Elmwood Park, N.J. (December 3, 2021)- Alfred Sanzari Enterprises, a preeminent family-owned and operated commercial real estate firm, announces that BioReference Laboratories, Inc., an OPKO Health company, has signed a long-term lease renewal for approximately 160,000 square feet of industrial space at 481 and 487 Edward H. Ross Drive in Elmwood Park, N.J.
Stephen Jennings, Vice President of Leasing and Marketing at Alfred Sanzari Enterprises represented Alfred Sanzari Enterprises and Chris Olsen of Eagle Real Estate Group of N.J. represented BioReference in the transaction. Legal counsel for Alfred Sanzari Enterprises was provided by Jan Lewis of Cole Schotz, P.C., and in-house counsel represented BioReference Laboratories.
BioReference is one of the nation’s largest full-service specialty laboratories, servicing approximately 19 million patients annually with a leading position in genetics, women’s health, oncology, and urology. The company operates a network of 10 laboratory locations and serves as an industry leader in custom solutions for COVID-19 testing, including point-of-care testing and large-scale screening programs, which have been crucial in the nation’s pandemic response.
BioReference has been one of Alfred Sanzari Enterprises’ largest tenants since their initial lease in Elmwood Park in 1998. Today, the laboratory has three full-building leases across 481, 487, and 491 Edward H. Ross Drive that span a total of approximately 160,000 square feet. The recent renewal marks the latest chapter in a storied history of a successful collaboration between BioReference and Alfred Sanzari Enterprises and demonstrates the real estate firm’s long-term commitment to its tenants.
“Having worked closely together for over twenty years, our relationship with BioReference has become a trusted partnership and we are proud that they will continue to call our Elmwood Park properties home,” said Jennings. “Their multidecade presence at our Elmwood Park industrial properties is a testament to Alfred Sanzari Enterprises’ reputation for strong tenant retention and how our long-term ownership strategy ensures our tenants can secure the space they need to support their long-term needs.”
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About Alfred Sanzari Enterprises
Alfred Sanzari Enterprises is a preeminent family-owned and operated commercial and residential real estate firm with over seven decades of multi-generational development and management experience. Rooted in integrity and driven by innovation, Alfred Sanzari Enterprises is committed to responsible, modern development that enhances the communities in which they work. Alfred Sanzari Enterprises’ ownership structure and investment strategy allows unique flexibility in sourcing new projects while strengthening its ownership legacy of existing assets. Additional information on Alfred Sanzari Enterprises is available online at www.sanzari.com.