Friday, July 25, 2008

Glenpointe Officer Tower Approved

While I am hoping for a slow blog summer, one piece of breaking news just came across my desk.

After reviewing plans for 3 hours last night, I was just told that a new office tower was approved by the Planning Board last night. This follows the zoning changes made earlier this year by the Council as recommended by the Board.

I heard from someone there that the conceptual drawing were gorgeous, as is the tax revenue!

GO TEANECK

Enjoy the summer

12 comments:

Anonymous said...

Great news. I'm sure 5, and perhaps 6 of the people on council will be happy.

Anonymous said...

good....a fair project, well designed, a ratable and no negative impact on Teaneck.

Anonymous said...

Anonymous said...
good....a fair project, well designed, a ratable and no negative impact on Teaneck.

What are you basing this on?

Anonymous said...

Will the inspectors let this building get built?

Anonymous said...

Basing the comments on testimony before the planning board, Bldg. Dept., Site Plan Committee, Finance, engineering, FD and PD reports, prior projects by the developer & builder, preliminary value and assessments, drawings and architects' renderings that were available for public inspection and records of compromises made in order not to negatively impact, more than needed, the adjacent neighbors.

Miley said...

This is good news for Teaneck! With the economy the way it is now, we're lucky anyone wants to build. Kudos to all whom were involved in seeing this to fruition.

esther said...

Is it a speculastive project or build-to-suit? If it's a build-to-suit, who's the tenant? I'm not up on the local office market, but I can't imagine it's robust enough to justify construction of a new office building at this time.

Anonymous in Teaneck said...

I imagine that it's speculative, considering that they are looking for tenants for the space that's already built. See:

http://www.northjersey.com/business/news/16064262.html

A quote from this article, dated February 28, 2008:

"Filling Glenpointe has been an elusive goal for Sanzari Enterprises. Several companies have moved in and out of the complex in the past two years, including Eisai Inc., a Japanese pharmaceutical company that vacated an entire floor last year when it moved to its new U.S. headquarters in Woodcliff Lake.

The law firm DeCotiis, Fitzpatrick, Cole and Wisler is taking an additional 50,000 square feet within the building this year, but 150,000 square feet of space remains open for lease, Simson said."

And, of course, the money quote:

"Demand for space in New Jersey remains fairly stagnant."

esther said...

Given the apparent softness of the market and the tightening of credit, it would be a bit premature to start popping the corks for ribbon cutting ceremonies.

Anonymous said...

What kinds of compromises were "made in order not to negatively impact, more than needed, the adjacent neighbors?"

Anonymous said...

Considerations included building footprint location, overall height, many other structural aesthetics, parking garage/lot issues, attachements & walkways to other buildings, exterior lighting, perimeter vegetation and shrubs & landscaping, signage, potential traffic flow concerns, overall density, drainage & sewer implications, placement of HVAC power units and venting systems, emergency generator placement, just to name some things. Interested in learning more? Read application including blueprints and other preliminary construction paper work in the building department offices.

Swiggle said...

Given the apparent softness of the market and the tightening of credit, it would be a bit premature to start popping the corks for ribbon cutting ceremonies.

There's always the chance that New York's taxes (only a few state's can be higher than NJ) will force a few companies out this way...

There's also the disaster sites many companies have started to build on a just in case basis. (personally, I wish my firm would have picked NJ instead of White Plains.)