Capstone Welcomes Tenant at Northern NJ Property
- Apr 21, 2020
Digital solutions provider Next Millennium Media has relocated its headquarters to 135 Chestnut Ridge Road, a 65,000-square-foot office building in Montvale, N.J. The firm is retaining its Manhattan office at One World Trade Center as a satellite location.
The property in Montvale, a borough of Northern New Jersey’s Bergen County, was built in 1981. Capstone Realty Group acquired the building for $6.4 million in 2017, according to Yardi Matrix data. The Class B, three-story property sits on a 7-acre site and houses tenants across a range of industries, including software company Sulzer US.
Matrix data shows that the building received cosmetic renovations in 2014. With a parking ratio of 4 spaces per 1,000 square feet, 135 Chestnut Ridge is located just off Garden State Parkway. Retail and dining options in the surrounding area include the Grand Ridge Corner shopping center a short walk to the south.
Next Millennium Media, which serves web publishers and brand advertisers, said in a statement that the additional space would enable many new hires in the near future. The company’s new landlord, Capstone, partnered with JD Cos. to sell an office complex in Hackensack, N.J. in January. Lionstone Capital purchased the asset for $123 million.