotle, Cycle Bar, Habit Burger. It was also recently announced on the former Mercedes Benz USA Campus, directly across the street, approvals were just granted for the development of Triboro Square. This development will include 139,000 sf of additional retail space, 350 residential units and a 150-room hotel Construction is anticipated to commence in the fourth quarter of 2019,


About Lincoln Property Company

Headquartered in Dallas, Texas, Lincoln Property Company is one of the largest and most respected privately held diversified real estate service companies in the industry. The Company employs over 4,500 professionals in over 93 markets in 16 states. Lincoln Property Company is also one of the largest property and construction management firms in the country and offers a full spectrum of development, investment sales and brokerage services for third party clients as well as for its own portfolio.

For more information about the full spectrum of services that Lincoln Property Company has to offer, please contact Michael Taylor at Lincoln Property Company’s Parsippany, New Jersey offices at (973)-599-0050.