Savills Studley Negotiates Sale of 175,438-Square-Foot Gwathmey Siegel-Designed Industrial Property at 133 Williams Drive in Ramsey, NJ for Approximately $16 Million

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The Corporate Headquarters Includes a 175,438-Square-Foot Industrial Building with Two-Story Offices and More Than 10 Acres

Savills Studley Senior Vice President and Branch Manager Chris Marx (left) and Senior Managing Director Daniel Foley (right) arranged the transaction

Not only was the superb quality of the facility itself a great fit for Prestige, the location is centrally located relative to the location of its other dealerships, which was paramount to their leadership team.

Savills Studley announces that it has arranged for the sale of the Gwathmey Siegel-designed, 175,438-square-foot former headquarters building located at 133 Williams Drive in Ramsey, NJ, which includes more than 10 acres of property, for approximately $16 million. Savills Studley Senior Vice President and Branch Manager Chris Marx and Senior Managing Director Daniel Foley arranged the transaction between the seller, Kislevitz Family LLC and Prestige Management Services, Inc. (Prestige). The transaction was completed in February 2016; Prestige will occupy the entire building in the spring of 2018.

Prestige, the leading vehicle dealer network in the Tri-State Region, will utilize the existing 21,000 square feet of office space for its business operations. The building, originally constructed in 1980, underwent a substantial office renovation in 2012 and features 27-foot ceiling heights, 32-foot column spacing the parking space for 245 vehicles.

“Not only was the superb quality of the facility itself a great fit for Prestige, the location is centrally located relative to the location of its other dealerships, which was paramount to their leadership team,” Foley said.

“This facility is perfectly situated to the needs of Prestige,” Marx added.

Prestige established its first showroom in Montclair, NJ in 1947 and currently operates in Paramus, Mahwah and Ramsey, NJ, Middletown, NY and Stamford, CT. Wards Auto ranks Prestige 31st in the 2014 Mega Dealer Top 100.

About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 27 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

For more information, please visit http://www.savills-studley.com and follow us on Twitter @SavillsStudley and LinkedIn.

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Erin Holin
Savills Studley
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