CLARK, NJ — Newmark Knight Frank (NKF) has negotiated the sale of Denholtz Associates’ 108,000 s/f flex/R&D building at 175-195 Terminal Ave. in Clark for $15.84 million to ANG Management. NKF executive managing director Steven Schultz and managing director Tony Georgiev handled the transaction.
Since 1992, 175-195 Terminal Ave. has been leased as the headquarters of L’Oréal’s North American R&D division, one of six L’Oréal R&D centers in the world and the only one in the United States. Stretching across 7.61 acres, the building is a single-story, state-of-the-art flex/R&D space that recently underwent a significant renovation to extend functionality and create the modern research environment needed by one of the world’s largest cosmetics companies. 175-195 Terminal Ave. is a part of the Clark Commercial Center, a 10-building, 283,201 s/f portfolio purchased by Denholtz Associates in a joint venture with MB1 in 2015.