New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
PowerFleet Extends Woodcliff Lake Tenancy
JLL recently completed a renewal lease in Woodcliff Lake, NJ for ID Systems, a wireless logistics tracking company. ID Systems, which operates as PowerFleet Inc., signed a long-term lease extension for 15,486 square feet of space at 123 Tice Blvd.
Managing directors Scott Lesh and Andrew Zezas and SVP Derek DeMartino of JLL represented the tenant. Garrett Rioux, first VP of CBRE, represented property owner Vision Properties.
PowerFleet is a provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicles and truck fleets.
“We were pleased to structure a lease that reduced the tenant’s footprint by more than 25%, reducing costs while also securing improvements to enhance the workplace environment,” said DeMartino. “Negotiating a beneficial lease in the current crisis helped to position the company for further success.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
