Precision Technology Inc. (PTI), an orthopedic implant and component engineering design and manufacturing company, has renewed its lease for 52,000 square feet at Alfred Sanzari Enterprises’ industrial complex in Norwood, N.J.

The six-building Norwood portfolio is located at 335, 355, 375 and 385 Chestnut Street, and 10 and 50 Maple Street. PTI occupies the 50 Maple Street building.

“Lease renewals are a positive expression of tenants’ satisfaction with our buildings. We have enjoyed a long relationship with Precision Technology Inc., and their confidence in and recommitment to the space speaks volumes about the quality of this industrial asset,” said Jerry L. Barta, Alfred Sanzari Enterprises’ vice-president/director of leasing and marketing.

Founded in 1971, PTI is one of the industry’s major producers of plastic orthopedic implants and trial components, surgical support instrumentation and precision-machined parts. The core business of the company is the manufacture of prosthetic hip, knee and extremity implants. Throughout its 40-year history, PTI has developed long-term partnerships with the largest orthopedic device companies in the world.

“We have been a tenant at 50 Maple Street for more than 30 years and throughout that time have enjoyed a wonderful relationship with Alfred Sanzari Enterprises,” said Delia Lovero, Executive Assistant. “Their philosophy as a property owner and manager is built on helping tenants succeed, and is one of the reasons we decided to continue our longstanding relationship and remain a tenant at this industrial property.”

Alfred Sanzari Enterprises’ Norwood industrial portfolio is located near The Palisades Interstate Parkway; Route 9W; the New York State Thruway; and George Washington and Tappan Zee bridges. Recent building upgrades include new office windows, new front awnings and loading dock improvements. The properties offer tenants easily configurable space, ample loading and other key amenities sought after by tenants with manufacturing and distribution needs.

According to Barta, the Norwood portfolio represents some of the best industrial space in the northeastern part of Bergen County. The six properties are functional for a variety of business purposes including light industrial, warehousing, high-tech or R&D tenants. Ceiling heights range from 16 to 18 feet, and buildings offer ample on-site parking. Space availabilities at the Norwood portfolio range from 20,400 to 111,424 square feet.

Founded in 1945 by Alfred N. Sanzari, Alfred Sanzari Enterprises is a second-generation family owned and operated business, and one of New Jersey’s foremost real estate developers, owners and managers. The firm is known for the quality design and construction of its buildings, superior hands-on property management and the integrity of its tenant relationships. Many of Alfred Sanzari Enterprises’ strategically located office, industrial, residential, retail and hospitality properties are iconic landmarks in their respective markets with a broad range of world-class corporate tenants. The company is headquartered in Hackensack, N.J.