October 13, 2022
Diversified Properties Brings Montville, N.J. Industrial Park to Full Occupancy
Montville, N.J. (October 13, 2022) – Diversified Properties announces new leases for 9,388 square feet with Cloud9 Design at 1-2 Mars Court and 4,264 square feet with AYY&M Wholesale at 3-3 Mars Court in the Mars Industrial Park in Montville, N.J. The leases bring the five-building portfolio to 100% occupied.
Acquired by Diversified Properties in 2020, Mars Industrial Park is a five-building, 100,000-square-foot industrial portfolio with a diverse tenant base of local and international tenants. Featuring proximity to Route 23 and Interstate 287, the 15-acre property is surrounded by the Pyramid Mountain Natural Historic Area, a 1,675-acre nature park located in Montville, Boonton and Kinnelon that is managed by the Morris County Park Commission.
The largest of the new tenants, Cloud9 Design has created a niche in the home fashion market based on the idea that home furnishings should be exceptional in comfort, style and quality. Using materials and designs from around the world, Cloud9 Design’s truly unique collection of home goods and products is available in the top lifestyle and furniture stores across the United States.
AAY&M Wholesale is a wholesale distributor of brand-name electronics, computers, cameras, luggage and audio/video/mobile accessories. As a top electronics wholesaler, the company works with the most acclaimed brands and trusted manufacturers in the market to deliver only the best products and excellent customer service.
“The continued uptick in industrial activity across northern New Jersey has created an increased need for high-quality space in more westerly submarkets over the last several years,” said Nick Minoia, Founder and Managing Partner of Diversified Properties. “Our acquisition of Mars Industrial Park in 2020 was inspired by our understanding of these market forces and the property’s ability to fit the needs of a wide variety of tenants that has been demonstrated by our successful lease-up.”