Alfred Sanzari Enterprises’ Commercial Portfolio Nears Full Occupancy
In a regional suburban real estate market where vacancies approaching 20 percent are not uncommon, Alfred Sanzari Enterprises continues to maintain record high occupancy levels throughout its commercial portfolio. The firm’s commercial portfolio – which encompasses well-located office, industrial and retail properties throughout Bergen County – is more than 93 percent leased, according to Jerry L. Barta, vice-president/director of leasing and marketing.
“We are extremely pleased with the continued outstanding leasing performance of our entire commercial portfolio,” said Barta. “That we’ve been able to achieve, and maintain, near full occupancy in a challenging economic environment is a testament to Alfred Sanzari Enterprises’ ownership and commitment to its real estate assets, as well as the strength of the relationships we have built – and continue to foster – with our tenants and the brokerage community.”
Celebrating its 70th year in business in 2015, Alfred Sanzari Enterprises is positioned to continue as a leading commercial real estate force in Northern New Jersey. Throughout its history, the family-owned and operated company has earned a reputation for its vision, implementation and management, making tenants and their changing needs a top priority.
Since its inception, Alfred Sanzari Enterprises has retained ownership of almost every asset in its portfolio, a business philosophy valued by tenants, and lenders, that have come to rely on the firm’s stability as a property owner/manager. “As long-term committed property owners, Alfred Sanzari Enterprises prides itself on providing world-class business environments in Class A locations,” said Barta. “We consistently reinvest capital back into all our properties in order to ensure an efficient and attractive work environment for tenants, and maintain our buildings’ competitive edge in the marketplace.”
Several of Alfred Sanzari Enterprises’ tenants are what Barta describes as “first generation” – the original tenants within their respective buildings. “It’s not unusual for us to have tenants for 30 or more years. In fact, our first industrial building, built in 1959, still has its original tenant. Today, both that tenant and Alfred Sanzari Enterprises are being managed by the children of the original deal makers, more than 55 years later. That enduring relationship speaks volumes about our company’s relationship-based approach to what often is viewed as an impersonal, ‘bricks and mortar’ business,” he said.
A Diverse Bergen County Portfolio
Alfred Sanzari Enterprises’ diverse commercial portfolio includes 650,000 square feet of Class A office space at Glenpointe in Teaneck, one of the state’s foremost mixed-use developments. The 50-acre Glenpointe complex consists of Glenpointe Centre West, Glenpointe Centre East and The Atrium at Glenpointe office buildings; the 350-room Marriott at Glenpointe hotel; and Glenpointe Spa & Fitness, a state-of-the-art health and fitness club. Glenpointe’s amenities include a full-service bank, a cafeteria, a restaurant, a wine bar, a lounge, covered parking, on-site management, 24/7 security and a variety of services.
The firm’s commercial portfolio also includes Court Plaza in Hackensack, a three-building office complex located across from the Bergen County Courthouse featuring a landscaped plaza, covered parking, a full-service bank, shoe shine/repair and dry cleaning services, a fitness center, and a cafeteria with indoor/outdoor seating; Heights Plaza in Hasbrouck Heights, offering ample covered parking, a cafeteria and a security/concierge center; Elmwood Park Plaza in Elmwood Park; the mixed-use Alfred N. Sanzari Medical Arts Building in Hackensack; Summit Plaza in Hackensack, a 100,000-square-foot supermarket-anchored neighborhood retail center; and several well-located industrial parks.
Alfred Sanzari Enterprises also owns and manages luxury high-rise and garden-style apartment units throughout Bergen County.
“The bottom line for our entire portfolio is that real estate is a long-term relationship, not a commodity to be traded,” said Barta. “Tenants who make a commitment to one of our properties know they are establishing a relationship with a property owner who will be there throughout the length of their lease term and renewal.”
