French’s Food Company Renews Global HQ Lease in Chester, N.J.
-- Colliers International Reps Landlord in 32,000-SF Transaction--
CHESTER, N.J., May 25, 2017– Colliers International Group Inc. (NASDAQ:CIGI, TSX:CIG)has brokered a long-term lease renewal to secure French’s Food Company, a Reckitt Benckiser Group brand, as the sole tenant at 2-4 Mill Ridge Lane in Chester. The 32,000-square-foot building serves as the company’s global headquarters.
“The property’s owner, VEREIT, Inc., retained us for this key renewal assignment,” noted Colliers’ Rich Mirliss. “Within two months we had an agreement for this desirable credit tenant to remain in place. The recommitment by Reckitt Benckiser – one of the world’s leading consumer goods organizations – ensures property’s continued success.” Mirliss added that French’s was exploring relocation options.
French’s Food Company is best known for its Classic Yellow Mustard, invented in 1904. The firm manufactures and distributes several household-name condiment and snack products.
Mirliss, along with Richard Madison and Alex Vitro of Colliers’ Parsippany, N.J., office, headed negotiations on behalf of the landlord. The team was chosen for its regional market experience and the deep resources provided by the Colliers International platform. Newark Grubb Knight Frank served as tenant broker in the transaction.
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