Lease brings building to full occupancy less than six months after acquisition
Montville, N.J. (May 16, 2023) – Diversified Properties announces Quintessence Fragrances has signed a 9,000-square-foot lease to bring their U.S. headquarters to 1 Indian Lane in Montville, N.J. Tom Consiglio and Greg Sabato of Resource Realty brokered the transaction between Diversified Properties and Quintessence Fragrances.
Located just off Route 202 nearby Exit 47 on Interstate 287, 1 Indian Lane is a single-story, 9,000-square-foot industrial building featuring modern offices, a loading dock and a direct entry overhead door. The property was acquired by Diversified Properties as a key addition to its growing portfolio of Morris County industrial assets in late 2022. At the time, it was fully occupied by an existing tenant that was scheduled to vacant its space upon the conclusion of its lease at the end of 2022. The new lease with Quintessence Fragrances highlights the strong demand for industrial space in the region and Diversified Properties’ ability to create value through strategic real estate investments and hands-on asset management.
Quintessence Fragrances, a UK-based, global fragrance house that has been in business for over 40 years, plans to establish its U.S. headquarters and Creative R&D Center at 1 Indian Lane. Their new headquarters will house sales, administration, marketing, evaluation and perfumery staff.
“Our unique space needs meant it was critical that our new U.S. headquarters and Creative R&D Center had the ideal balance of location and adaptability,” said Jennifer Russell, Senior Vice President of Fragrance Evaluation & Marketing as well as Managing Director in the United States for Quintessence Fragrances. “After visiting 1 Indian Lane and meeting the Diversified Properties team, it was clear that the building perfectly fit our needs and we’re thrilled to begin our work in crafting memorable fragrances for our customers in the U.S.”
Nicholas Minoia, Founder and Managing Partner of Diversified Properties added, “When we acquired 1 Indian Lane back in 2022, we knew that its strategic location and adaptability made an ideal home for the wide range of businesses hoping to find their homes in Morris County. Our ability to fully lease the building less than six months after our acquisition highlights its broad appeal in the regional industrial market. We’re thrilled to welcome Quintessence Fragrances to Montville and are excited for them to begin utilizing their space.”