Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza, Suite 1100
East Rutherford, New Jersey 07073
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Release Date: Wednesday, May 21, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Cushman & Wakefield Brokers Lease as Exclusive Agent for Route 17 Property
PARAMUS, N.J., May 21, 2014 – Direct Travel, Inc., a travel management company specializing in corporate travel management, has leased 16,500 square feet at Gabrellian Associates' Paramus Corporate Center in Paramus. According to Cushman & Wakefield's Jeffrey Prezant, the rapidly growing company will relocate its regional operations to the office property on Route 17 south from Mahwah, New Jersey, this summer.
Prezant, based in the commercial real estate services firm's East Rutherford, New Jersey, office serves as exclusive leasing agent for the 115,000-square-foot Paramus Corporate Center, which sits between Century Road and Route 4. He arranged the long-term commitment with Direct Travel. Rich Madison, Rich Mirliss and Anthony Rinaldi from Colliers International represented the tenant in the transaction.
Direct Travel is a privately held corporation established in 2011 with $805 million in combined air sales, and expertise with accounts less than $10 million in annual air volume. Today, the firm employs more than 430 travel professionals nationwide and is ranked among the top U.S. corporate travel management firms.
"Direct Travel's aggressive growth strategy is capitalizing on a resurgence in the corporate travel industry," Prezant said. "In looking for a new home in Bergen County, the company had many choices. Its selection of Paramus Corporate Center ties directly to Gabrellian Associates understanding the tenant's needs and providing an attractive solution."
Gabrellian Associates currently is fitting out the company's new offices. Mark Gabrellian, president and managing director, noted that one of Direct Travel's top priorities was finding a building that will enable the company to increase the efficiency of its space. "Paramus Corporate Center provides that advantage, and also offers great onsite and neighborhood amenities, and easy access to the company's client base throughout New Jersey, Pennsylvania and New York," he said.
Paramus Corporate Center serves as home to a mix of financial and professional tenants who benefit from its easily accessible location, full-service cafeteria and onsite daycare center. The highly visible building also serves as the corporate headquarters for Gabrellian Associates, a family-run commercial real estate and development company with a strong presence in the Northern New Jersey market. Cushman & Wakefield currently is marketing just one remaining, 3,500-square-foot unit there.